in General Aviation

Boeing forecasts World Air Cargo Traffic to grow long term

Posted 27 October 2016 · Add Comment

Boeing projects air cargo traffic will grow at an annual rate of 4.2 percent over the next 20 years, with 930 new and 1,440 converted freighters needed to meet market demand by 2035.

 

The company released its biennial World Air Cargo Forecast at TIACA (The International Air Cargo Association) Air Cargo Forum and Exhibition in Paris today. 

"The air cargo market has faced several years of below trend growth," said Randy Tinseth, vice president, Marketing, Boeing Commercial Airplanes. "As trade continues to recover, we're confident the air cargo market will see growth over the long-term." 

Boeing projects the e-commerce market will be one of the primary factors driving that growth, reaching $3.6 trillion by 2020. Additionally, China's express market keeps expanding, with a five-year growth rate of 55 percent in volume and 39 percent in revenue. 

The forecast shows markets linked to Asia will lead all other international markets in average air cargo growth. Dedicated freighters still carry more than half of air cargo traffic and remain the leading cargo capacity provider. 

Boeing forecasts that the world air cargo fleet will expand by 70 percent by 2035, adding a total of 2,370 freighters to the market. The forecast sees demand for 550 large production freighters, 380 production medium widebody freighters, 400 widebody conversion freighters and 1,040 medium conversion freighters. 

Boeing products make up more than 90 percent of the world's dedicated freighter capacity. Boeing offers integrated solution for freighter operators, whether they carry express cargo or industrial goods. 

"Air cargo is critical to global trade, and Boeing offers the most comprehensive product lineup in the industry," said Tinseth. "Our airplanes provide capacity and reliability advantages that will help our customers adapt and succeed in the evolving air cargo marketplace."

* required field

Post a comment

Other Stories
Advertisement
Latest News

Emirates service to Tunis becomes daily

Emirates has reaffirmed its commitment to Tunis by increasing the frequency of flights between Dubai and Tunis from six to seven a week starting 30th October 2017.

TIACA expands global reach with new board member from Africa

A new board member, representing the ground handling and cargo carrier sectors of Africa has been appointed to the TIACA Board of Directors.

Global Aviation to lease an A300 freighter

Libya's Global Aviation will shortly wet-lease an A300C4 freighter from Moldova's Air Stork , reports ch-aviation.

New CEO of SAA to start role in November

South African Airways (SAA) has announced the start date of its new Chief Executive Officer (CEO) at the airline's headquarters, Airways Park, Johannesburg, as November 1, 2017.

Construction at terminal 3 at Accra-Kotoka International effects certain operators

With construction work on Accra-Kotoka Internationals new Terminal 3 flagship project moving into top gear some operators at the airport have had to change location to facilitate the development.

Sanjeev Gadhia elected to TIACA board

Africa has its first representative on the board of TIACA (The International Air Cargo Association, USA) which is the largest air-cargo association in the world.

Aviation Africa SK18418
See us at
ACI Africa BT77181017Global Aerospace BT28218AfBAC Expo BT2017Aviation Africa BT18418GroundHandling BT0303280917AIMA Africa 2017