Air cargo demand set to soar
28 Nov 2018 - by
Air cargo demand will grow by about 4.2% every year over the next 20 years with air cargo operators needing more than 2 600 freighters over the next two decades to keep up with increasing global freight traffic.
This is according to Darren Hulst, managing director of Market Analysis & Sales Support at Boeing Commercial Airplanes. "The air cargo market continues to be a major element of commercial aviation's growth story," he said, noting that the company’s latest World Air Cargo Forecast indicated strong long-term air cargo trends, which coincided with the market recovery seen over the past few years across Europe, North America and Asia.
Some of the factors driving the growth in air cargo include a growing express market in China and the global rise of e-commerce, which is forecast to increase 20 percent annually to nearly $5 trillion in 2021 according to Boeing's analysis.