Asian demand to triple global airfreight traffic by 2027: Boeing
08 Nov 2008
A Boeing projection says world air cargo traffic will grow 5.8% annually over the next 20 years and triple in size by 2027. The projection, made in its recently released "2008/2009 World Cargo Forecast" modifies an earlier forecast of 6.1%.
The Boeing report, however, stresses that "current near-term market weakness and worldwide economic uncertainty" will not significantly affect long-term demand. "The industry has shown strong recoveries from previous economic downturns such as the Asian economic crisis, the 9/11 attacks and the SARS outbreak," it said.
The report says that global airfreight traffic growth will be driven by the Asian market. "Asian production fundamentals, including abundant raw materials and low-cost labor, remain solid and China will remain a source of strong economic growth with substantial industrialization and related investment," it says.
According to the report, the world freighter fleet will increase to 3,890 aircraft in 2027 from the current 1,950. It says 3,360 aircraft will join the fleet over the next two decades.
More than 75% of the additions will be conversions.
