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Boeing sees global air freighter fleet doubling over 20 years driven by China

Whale Rider

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Boeing sees global air freighter fleet doubling over 20 years driven by China
09.14.2005, 01:49 AM

SYDNEY (AFX) - Boeing Co has forecast that China will drive global air freight volumes significantly higher, doubling the global freighter aircraft fleet to 3,530 from a current 1,760 over the next 20 years.

The US aircraft manufacturer, in its latest annual 20-year cargo market outlook, upgraded last year's forecast by 100 aircraft over the period, with an increasing role for large freighters.

It said the value of new aircraft needed to meet the growing market is estimated to be 155 bln usd at current prices.

The company has looked past current market weakness in the global air freight business, caused by soaring fuel prices, and remains bullish about future growth, noting the strongest growth will be associated with Asia.

'China, in particular, is an area where the air cargo industry, while still young, is poised for high growth rates - in the range of 10 pct per year,' the company said.

Overall, Boeing forecasts 2,870 freighters will enter the global freighter fleet by 2024 and 1,100 freighters will be retired, for a net gain of 1,770.

It said 25 pct of the gain will come from conversions from passenger and combi aircraft.

The share of widebody freighters is expected to increase to 64 pct of the fleet, compared to 47 pct currently.

It said the shift toward widebody freighters will result in a fleetwide increase in average freighter airplane payload.

Boeing said by 2024, freighters of all sizes will provide more than half of the world's total air cargo capacity, a slight increase from today.
 
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