Global air cargo traffic may grow at 4.8% per year

BOOSTED by fast-growing emerging economies, global air freight traffic is expected to grow at a clip of 4.8 per cent per annum over the next two decades, which will nearly double the global freighter fleet to close to 3,000 aircraft, according to Airbus' global cargo market forecast.

The European plane maker projects that overall air cargo demand will see a need for 2,700 new and converted aircraft by 2032 for both fleet replacement and growth, while an additional 175 will be aircraft which are already in service. Belly freight usage in passenger aircraft - making up about half of commercial air freight on international routes - has also been taken into account.

Of the 2,700 or so planes, 870 planes worth some US$234 billion are estimated to be factory-built and 1,860 are expected to be converted from passenger aircraft.