India’s freighter fleet has tripled to 18 in the past six years and Boeing expects Indian carriers to procure more cargo aircraft to support the growth of domestic e-commerce and exports.
In its world air cargo forecast released earlier this month, Boeing expects a doubling of freight flows between South Asia and Europe, and a quadrupling of flows between South Asia and East Asia over the next two decades.
The domestic air cargo market in India, which accounts for less than one per cent of global cargo traffic, is estimated to grow four times over two decades, led by e-commerce sales. “Although still relatively small in volume compared to established e-commerce markets like China, the US, or the EU, Indian e-commerce volumes are growing faster than almost anywhere else, at more than 25 per cent per year,” Boeing said in its forecast.
The plane maker said India’s dedicated freighter fleet includes a mix of Airbus and Boeing planes flown by Blue Dart, IndiGo, Pradhaan Air, Quikjet and SpiceJet.
“We expect to see continued growth and activity to meet the Indian government’s stated goal of transporting 10 million tonnes of air freight by 2030, including the eventual need for larger widebodies like the Boeing 777 and 777-8 freighters,” a Boeing spokesperson said.
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Last March, Boeing selected Hyderabad-based GMR Aero Technic to convert Boeing 737 passenger aircraft into freighters.
Boeing has similar conversion facilities in China, Costa Rica and the UK. MRO (maintenance, repair and operations) facilities in Israel and the US carry out similar works, but Boeing has a far higher market share in the passenger-to-freighter conversion business.
“We are excited about setting up the first Boeing Converted Freighter (BCF) line in India and look forward to sharing more details as things evolve and we firm up our discussions with customers,” the spokesperson said.
Boeing said it has received more than 280 orders for the 737-800BCF from 20-plus customers and has delivered more than 180 units.
According to the forecast, the global air freighter fleet will rise to 3,900 by 2043, from 2,340 in 2023. The large widebody freighter fleet will nearly double in high-growth Asian markets.