Boeing Forecasts World Air Cargo Traffic to Grow Long Term as Economy Strengthens

Boeing projects that trade, e-commerce are primary factors driving growth

Boeing (one of DiversityInc's 25 Noteworthy Companies) projects air cargo traffic will grow at an annual rate of 4.2 percent over the next 20 years, with 930 new and 1,440 converted freighters needed to meet market demand by 2035.


The company released its biennial World Air Cargo Forecast at TIACA (The International Air Cargo Association) Air Cargo Forum and Exhibition in Paris today.

"The air cargo market has faced several years of below trend growth," said Randy Tinseth, vice president, Marketing, Boeing Commercial Airplanes. "As trade continues to recover, we're confident the air cargo market will see growth over the long-term."

Boeing projects the e-commerce market will be one of the primary factors driving that growth, reaching $3.6 trillion by 2020. Additionally, China's express market keeps expanding, with a five-year growth rate of 55 percent in volume and 39 percent in revenue.

The forecast shows markets linked to Asia will lead all other international markets in average air cargo growth. Dedicated freighters still carry more than half of air cargo traffic and remain the leading cargo capacity provider.

Boeing projects air cargo traffic will grow at an annual rate of 4.2 percent over the next 20 years, with 930 new and 1,440 converted freighters needed to meet market demand by 2035.

Boeing forecasts that the world air cargo fleet will expand by 70 percent by 2035, adding a total of 2,370 freighters to the market. The forecast sees demand for 550 large production freighters, 380 production medium widebody freighters, 400 widebody conversion freighters and 1,040 medium conversion freighters.

Boeing products make up more than 90 percent of the world's dedicated freighter capacity. Boeing offers integrated solution for freighter operators, whether they carry express cargo or industrial goods.

"Air cargo is critical to global trade, and Boeing offers the most comprehensive product lineup in the industry," said Tinseth. "Our airplanes provide capacity and reliability advantages that will help our customers adapt and succeed in the evolving air cargo marketplace."

From standard-body freighters to large freighters, the Boeing Freighter Family has an unmatched selection of capacity and capability with superior economics. Boeing offers a complete family of production freighters – the 767-300, 777 and 747-8 Freighters – as well as the 737BCF and 767-300BCF conversion freighters.

The 2016 World Air Cargo Forecast is available for download here. Boeing has published the biennial World Air Cargo Forecast for the past three decades.

Boeing Announces $6 million Investment in Thurgood Marshall College Fund

Investment aimed at developing diverse students interested in aerospace careers.

Originally Published by Boeing.

Boeing announced a $6 million investment in the future technical workforce through a partnership with the Thurgood Marshall College Fund (TMCF), the nation's largest organization exclusively representing the black college community.

To date, TMCF has awarded more than $300 million in assistance to Historically Black Colleges and Universities (HBCUs). In addition to scholarships, TMCF provides programmatic, capacity building, public policy and advocacy support for its 47 member-schools and the nearly 300,000 students that attend them.

"This investment is another example of how we are building a diverse pipeline of future talent," said Michael Ford, Boeing vice president of Global Diversity and Inclusion. "Through scholarships, internships, on-campus engagements and immersive opportunities at Boeing, we hope to inspire and enable HBCU students to pursue careers in the aerospace industry."

"The support from Boeing is more than a gift," said Dr. Harry L. Williams, TMCF president and CEO. "It is the manifestation of a long-term strategic partnership that will change the trajectory of so many innovative, intelligent and deserving students."

The investment will fund scholarships, internships, on-campus engagements and immersive "boot camp" programs that will introduce students to Boeing's culture and career paths. Eight HBCUs will benefit from this support, including:

  • Alabama A&M University
  • Clark Atlanta University
  • Morehouse College
  • Spelman College
  • Howard University
  • Morgan State University
  • North Carolina A&T State University
  • Tuskegee University

Students from other HBCUs can also take advantage of the investment through TMCF's award-winning Leadership Institute.

The announcement builds on Boeing's ongoing investment in HBCUs, including South Carolina State University, Southern University, Prairie View A&M University, Florida A&M University and Tennessee State University.

Boeing Announces Details of $100 Million Employee Education Investment

Crowdsourcing drives new learning programs funded by U.S tax reform savings.

Originally Published by Boeing.

Boeing launched new workforce development programs, the latest step in fulfilling its 2017 pledge to invest $300 million in employees, infrastructure and local communities as a result of U.S. tax reform.

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​Boeing and Motorola Solutions Foundation present inaugural Chicago STEM Signing Day

50 Chicago-area students recognized for academic achievements in STEM. Chicago Public Schools CEO Janice Jackson among attendees

Originally Published by Boeing.

Just like signing days for athletes, the inaugural Chicago Science, Technology, Engineering and Mathematics (STEM) Signing Day on Thursday, May 24, celebrated high school seniors from across the Chicagoland area as they made commitments to some of the country's top technical schools, colleges and universities. These students will apply their talents in pursuit of STEM careers that will place them on the fast track to success in technical fields like those in the aerospace and telecommunications industries.

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