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Boeing ACF 2018TORONTO: October 16, 2018. Boeing expects air cargo operators to order over 2,600 freighters by 2038 to meet the demands of a market dominated by e-commerce and express services that will contribute to a 4.2 percent annual rise in air cargo traffic.

Releasing its latest air cargo forecast at The International Air Cargo Association’s Air Cargo Forum this week, the manufacturer said it expects 980 new medium and large freighters and 1,670 converted freighters to replace older airplanes as well as add to expanding global fleets.

"The air cargo market continues to be a major element of commercial aviation's growth story," said Darren Hulst, managing director of Market Analysis & Sales Support at Boeing Commercial Airplanes. "Our new forecast indicates strong long-term air cargo trends, which coincide with the market recovery that we have seen over the last few years across Europe, North America, and Asia."

Boeing said some of the factors driving the growth in air cargo include a growing express market in China and the global rise of e-commerce that is forecast to increase 20 percent annually to nearly US$5 trillion by 2021.

The manufacturer projects orders for new production freighters at US$280 billion as the world freighter fleet grows to 3,260 aircraft over the next two decades. Since January 2017 the company has sold 128 freighters, including 80 production and 48 converted freighters.

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