According to the latest projections from US aircraft manufacturer Boeing, air cargo operators will need more than 2,600 freighters over the next two decades to keep up with increasing global freight traffic, which is expected to double with 4.2% growth annually.
Apparently, there will be demand for 980 new medium and large freighters and a further 1,670 converted freighters which will go towards replacing older aircraft and growing the global fleets of cargo operators to meet demand. "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 Aeroplanes. "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."
The World Air Cargo Forecast was released by Boeing today at The International Air Cargo Association's Air Cargo Forum and Exhibition which detailed how some of the main forces behind the rise in demand for cargo aircraft comes from China. The global rise of e-commerce is also a key factor in the growth in demand as that industry is expected to rise by around 20% each year.