The biennial report provides an overview of the air cargo market and provides a long-term outlook.
Insights from the 2024 forecast say that the global freighter fleet will grow from 2,340 freighters in 2023 to 3,900 by 2043.
Demand will come from high-growth Asian markets where the large widebody freighter fleet is expected to double.
Nearly half of production and conversion deliveries will replace retiring freighters which have stayed in the market due to market needs.
Boeing forecasts 2,845 freighter deliveries between 2024 and 2043, of which 1,005 will be production freighters and 1,840 will be conversions.
Of the deliveries, 1,250 will be standard body, 785 will be medium widebodies and 810 will be standard widebodies.
Darren Hulst, Vice President of Commercial Marketing at Boeing, said: “There will be many drivers for continued freighter demand over the next 20 years, including expansion of emerging markets and global growth in manufacturing and e-commerce.”
Looking at regions, east and south Asian markets will have the highest growth due to expanding economies and consumer demand.
The Asia-Pacific fleet is expected to triple with the region expecting to receive 980 freighters.
North America is expected to take delivery of 955 freighters, with the report saying that the two regions will account for two thirds of global deliveries.
India’s domestic market is forecast to quadruple as express and e-commerce networks expand.
The market share for express carriers is expected to grow from 18% to 25%, growing faster than the industry average due to the growth of e-commerce and the expansion of express networks in emerging markets.
