Boeing Forecasts 4% Annual Growth In Air Cargo Traffic Through 2043

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(RTTNews) - Boeing Co. (BA) forecasts continued long-term growth, projecting that air cargo traffic will increase by an average of 4% per year through 2043.

Boeing expects the global air cargo fleet to rise to 3,900 airplanes by 2043, a two-thirds increase from the 2,340 freighters in 2023. Driven by demand in high-growth Asian markets, the large widebody freighter fleet will nearly double. Nearly half of the production and conversion deliveries will replace retiring freighters with more capable and fuel-efficient models, as many older jets remain in service due to recent market needs.

East and South Asian markets are expected to see the highest traffic growth per year, driven by expanding economies and rising consumer demand. The Asia-Pacific fleet is projected to nearly triple, with carriers in the region requiring the most deliveries—an estimated 980 freighters—followed closely by North America, which will need 955. Together, these two regions will account for more than two-thirds of global deliveries. In particular, India's domestic air cargo market is set to nearly quadruple, fueled by the rapid expansion of express and e-commerce networks.