Welcome!

News Feed Item

Boeing Forecasts Air Cargo Growth Driven by Globalization and Trade

Long-term forecast projects 5.2 percent annual growth over next 20 years; world freighter fleet to expand to nearly 3,200 airplanes by 2031

ATLANTA, Oct. 2, 2012 /PRNewswire/ -- Boeing (NYSE: BA) said today that the global air cargo market will expand at a 5.2 percent annual rate over the next 20 years. According to the Boeing World Air Cargo Forecast 2012/2013, growth will be driven by world gross domestic product (GDP) that will nearly double over the forecast period. Trade is expected to increase through liberalization of markets and more efficient aircraft and infrastructure improvements will reduce the cost of air cargo.

Boeing released the biennial forecast, which is widely cited by airlines and industry groups, at the International Air Cargo Forum and Exhibition 2012 in Atlanta.

Air cargo traffic will grow over the long term despite current near-term market weakness and worldwide economic uncertainty. The industry languished following the 2010 recovery posting slight declines in traffic in 2011 and thus far in 2012.

"Current industry uncertainty has brought a disparity of viewpoint concerning the future of the air cargo business, but economic activity – particularly world gross domestic product and industrial production – remains the key driver of the air cargo market," said Tom Crabtree, regional director, Business Development & Strategic Integration, Boeing Commercial Airplanes. "Over the long term, indicators such as GDP growth at 3.2 percent and the need for greater operational efficiency will prevail in the marketplace."

Boeing forecasts the world freighter fleet will increase to 3,198 airplanes from 1,738 by 2031. Large freighters – such as the Boeing 747 and 777 – will represent 36 percent of the fleet, compared to 31 percent today. The significant efficiency and capability advantages of large freighters will enable carriers to manage projected traffic growth without increasing the number of airplanes proportionately. Freighter demand will be met by 935 new factory-built airplanes, valued at $250 billion, with 1,820 freighters coming from passenger-to-freighter conversions. Conversions will account for about 66 percent of total demand.

"Air cargo is and will continue to be a vital tool for global businesses and commerce in the management of supply chains and bringing critical goods to market," said Crabtree.

Markets connecting Asia-Pacific will lead the industry in growth, with domestic China and intra-Asia traffic experiencing the highest percentage traffic growth, at 8 percent and 6.9 percent, respectively, over the 20-year forecast period. North America-Asia, Europe-South Asia, Europe-Asia, and Europe-Middle East also will be above the world average.

Fuel costs are expected to be volatile, but are not anticipated to move significantly higher than current levels. Additionally, shippers of such cargo as perishables and very high value commodities will continue to find value in the speed of air cargo.

Boeing provides the most complete and efficient freighter product line, including new production freighters and passenger-to-freighter conversions, teaming with industry leaders to provide innovative conversion solutions to match virtually any air cargo requirement.

The World Air Cargo Forecast 2012/2013 is available at http://www.boeing.com/commercial/cargo. Boeing has published the biennial World Air Cargo Forecast as an individual report since 1986.

Contact:
Bob Saling
Cargo Communications
+1 206 852-3327
[email protected]

More information: http://www.boeing.com/commercial/cargo

SOURCE Boeing

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
We all know the latest numbers: Gartner, Inc. forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from last year, and will reach 20.8 billion by 2020. We're rapidly approaching a data production of 40 zettabytes a day – more than we can every physically store, and exabytes and yottabytes are just around the corner. For many that’s a good sign, as data has been proven to equal money – IF it’s ingested, integrated, and analyzed fast enough. Without real-ti...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
As companies gain momentum, the need to maintain high quality products can outstrip their development team’s bandwidth for QA. Building out a large QA team (whether in-house or outsourced) can slow down development and significantly increases costs. This eBook takes QA profiles from 5 companies who successfully scaled up production without building a large QA team and includes: What to consider when choosing CI/CD tools How culture and communication can make or break implementation
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it ...
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
"Software-defined storage is a big problem in this industry because so many people have different definitions as they see fit to use it," stated Peter McCallum, VP of Datacenter Solutions at FalconStor Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...