Boeing Expects Air Cargo Volumes To Double In 20 Years
Air cargo volumes are expected to grow 4% annually over the next 20 years, Boeing said in its Global Air Cargo Outlook.
With a strong air cargo market exceeding pre-pandemic levels, Boeing expects continued growth in the long term. Air cargo volumes will grow 4% annually through 2043, according to Boeing’s 2024 Air Cargo Plan (WACF) Global Vision, a biennial overview and long-term outlook for the air cargo industry.
“As the fastest and most reliable way to move goods, the continued growth of air cargo has put the industry back on track for the long term,” said Darren Holst, Boeing’s vice president of commercial marketing. “Many factors will drive continued demand for freighters over the next 20 years, including expansion into emerging markets and growth in global manufacturing and e-commerce.”
In addition to the steady growth in air cargo volumes, Boeing’s report also noted that the global air cargo fleet is expected to grow to 3,900 aircraft by 2043, a two-thirds increase from 2,340 freighters in 2023.
Regionally, East and South Asian markets are expected to see the fastest annual traffic growth, with the Asia-Pacific fleet expected to nearly triple. Carriers in the region will require the most deliveries (980), followed closely by North America (955). These two regions will account for more than two-thirds of global deliveries. Meanwhile, India’s domestic air cargo market will grow nearly fourfold as express and e-commerce networks expand.
As a global leader in aerospace, Boeing develops, manufactures, and services commercial airplanes, defense products, and space systems for customers in more than 150 countries. As a leading U.S. exporter, the company leverages the talent of its global supplier base to promote economic opportunity, sustainable development, and social impact.
