- Dedicated Cargo Aircraft
- Derivative of Non-cargo Aircraft
Freighter Aircraft Market size was valued at USD 808.08 million in 2022 and is poised to grow at a CAGR of 4.4% from 2023 to 2029. A freighter aircraft is a fixed-wing aircraft that is designed for the carriage of cargo rather than passengers. Such aircraft usually do not incorporate passenger facilities and generally have the feature of one or more large doors for loading cargo. The e-commerce sector's emergence on a large scale across the globe is primarily driving the freighter aircraft market. As per IATA, the full-year demand for air cargo increased by 6.9% in 2021, compared to 2019 (pre-COVID-19 levels) and 18.7% compared to 2020, following a robust performance in December 2021. Additionally, with steady developments in freighter aircraft, such as Astral Aviation announced that it will operate the first-ever Airbus A320 passenger to freighter (P2F) converted aircraft. Another company, IAI, plans to open a new facility with Sharp Technics at South Korea’s Incheon Airport for the conversion of Boeing 777s in 2024. Such developments over the globe are expected to boost the freighter aircraft market growth over the forecast period. Amidst the global COVID-19 pandemic, many airlines had made their passenger aircraft into cargo aircraft for the conveyance of medical equipment and to cover up the loss, as air passenger transportation is restricted in many foremost aviation hubs.
Freighter Aircraft Market Key Developments:
In November 2021, Emirates signed a deal with IAI to convert four 777-300ERs into freighters, citing its ability to carry high volumes of e-commerce as the key factor
In December 2021, the global logistics company DHL Express announced that it had placed an order for eight more Boeing 777 freighters. The deal marks another step in DHL Express expansion of its intercontinental air network to serve the rapidly growing international express shipping market.
Freighter Aircraft Market Summary
Study Period
2023-29
Base Year
2022
CAGR
4.4%
Largest Market
North America
Fastest Growing Market
Asia Pacific
Freighter Aircraft Market Dynamics
The market for freighter aircraft demand is primarily driven by the rise in new trade relationships among different countries and rapid growth in e-commerce activities across the world. With the progressive growth of e-commerce in current decades, the pickup in demand for both consumer and industrial goods during this pandemic made cargo carriers and logistics companies turn to air freighters. During the COVID-19 pandemic, canceled flights resulted in a sharp decline in the capacity to store freight in the cargo holds of passenger aircraft ("belly cargo") also increased air freight demand for items such as personal protective equipment (PPE) caused the pandemic affected certain products imports, consequently a sharp increase in air freight demand, as well as increased volatility compared to the last few years. The global freighter aircraft market is constrained by the high cost and further modification of freighter aircraft products.
Asia-Pacific Got Significant Share
Freighter Aircraft Market
The Asia-Pacific region accounts for a considerable growth rate in the coming next years due to the increasing demand for air cargo. The increasing demand for air cargo is primarily due to the increasing demand for the e-commerce sector. The rising preference for online shopping and the presence of manufacturing facilities for electronics and other commercial goods in countries like China, India, Japan, Cambodia, and Vietnam is driving the freighter aircraft market. China's domestic air travel market drives the demand for narrow-body aircraft and makes them more dominant for freighter operations. These advanced developments in these regions will surely expand the market globally.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The freighter aircraft market report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and startup details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
- The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Freighter Aircraft Market Segmentation
By Aircraft Type
By Engine Type
- Turboprop Aircraft
- Turbofan Aircraft
By Geography
- North America
- Europe
- The Asia Pacific
- Latin America
- MEA
Frequently Asked Questions
Freighter aircraft are of various sizes, specifically designed for shipping cargoes. It is also known as an airlifter, cargo jet, or cargo aircraft. The features of the freighter aircraft are completely different from passenger aircraft and do not integrate passenger planes, design models and its transit time ranges from short to long-distance flights.
A rise in new trade relationships amongst different countries and rapid growth in e-commerce industries worldwide.
The derivative of the non-cargo aircraft segment accounts for a significant market share, and it is expected to register the highest CAGR over the forecast
The leading players in the global flare gas recovery systems market report are Airbus SE, The Boeing Company, Precision Aircraft Solution, Textron Inc., Singapore, Technologies Engineering Ltd, Aviation Industry Corporation of China, ATR, KF Aerospace
| 1. Executive Summary |
| 2. Global Freighter Aircraft Market Introduction |
| 2.1. Global Freighter Aircraft Market - Taxonomy |
| 2.2. Global Freighter Aircraft Market - Definitions |
| 2.2.1. Aircraft Type |
| 2.2.2. Engine Type |
| 2.2.3. Geography |
| 3. Global Freighter Aircraft Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Freighter Aircraft Market Dynamic Factors - Impact Analysis |
| 3.6. Global Freighter Aircraft Market - Competition Landscape |
| 4. Global Freighter Aircraft Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 |
| 4.1. Market Analysis, 2018 - 2022 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Freighter Aircraft Market, By Aircraft Type, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.1. Dedicated Cargo Aircraft |
| 5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Derivative of Non-cargo Aircraft |
| 5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6. Global Freighter Aircraft Market, By Engine Type, 2018-2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.1. Turboprop Aircraft |
| 6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Turbofan aircraft |
| 6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7. Global Freighter Aircraft Market Forecast, By Region, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2018 - 2022 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2018 - 2022 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global Freighter Aircraft Market - Opportunity Analysis Index, By Aircraft Type, Engine Type, and Region, 2022 - 2028 |
| 8. North America Freighter Aircraft Market Analysis,2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.1. Aircraft Type Analysis 2018 - 2022and Forecast 2022 - 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Dedicated Cargo Aircraft |
| 8.1.2. Derivative of Non-cargo Aircraft |
| 8.2. Engine Type Analysis 2018 - 2022 and Forecast 2022 - 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1. Turboprop Aircraft |
| 8.2.2. Turbofan Aircraft |
| 8.3. Country Analysis 2018 - 2022 and Forecast 2022 - 2028by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. USA |
| 8.3.2. Canada |
| 8.4. North America Freighter Aircraft Market - Opportunity Analysis Index, By Aircraft Type, Engine Type, and Country, 2022 - 2028 |
| 8.5. North America Freighter Aircraft Market Dynamics, Trends |
| 9. Europe Freighter Aircraft Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 9.1. Aircraft Type Analysis 2018 - 2022and Forecast 2022 - 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Dedicated Cargo Aircraft |
| 9.1.2. Derivative of Non-cargo Aircraft |
| 9.2. Engine Type Analysis 2018 - 2022 and Forecast 2022 - 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1. Turboprop Aircraft |
| 9.2.2. Turbofan Aircraft |
| 9.3. Country Analysis 2018 - 2022and Forecast 2022 - 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Spain |
| 9.3.5. Italy |
| 9.3.6. Russia |
| 9.3.7. Poland |
| 9.3.8. Rest of Europe |
| 9.4. Europe Freighter Aircraft Market - Opportunity Analysis Index, By Aircraft Type, Engine Type, and Country, 2022 - 2028 |
| 9.5. Europe Freighter Aircraft Market Dynamics - Trends |
| 10. Asia-Pacific Freighter Aircraft Market Analysis, 2018 - 2022 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 10.1. Aircraft Type Analysis 2018 - 2022and Forecast 2022 - 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Dedicated Cargo Aircraft |
| 10.1.2. Derivative of Non-cargo Aircraft |
| 10.2. Engine Type Analysis 2018 - 2022 and Forecast 2022 - 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Turboprop Aircraft |
| 10.2.2. Turbofan Aircraft |
| 10.3. Country Analysis2018 - 2022and Forecast 2022 - 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Japan |
| 10.3.2. China |
| 10.3.3. India |
| 10.3.4. ASEAN |
| 10.3.5. Australia & New Zealand |
| 10.3.6. Rest of Asia-Pacific |
| 10.4. Asia-Pacific Freighter Aircraft Market - Opportunity Analysis Index, By Aircraft Type, Engine Type, and Country,2022 - 2028 |
| 10.5. Asia-Pacific Freighter Aircraft Market Dynamics – Trends |
| 11. Latin America Freighter Aircraft Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 11.1. Aircraft Type Analysis 2018 - 2022and Forecast 2022 - 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Dedicated Cargo Aircraft |
| 11.1.2. Derivative of Non-cargo Aircraft |
| 11.2. Engine Type Analysis 2018 - 2022 and Forecast 2022 - 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Turboprop Aircraft |
| 11.2.2. Turbofan Aircraft |
| 11.3. Country Analysis 2018 - 2022and Forecast 2022 - 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Mexico |
| 11.3.3. Argentina |
| 11.3.4. Rest of Latin America |
| 11.4. Latin America Freighter Aircraft Market - Opportunity Analysis Index, By Aircraft Type, Engine Type, and Country, 2022 - 2028 |
| 11.5. Latin America Freighter Aircraft Market Dynamics - Trends |
| 12. Middle East and Africa Freighter Aircraft Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 12.1. Aircraft Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Dedicated Cargo Aircraft |
| 12.1.2. Derivative of Non-cargo Aircraft |
| 12.2. Engine Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. Turboprop Aircraft |
| 12.2.2. Turbofan Aircraft |
| 12.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Gulf Cooperation Council (GCC) Countries |
| 12.3.2. Israel |
| 12.3.3. South Africa |
| 12.3.4. Rest of MEA |
| 12.4. MEA Freighter Aircraft Market - Opportunity Analysis Index, By Aircraft Type, Engine Type and Country, 2023 - 2029 |
| 12.5. MEA Freighter Aircraft Market Dynamics - Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Aircraft Type& Service Engine Types, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. Airbus SE |
| 13.2.2. The Boeing Company |
| 13.2.3. Precision Aircraft Solution |
| 13.2.4. Textron Inc. |
| 13.2.5. Singapore Technologies Engineering Ltd |
| 13.2.6. Aviation Industry Corporation of China |
| 13.2.7. ATR |
| 13.2.8. KF Aerospace |
| 13.2.9. Aeronautical Engineers Inc. |
| 13.2.10. Israel Aerospace Industries Ltd |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
- Airbus SE
- The Boeing Company
- Precision Aircraft Solution
- Textron Inc.
- Singapore Technologies Engineering Ltd
- Aviation Industry Corporation of China
- ATR
- KF Aerospace
- Aeronautical Engineers Inc.
- Israel Aerospace Industries Ltd