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Freighter Aircraft Market Size (2024 - 2029)

The freighter aircraft market is projected to experience significant growth, driven by the expansion of global trade relationships and the rapid increase in e-commerce activities. This growth in demand for air cargo is contributing to the rising need for freighter aircraft worldwide. While governments are implementing regulations to facilitate smoother operations, compliance remains a challenge for some operators, potentially impacting the market. Trends such as digitization, sustainability, and the expansion of air freight as an omnichannel are expected to further enhance the market's expansion.

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Market Size of Freighter Aircraft Industry

Freighter Aircraft Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 6.57 Billion
Market Size (2029) USD 8.70 Billion
CAGR (2024 - 2029) 5.76 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration High

Major Players

Freighter Aircraft Market Major Players

*Disclaimer: Major Players sorted in no particular order

Freighter Aircraft Market Analysis

The Freighter Aircraft Market size is estimated at USD 6.57 billion in 2024, and is expected to reach USD 8.70 billion by 2029, growing at a CAGR of 5.76% during the forecast period (2024-2029).

The rise in new trade relationships among countries and rapid growth in global e-commerce activities primarily drive the freighter aircraft market鈥檚 demand. The increased demand for air cargo also leads to a growing demand for freighter aircraft worldwide.

Globally, governments have formed various rules or policies to ensure smoother freighter operations. Although some freighter operators have adhered to the guidelines, many still need to comply, which can hamper freighter operations during the forecast period. The latest trends, such as an increasing focus on digitization and sustainability, air freight as an omnichannel, increasing freighter aircraft capacity, and increasing the price of consignment, are also expected to boost market growth.

Freighter Aircraft Industry Segmentation

A freighter or cargo aircraft is designed or converted for transportation of cargo rather than passengers. These aircraft types usually do not carry passengers and feature one or more large doors for loading cargo. They are operated by cargo airlines, civil passengers, private individuals, or the armed forces of individual countries.

The freighter aircraft market is segmented by aircraft type, engine type, and geography. By aircraft type, the market is segmented into dedicated cargo aircraft and derivative of non-cargo aircraft. By engine type, it is segmented into turboprop and turbofan. The report also offers the market size and forecasts for the freighter aircraft market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).

Aircraft Type
Dedicated Cargo Aircraft
Derivative of Non-cargo Aircraft
Engine Type
Turboprop Aircraft
Turbofan Aircraft
Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
United Arab Emirates
Saudi Arabia
Turkey
Rest of Middle East and Africa
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Freighter Aircraft Market Size Summary

The freighter aircraft market is poised for significant growth, driven by the expansion of global trade relationships and the rapid increase in e-commerce activities. This surge in air cargo demand is propelling the need for freighter aircraft worldwide. Despite the challenges posed by varying compliance with government regulations, the market is benefiting from trends such as digitization, sustainability, and the expansion of air freight as an omnichannel solution. The conversion of passenger aircraft to freighters is a notable trend, addressing air cargo capacity constraints and enhancing the market's growth prospects. Key aircraft programs like Boeing B757, B737, and Airbus A321 and A320 are central to this transformation, with companies like Astral Aviation and IAI leading initiatives to expand their freighter fleets.

The Asia-Pacific region is expected to experience the highest growth rate, fueled by the burgeoning e-commerce sector and increasing demand for air cargo. Countries like China, India, and Japan are at the forefront, with their developed economies and high urban density driving the market. The region's focus on online shopping and electronics production further supports this trend. The market is characterized by consolidation, with major players such as Boeing, Airbus, and Textron Inc. actively participating in both manufacturing and conversion services. Recent developments, including Airbus's A350 Freighter program and the introduction of converted freighters by airlines like BBN Airlines and Mountain Cargo, underscore the dynamic nature of the market and its potential for continued expansion.

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Freighter Aircraft Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Aircraft Type

      1. 2.1.1 Dedicated Cargo Aircraft

      2. 2.1.2 Derivative of Non-cargo Aircraft

    2. 2.2 Engine Type

      1. 2.2.1 Turboprop Aircraft

      2. 2.2.2 Turbofan Aircraft

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Russia

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Rest of Latin America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 United Arab Emirates

        2. 2.3.5.2 Saudi Arabia

        3. 2.3.5.3 Turkey

        4. 2.3.5.4 Rest of Middle East and Africa

Freighter Aircraft Market Size FAQs

The Freighter Aircraft Market size is expected to reach USD 6.57 billion in 2024 and grow at a CAGR of 5.76% to reach USD 8.70 billion by 2029.

In 2024, the Freighter Aircraft Market size is expected to reach USD 6.57 billion.

Freighter Aircraft Market Report Snapshots

Freighter Aircraft Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)