China’s freighter fleet is expected to nearly triple by 2043, with demand stimulated by its booming e-commerce sector.
Boeing’s 2024 Commercial Market Outlook (CMO) for China found that 170 freighter deliveries are expected between 2024 and 2043. This number includes both newbuild and conversion models.
“China’s commercial aviation market for passengers and cargo continues to expand, driven by economic growth and airlines building their in-country networks,” said Darren Hulst, Boeing vice president of commercial marketing.
“As this forecast shows, China’s airlines will see strong demand, requiring further growth of their modern fuel-efficient fleets.”
China’s commercial fleet will grow 4.1% annually, from 4,345 to 9,740 airplanes by 2043, and its annual passenger traffic growth of 5.9% will exceed the global average of 4.7%, according to the CMO.
Looking at the wider air cargo market, Boeing anticipates 3,900 freighters in the global fleet by 2043.
The airframer expects the global air cargo market will need 2,845 more new and converted freighters by 2043, compared with last year’s forecast of 2,825.
This will include 1,250 standard body aircraft, 810 large widebody aircraft and 785 medium widebody aircraft.
The report found that the average widebody freighter fleet age is 17.9, up from 17 in 2019.