Freighter Aircraft Market Size, Share, Growth, Trends, and Global Industry Analysis: By Freighter Type (OEM Configured, P2F Converted), By Engine (Turboprop, Turbofan), By Aircraft Type (Narrow Body, Wide body, Regional Aircraft, and Others), By Application (Military, Commercial) and Region Forecast 2020-2031

Freighter Aircraft Market size was valued at US$ 21,400 million in 2024 and is projected to reach about US$ 30,600 million by 2031, expanding at a CAGR of 5.2% 2025–2031. Moreover, the U.S. Freighter Aircraft Market is expected to grow steadily, reaching an estimated value of US$ 11,400 million by 2031, supported by the rise in air cargo demand, fleet replacement, and growth in e-commerce logistics.

The worldwide freighter airplane market is witnessing a steady evolution against the background of changing global trade flows, expansion of e-commerce, and demands for punctual delivery of cargoes across continents. As the logistics landscape gets renewed, freight carriers are investing in future-generation freighters and passenger-to-freighter (P2F) conversions strategically to take advantage of capacity shortages. Demand is strongest in the Middle East and Asia-Pacific, where air cargo capacity and trade flows are growing exponentially. While the long-haul intercontinental traditional widebody freighter continues to be a cornerstone, narrowbody conversions are increasingly chic for regional connectivity as well as last-mile delivery. The market is no longer an aviation subsegment, it is increasingly a fulcrum of global supply chain resilience.

Facts & Figures

• The worldwide practice of having just-in-time inventory systems and transporting last miles more quickly has made the use of air cargo a major contributor, and as such, freighter aircraft have become the key to global logistics plans.
• Just more than 60% of total worldwide air freight capacity today is carried by dedicated freighters alone, as noted by the dip from earlier belly-hold freight on passenger planes, especially considering capacity shortages during pandemic years.
• Passenger-to-Freighter (P2F) conversion experienced record demand, especially among older narrowbodies such as the Boeing 737-800 and Airbus A321, fuelled by their cost-effectiveness and placement on high-frequency regional routes.
• E-commerce leaders and express logistics providers increasingly develop their own proprietary air fleets, reflecting a shift from third-party air cargo carriers to vertically integrated supply chains.

Key Developments

• In June 2025, Airbus' A350F stands out as a leader in sustainable long-haul cargo flight, the sole freighter currently designed from the outset to achieve ICAO's 2027 CO? standards, delivering 20% lower fuel consumption and emissions than rival aircraft.
• In June 2025, MNG Airlines of Turkey ordered two Airbus A350Fs at the 2025 Paris Air Show, highlighting increasing market confidence in new-generation widebody freighters. Airbus widens its advantage over Boeing in the large new-generation freighter segment, with a total of 75 A350F orders against approximately 55 for the 777-X freighter variant from Boeing.
• In June 2025, Saudi Arabia's AviLease ordered 10 A350 freighters under a historic 40-aircraft deal with Airbus, its first direct buy and an indication of increasing Middle East freighter investments.
• In June 2025, Airlink of Southern Africa will lease 10 new E195-E2 aircraft from Azorra, which will facilitate a 29% emissions reduction over its existing fleet and increase cargo and passenger routes across sub-Saharan Africa.

Freighter Aircraft Market Segmentation

Based on the Freighter type

• OEM Configured
• P2F Converted

Passenger-to-Freighter (P2F) converted aircraft are also emerging as a highly cost-effective and strategic option in the freighter type market. Airlines and lessors are finding conversion preferable to purchasing brand-new freighters, driven mainly by lower capital outlay and quicker turnaround. Older aircraft such as the Boeing 737-800 and Airbus A321, when retired from passenger service, are being given a new lease of life as highly efficient cargo workhorses for short- to medium-haul routes. The rapid increase in demand due to e-commerce and express at the regional level has made narrowbody conversion extremely attractive. Furthermore, P2F conversion enables operators to optimize aircraft life while tailoring load configurations, a flexible, expandable solution to OEM-specific freighters.

Based on the Engine

• Turboprop
• Turbofan

Most of the freighter aircraft are powered by turbofans, particularly for the medium- to larger-capacity freighters that operate in intercontinental and trans-oceanic services. Greater thrust-to-weight ratio, improved fuel efficiency at higher altitudes, and reduced noise footprint relative to turboprops make turbofan-powered freighters most suitable for long-distance, high-volume transport of freight. High-bypass turbofan-powered aircraft such as the Boeing 767F and 777F are the backbone of big cargo carriers like FedEx and Qatar Airways Cargo. The engines offer more payloads, range, and operating reliability across adverse weather conditions. With the demand for sustainability on the increase, new-generation turbofan engines are being built with tighter emission standards in mind while enhancing overall fuel efficiency.

Based on the Aircraft type

• Narrow Body
• Wide Body
• Regional Aircraft
• Others

Wide-body freight aircrafts are a staple of global cargo operations primarily due to the fact that they are capable of transporting large tonnage over great distances without requiring refueling. These aircraft, such as the Boeing 777F and Airbus A330-200F, are equipped to carry heavy and oversized cargo and are ideally suited for intercontinental freight networks. They are critical in connecting major global hubs and facilitating the exchange of high-demand sectors such as electronics, pharmaceuticals, and high-value manufacturing. Their wide-bodied capacity and range advantage enable fewer stops and more effective use of time, which is essential with time-sensitive cargo. With trade globalization, calls for frugal fuel burning, high-capacity wide-body cargo jets are likely to expand consistently.

Based on the Application

• Military
• Commercial

Commercial application dominates freighter plane use, driven primarily by the e-commerce explosion, expansion of third-party logistics, and heightened demand for just-in-time delivery. Such businesses are heavily investing in independent freighter fleets to address rising demand for speed, reliability of overseas shipping. Commercial carriers are not only growing organically but are also creating their own P2F conversion streams so as to have control over capacity. Commercial freight tends to handle sensitive cargo, like medical equipment, perishable goods, and high-value electronics, with requirements for specialized freighter equipment. The integration of digital logistics networks with real-time locating has further consolidated the commercial application's position as the economic driver of innovation and growth in the freighter aircraft industry.