Boeing predicts $132 billion growth in world freighter fleet

Boeing has revealed in its latest market forecast that the world freighter aircraft fleet will double during the next 20 years, from 1,752 to 3,501 aircraft.

The world freighter aircraft fleet will increase by twofold during the next 20 years, from 1,752 to 3,501 aircraft, Boeing has revealed in its latest market forecast.

According to the Current Market Outlook 2003, produced annually by Boeing Commercial Airplanes and recently released at the Paris Air Show, 2,976 freighters will enter the fleet by 2022 and 1,227 cargo aircraft will be retired, for a net gain of 1,749 aircraft. Freighters as a percentage of the total world aircraft fleet will decrease from 11 percent to 10 percent, due to an increase in size of the average freighter.

‘We’re a bit more optimistic than last year and continue to see long-term strength in the air cargo market,’ said Jim Edgar, air cargo marketing director for Boeing. ‘We expect especially high growth in fleet numbers near the end of the forecast period.’

The share of widebody freighters is expected to increase to 56 percent of the fleet, compared to 41 percent currently. More than half of the freighters that will be added to the fleet will be widebody aircraft.

By 2022, 761 new production freighters will enter the fleet, with the remainder – approximately 75 percent of the total growth – being conversions from passenger and combi aircraft. Nearly half of these aircraft will be in the large freighter category (greater than 65 tons).

‘The projected fleet growth is consistent with the freighter fleet forecasts from years prior to 2002,’ said Edgar. ‘Our forecast last year reflected slow growth in the aftermath of September 11, 2001. This year, we’ve been able to incorporate more complete geographic coverage and improved source data in developing this year’s forecast.’

The value of the new production freighters entering the market over the 20-year period totals $132 billion.

Currently, Boeing provides more than 90 percent of the world’s freighter capacity. This percentage is expected to remain stable, as the vast majority of conversions will be larger Boeing aircraft.

The Current Market Outlook is available <A HREF=’http://www.boeing.com/commercial/cmo/’>Here</A>

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