Boeing: Air cargo traffic to double by 2043
Boeing has projected robust long-term growth for the air cargo sector, expecting global air cargo traffic to rise by an average of 4% annually through 2043, as outlined in its 2024 World Air Cargo Forecast (WACF).
Reflecting a strong post-pandemic recovery, the forecast anticipates a significant increase in demand, particularly in high-growth markets across Asia.
The global air cargo fleet is expected to expand to 3,900 aircraft by 2043, a substantial rise from 2,340 freighters in 2023.
This will be driven by Asia’s economic growth, and the large widebody freighter fleet will nearly double over this period, Boeing said.
Nearly half of new aircraft production and conversions will be aimed at replacing older freighters with more efficient models, though many older jets have been retained to meet recent market demand.
East and South Asia will lead growth in air cargo traffic, fuelled by rapid economic expansion and rising consumer demand.
In fact, the Asia-Pacific fleet is set to almost triple, with carriers in this region expected to need around 980 new freighters, followed closely by North America’s 955. Together, these regions will account for over two-thirds of total deliveries.
India’s domestic air cargo market is also anticipated to nearly quadruple as express and e-commerce infrastructure expands.
“As the quickest and most reliable way to move goods, air cargo’s sustained growth has returned the industry to its long-term trend,” said Darren Hulst, Boeing vice president of commercial marketing.
“There will be many drivers for continued freighter demand over the next 20 years, including expansion of emerging markets and global growth in manufacturing and e-commerce.”
