Boeing Upbeat about Cargo
 

From ATW Daily News:


Boeing projects 5.8% average annual airfreight traffic growth

Friday November 7, 2008

Boeing predicted this week that world air cargo traffic will grow 5.8% annually over the next 20 years, down slightly from the 6.1% rate it projected in previous forecasts. Its newly released "2008/2009 World Cargo Forecast" said worldwide airfreight traffic will triple by 2027 and that "current near-term market weakness and worldwide economic uncertainty" won't significantly affect long-term demand. "The industry has shown strong recoveries from previous economic downturns such as the Asian economic crisis, the 9/11 attacks and the SARS outbreak," it said.

Global airfreight traffic growth is projected to be driven by the Asian market. "Asian production fundamentals, including abundant raw materials and low-cost labor, remain solid and China will remain a source of strong economic growth with substantial industrialization and related investment," Boeing said. It predicted that the world freighter fleet will increase to 3,890 aircraft in 2027 from 1,950 currently, with 3,360 joining the fleet over the next two decades. More than 75% of the additions will be from conversions.

Yeah, in related news GM is forecasting a return to profitability for SUVs.