Boeing Bets on More Growth in Air Cargo Industry

By Connor Hart

Boeing expects air cargo traffic to double by 2043, driven by the expansion of emerging markets and continued growth in manufacturing and e-commerce.

The aerospace manufacturer maker released its market projections Tuesday at its 2024 World Air Cargo Forecast, which provides a biennial overview and long-term outlook for the air cargo industry.

The global air cargo fleet is expected to rise to 3,900 airplanes by 2043, up from 2,340 freighters last year, the company said. Nearly half of production and conversion deliveries will replace retiring freighters. Due to market needs many older jets will remain in service.

Boeing expects 2,845 freighters to be delivered by 2043. With this increase, the large wide-body freighter fleet will nearly double, driven by demand in high-growth Asian markets.

East and South Asian markets will see the highest traffic growth per year, boosted by expanding economies and consumer demand, the company said. The North America and India regions are also expected to experience high levels of growth.

Write to Connor Hart at [e-mail]

(END) Dow Jones Newswires

11-12-24 1345ET