Air Cargo Traffic to Grow

Global air cargo traffic will grow at an annual rate of 4.2% over the next 20 years, with 930 new and 1,440 converted freighters needed to meet market demand by 2035, according to a new report released by Boeing, TradeArabia reported. The company released its biennial World Air Cargo Forecast at the International Air Cargo Association Air Cargo Forum and Exhibition in Paris, France. 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% in volume and 39% in revenue.