World Air Cargo Forecast Predicts Robust 20-Year Growth
Boeing says world air cargo growth should expand at an average
annual rate of 6.2 percent during the next two decades, with
overall traffic tripling from current levels.
The information is part of Boeing's World Air Cargo Forecast
2004/2005, released Wednesday at the International Air Cargo Forum
and Exposition 2004. Boeing has published the World Air Cargo
Forecast, which is widely acknowledged as a definitive industry
forecast of worldwide air cargo traffic growth and freighter
aircraft demand, since 1986.
"With the challenges of the past few years, the air cargo
market's strength has been encouraging," said Marlin Dailey, vice
president, Sales, Europe & Central Asia – Boeing
Commercial Airplanes. "After four percent growth last year, the
market has continued to be strong this year, with worldwide traffic
up a further 10.7 percent versus the same period in 2003."
Overall, Boeing predicts the world freighter fleet will increase
to 3,456 airplanes from 1,766 during the 20-year forecast period,
with the greatest growth in wide body freighters such as the Boeing
747, 767, MD-11 and the Airbus A300. This category ultimately will
represent 60 percent of the fleet, compared to 44 percent today,
eventually constituting more than 90 percent of total freighter
capacity.
Of the 2,950 freighters predicted to join the fleet, 1,260 would
be replacements for retired aircraft and 1,590 for growth. More
than 75 percent, 2,226 airplanes, will come from
passenger/combi-to-freighter modifications, while 724 will be new
production freighters.
Boeing expects Asian air cargo markets to continue leading the
industry in average annual growth, with the domestic Chinese and
intra-Asian markets expanding 10.6 percent and 8.5 percent per
year, respectively.
Compared to the world average annual growth rate of 6.2 percent,
North America-Asia will average 7.2 percent and Europe-Asia will
average 6.7 percent. Several of the more mature markets, such as
intra-North America and intra-Europe, will experience lower growth
rates based upon current high traffic rates.
"This year is shaping up to be the best year for world air cargo
traffic growth since 1997," said Tom Crabtree, regional director,
Marketing, Europe – Boeing Commercial Airplanes, and a
primary forecast author. "We're seeing strong growth in nearly all
international trade lanes, with the strongest growth year-to-date
in the transpacific and Europe-Asia markets at 17 percent and 13
percent over 2003 levels, respectively. This strong rebound adds
further credence to our forecast of strident worldwide growth over
the long-term."