Boeing experts predict air cargo traffic will grow an estimated 4.2 percent each year throughout the next two decades, thanks to a strengthening economy.
At this annual growth rate, there will be 1,440 converted freighters and 930 new freighters needed to continue serving the marketing by the year 2035. These figures were published in Boeing’s biennial World Air Cargo Forecast at The International Air Cargo Association (TIACA) Air Cargo Forum and Exhibition.
"The air cargo market has faced several years of below trend growth," Boeing Vice President of Marketing Randy Tinseth said. "As trade continues to recover, we're confident the air cargo market will see growth over the long term."
Boeing says e-commerce market is expected to be a main drive with this growth, accumulating to $3.6 million by the year 2020.
"Air cargo is critical to global trade, and Boeing offers the most comprehensive product lineup in the industry," Tinseth said. "Our airplanes provide capacity and reliability advantages that will help our customers adapt and succeed in the evolving air cargo marketplace."
In addition, China’s express market has continued to grow; its upcoming five-year growth rate is estimated at 55 percent in volume with another 39 percent in revenue. This means that markets connected with Asia will continue to surpass other international markets with average air cargo increase.
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