Global cargo fleet would grow up by 60% in the next two decades

Created on 04.12.2020 08:34

Boeing is predicting a steady growth in demand for air cargo over the next 20 years. In the short term, the market will be stimulated by the impact of the COVID-19 pandemic, and by a sharp increased amount of e-commerce in the future, as reported by the ATO.

According to the study, the global air cargo traffic will grow up by 4% annually over the next 20 years. The growth is caused by the strong dynamics of the express delivery market amid the e-commerce boom and is directly linked to rebuilding the world economy. By 2039, given these circumstances, the global cargo fleet would have increased by 60%. E-commerce, which had double-digit growth before the COVID-19 pandemic, has increased its impact on the air cargo market as more companies launch online sales. From January to September 2020, the express delivery has increased by 14% compared to the previous year.

From January to October 2020, about 200 airlines used more than 2,000 passenger wide-body aircrafts for special cargo flights. This allowed the carriers to generate cash flows for themselves and ensure the fulfillment of important logistical challenges. Cargo aircrafts partially have covered the deficit in carrying capacity and in some cases even brought airlines a quarterly profit, despite the low volumes of passenger traffic.

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