http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.22Change: -0.10
R/$ = 10.61Change: -0.09
Au 1300.04 $/ozChange: -2.48
Pt 1480.50 $/ozChange: -8.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Oct 03, 2012

Boeing forecasts airfreight to grow strongly over next two decades

Back
Industrial|The Boeing|United States|Aerospace|Gross Domestic Product|Product|Supply Chains|Tom Crabtree|Boeing 747
Industrial|||||
industrial|the-boeing|united-states|aerospace|gross-domestic-product|product|supply-chains|tom-crabtree|boeing-747
© Reuse this



Giant US aerospace group Boeing predicted on Tuesday, in the latest (2012/2013) edition of its biennial Boeing World Air Cargo Forecast, that the world’s gross domestic product (GDP) will nearly double over the next 20 years, driving strong growth in the global air freight market. This will result in an 84% increase in the number of cargo aircraft in service between now and 2031.

“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,” stated Boeing Commercial Airplanes business development and strategic integration regional director Tom Crabtree.

Although air freight saw a recovery in 2010, this was followed by a slight decline in 2011, a decline which has continued, to date, in 2012. However, Boeing expects this decline, and the wider economic uncertainty underlying it, to continue only in the near-term.

“Over the long term, indicators such as GDP growth at 3.2% and the need for greater operational efficiency will prevail in the marketplace,” he affirmed. “Air cargo is and will continue to be a vital tool for global business and commerce in the management of supply chains and bringing critical goods to market.” Over the 20-year forecast period, the group sees global air cargo growing at an average annual rate of 5.2%.

In consequence, the world cargo aircraft fleet will grow from the current level of 1 738 to 3 198 by 2031. Of the 2031 total, 36% will be large freighters such as the Boeing 747 and 777 – today, such aircraft account for 31% of the global air freighter fleet. Increased use of larger aircraft will allow operators to manage the increase in traffic without having to increase the sizes of their fleets by an equivalent percentage.

Of the new freighter aircraft that will enter service over the next 20 years, 935 will be new-build aeroplanes (worth $250-billion), but 66% of the fleet (1 820 aircraft) will come from cargo conversions of existing passenger aircraft. A number of these aircraft will, of course, replace existing freighter aircraft.
 

Edited by: Creamer Media Reporter
© Reuse this Comment Guidelines
 
 
 
 
 
 
 
 
Other Aviation News
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
The Kenyan government will in October host the Africa Sustainable Transport Forum, funded by, among other parties, the United Nations and the World Bank. The aim of the conference is to develop an action plan for sustainable transport in Africa, says World Bank...
A locally designed and built aircraft has entered ground-testing phase at the Wonderboom Airport, in Pretoria, marking a significant milestone for South Africa-based defence solutions business Paramount Group.
More
 
 
Latest News
The Medupi power station project
Updated 5 hours ago Electricity producer Eskom has, for the first time, offered a detailed timeline for the synchronisation of Medupi Unit 6, which is officially scheduled for December 15, 2014. Addressing a joint meeting of the Portfolio Committees on Public Enterprises and Energy on...
Updated 5 hours ago As South Africa had largely exhausted the use of traditional mechanisms to stimulate the fiscus, government now needed to swing its focus to dealing with the internal structural issues that had, thus far, prevented the country from unlocking its true economic value,...
Updated 5 hours ago The Western Cape High Court will on Monday hear a Sanral application for information about the proposed N1/N2 Winelands Toll Highway Project to be kept secret, the City of Cape Town said. The application would be heard behind closed doors, mayoral committee member...
More
 
 
Recent Research Reports
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
Real Economy Insight: Steel 2014 (PDF Report)
This four-page brief covers key developments in the steel industry over the past 12 months. It provides an overview of the global and South African steel and stainless steel markets, South Africa’s major steel producers and events that have shaped these markets.
 
 
 
 
 
This Week's Magazine
Multinational semiconductor chipmaker corporation Intel announced its national campaign to further acquire partners to drive its She Will Connect programme, an initiative that aims to expand digital literacy skills to young women in developing countries, further into...
South Africa's MeerKAT radio telescope array programme should get back on schedule within a few months. This assurance has been given by SKA South Africa (SKA SA) associate director: science and technology Prof Justin Jonas. Early last month, Science and Technology...
The Passenger Rail Agency of South Africa’s (PRASA’s) Metrorail service will remain a subsidised service following its current multibillion-rand rolling stock, station, depot and signalling upgrade programme. PRASA group CEO Lucky Montana has allayed fears that...
GARYN RAPSON Contaminated Land Provisions in the National Environmental Management: Waste Act No 59 of 2008 will open the door for court battles to determine who will be held liable for the remediation
The uncertainties around the remediation of affected areas as addressed in the Contaminated Land Provisions in the National Environmental Management: Waste Act No 59 of 2008 will possibly spark litigation and disputes between landowners and businesses, contractors...
South Africa is currently the largest component of the African Development Bank’s (AfDB’s) active portfolio in Southern Africa, comprising 62.5% of the bank’s $7.9-billion exposure to the 12-country region – the second largest beneficiary is Mauritius, which...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks