Air Cargo Traffic Expected to Double by 2038
According to Boeing, the Air Cargo Traffic will double in the next 20 years, the information was received from the New World Air Cargo Forecast which projects the need for over 2,650 freighters in the next two decades alone.
The forecast further estimates the need for 1,670 converted freighters which will be aided through the various programs currently underway to convert passenger aircraft to freighter aircraft.
Darren Hulst who is the managing director of Market Analysis & Sales Support at Boeing Commerical Airplanes said “The air cargo market continues to be a major element of commercial aviation’s growth story,” said Darren Hulst, managing director of Market Analysis & Sales Support at Boeing Commercial Airplanes. “Our new forecast indicates strong long-term air cargo trends, which coincide with the market recovery that we have seen over the last few years across Europe, North America, and Asia.”
Outlined in the New World Air Cargo Forecast by Boeing, demand in China is skyrocketing due to the growing express market and the rise of e-commerce which according to Boeing will increase 20% annually to nearly $5 trillion by 2021.
“With 90 percent share of the freighter market, Boeing is well positioned to capture this growth, We have invested in our freighter family to help express cargo and general freight operators carry out their missions around the world. Whether it’s our 777 Freighter or our 737-800BCF program, Boeing offers the most capable family of freighters with the best combination of payload, range and fuel efficiency,” said Darren Hulst.
Boeing has seen an increase in demand for freighters already during 2018 with orders coming in during the 2018 Farnborough International Airshow for notably the 747-8F and 777F.