Boeing expects freighter demand growth to slow over 20 years

DEMAND for air freighters will remain sluggish for the next 20 years, according to Boeing's latest industry outlook, with the total sales estimated at 940 new aircraft and 1,820 conversions.

Asia-Pacific carriers are expected to produce the highest demand, amounting to 12,030 aircraft of all types. In the Americas, the company estimated a need for nearly 10,000 planes, and European carriers will require more than 7,500 aircraft.

Nonetheless, this will almost double to 3,200 aircraft by 2031, according to the latest fleet forecast from the US plane maker, which added that this will generate demand for 34,000 new aircraft costing US$4.5 trillion.

Most passenger aircraft demand will come in the form of single-aisle craft, said the company's 2012 Current Market Outlook. Boeing is also expecting a demand for 7,950 twin-aisle planes, generating revenues of $2.08 billion.

"The world's aviation market is broader, deeper and more diverse than we've ever seen it," said Boeing vice president Randy Tinseth. "It has proven to be resilient even during challenging years and is driving production rate increases across the board."