Boeing: World Air Cargo Fleet To Expand By 70 Pct By 2035

KUALA LUMPUR, Oct 27 (Bernama) -- US aviation company, Boeing, projects its world air cargo fleet to expand by 70 per cent by 2035, to reach 3,010 freighters in service from 1,770 currently. Boeing Commercial Airplanes vice president, Marketing, Randy Tinseth, said there is demand for 2,370 freighters globally, with 930 new and 1,440 converted freighters needed by 2035. "The air cargo market has faced several years of below trend growth. As trade continues to recover, we're confident the air cargo market will see growth over the long-term," he said in a statement Thursday. Tinseth said the e-commerce market would be a primary factor driving the growth of air cargo with Asia leading other international markets in average air cargo growth. "Additionally, China's express market keeps expanding, with a five-year growth rate of 55 per cent in volume and 39 per cent in revenue," he added. According to the biennial World Air Cargo Forecast released by Boeing, the world air cargo fleet would see demand for 550 large production freighters, 380 production medium widebody freighters, 400 widebody conversion freighters and 1,040 medium conversion freighters. The forecast also showed that dedicated freighters still carry more than half of air cargo traffic and remain the leading cargo capacity provider. Boeing products made up more than 90 per cent of the world's dedicated freighter capacity, offering integrated solution for freighter operators, whether to carry express cargo or industrial goods. From standard-body freighters to large freighters, the Boeing Freighter Family consists of the 767-300, 777 and 747-8 Freighters, as well as the 737BCF and 767-300BCF conversion freighters. -- BERNAMA