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Thursday, October 10, 2013

Airbus Forecasts 20-Year $234 Billion Market for Freighter Jets

Woodrow Bellamy III

Airbus is projecting global demand for 870 new freighters valued at $234 billion through 2032, driven by increased demand from cargo carriers in the Asia Pacific region. 
The European airframe manufacturer said Thursday that there will be total demand for 2,700 new and converted cargo aircraft, 870 of which will be factory-built freighters with the remaining being converted passenger aircraft. That will almost double the global fleet of freighter jets to nearly 3,000 over the next two decades, Airbus said. 
Asia Pacific carriers currently account for 36 percent of the world's air freight traffic, and that is expected to increase to 42 percent by 2032, lead by air cargo growth in China. 
"Looking forward after a difficult few years, world trade is showing improvements and diverse emerging markets will call for increased flexibility in air cargo transportation – for which mid-size freighters will be the primary means to achieve this," said Andreas Hermann, head of the freighters division at Airbus. 

Global air freight traffic is expected to increase at 4.8 percent annually through 2032, according to the latest forecast from Airbus.  International demand for air freight has increased since April, and grew by 3.6 percent in August, according to the International Air Transport Association. 


Related: Global Air Cargo Market Improves in August

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