Boeing Expects Its Air Freight Traffic to Double by 2033

   By Chelsey Dulaney 
 

Boeing Co. on Tuesday said it expects its air freight traffic to more than double by 2033, bolstered by recovery in the industry after years of lackluster trade growth and a weak world economy.

The U.S. airplane maker said it expects air cargo traffic to grow by about 4.7% annually for the next two decades. Air cargo traffic began to pick back up in the second quarter of 2013 after years of stagnation.

Amid the sluggish cargo market, Boeing has seen a boom in demand for new passenger jets. In July, the company raised its 20-year forecast for growth in the market for new jetliners as operators scramble to order smaller, more fuel-efficient aircraft to cater to rising volumes of budget travelers, notably in Asia.

Boeing said Tuesday it expects Asia-North America and Europe-Asia to continue to be the dominant air cargo markets, while it expects intra-Asia and domestic China markets to post the fastest growth rates.

The company also said it expects to deliver 840 new factory-built airplanes and 1,330 passenger to freighter conversion planes by 2033.

Write to Chelsey Dulaney at [e-mail]

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