Boeing predicts air cargo will triple in next 20 years

Although cargo traffic was anemic during the month of June according to a report by IATA, Boeing remains bullish on the future of global cargo. In Boeing’s recent “2008 Current Market Outlook Report”, Boeing anticipates that cargo will triple over the next 20 years. A 5.8 percent annual cargo growth rate is predicted globally for the next 20 years.

The Asia-Pacific region is forecasted to have the highest percentage of growth as well as the highest number of aircraft deliveries. North America and Europe were predicted to be second and third respectively.

Via Boeing.com:

Asia is now expected to need the most new airplanes as well as representing the largest market by value of deliveries. For first time, the value of the European airplane market will be equivalent to that in North America. As the airplane market expands, welcome competition is anticipated from manufacturers in Asia and CIS.

New trade routes and global sourcing will stimulate air cargo markets, for example, with strong growth in Southwest Asia. One-stop-to-anywhere airlines in the Middle East have a highly expansive vision. Investment in infrastructure and airplanes is on a scale to match.

Read the complete Current Market Outlook Report for further details.