It has been confirmed by Airbus that the airfreight industry is set to get an influx of new freighter planes over the next 20 years, as demand is ever increasing for airfreight service.
$234 billion that is being earmarked for the 20 year investment is based around 870 new freight planes. The projection will see the number of freighters increase to around 3,000. Not all of these planes are set be specific built freighters as it is estimated that 1,860 of these planes will be converted passenger planes from the other side of the airfreight industry.
It will come as no surprise that China is backing the biggest growth in cargo airfreight, as the Asia-Pacific region is going to account for around 42 percent of the traffic for global airfreight. It is also reported as economic growth continues in countries such as Indonesia and India; airlines based in those countries are boosting passenger airfreight orders.
With the increased orders for all airfreight sectors it is expected, even with economic climate still slightly unstable, that year on year for the next 20 years the airfreight traffic is set to increase by 4.8 percent annually. IATA have reported already that due to the US and Europe economy showing signs of recovery that the demand has shown an increase of 3.6 percent from April to August alone.
The market isn’t just demanding new planes for the large freighter cargo airfreight market, as all areas of the model line-up are enjoying an increase is orders. As it is reported that the demand for mid-sized and small cargo planes have increased, this is mainly attributed down to the introduction of express services from places such as China and India – due to the demand for these faster airfreight services ever increasing. Although these smaller planes are always overshadowed literally and figuratively by the larger freighters as these are offer a much more cost effective airfreight service to the airfreight providers.