Boeing Forecasts 5.2% Annual Growth in Air Cargo
The global air cargo market will expand at a 5.2 percent annual rate over the next 20 years, according to a study by Boeing, which makes cargo airplanes. The Boeing World Air Cargo Forecast 2012/2013 said growth will be driven by world gross domestic product that will nearly double over the forecast period. Trade also is expected to increase due to liberalization of markets, it said, and because more-efficient aircraft and infrastructure improvements will reduce the cost of air cargo.
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Boeing forecasts the world freighter fleet will increase to 3,198 airplanes by 2031, from 1,738 now. Large freighters -- such as the Boeing 747 and 777 -- will represent 36 percent of the fleet, compared to 31 percent today, it said. The biggest growth will be in markets connecting Asia-Pacific, it said.