Today, Cargo Facts Consulting (CFC) released its Marquis report, the 20-Year Freighter Forecast for 2023.
The Forecast projects the addition of 3,515 jet freighters and 393 feeder aircraft over the next 20 years for both growth and retirements of older aircraft. At the end of the last quarter, the global freighter fleet totaled 2,436.
“We see the freighter market continue its march forward, despite near-term headwinds,” said Guillermo Ochovo, Director of Cargo Facts Consulting. “The resilience and dynamism exhibited in the freighter market continue to bode well for industry participants.”
Passenger-to-freighter conversions by 2042 are expected to account for about 80% of fleet additions overall. According to CFC research, almost 90% of the current freighter fleet will retire through 2042.
The 20-year Forecast for 2023 assumes an underlying air cargo traffic growth rate of 3.3%, similar to CFC’s assumptions in 2022, due to the continuous long-term implications of weak economic conditions over the next several years.
The latest Forecast is released in conjunction with an overhaul of the entire CFC Insights platform designed to improve the user experience and make information more accessible. Through a series of dashboards and interactive maps and tools, users can better monitor critical aspects of the air cargo market.
The Cargo Facts Consulting Freighter Forecast, first released in 2006, is the first independent forecast of its kind. It remains a crucial data source for the industry.
“Our Freighter Forecast has established itself as a key data set leveraged by industry executives looking to improve their performance in the market,” Ochovo said. “We are excited to build on that legacy by continuing to improve the product and benefit our clients. The new interface and interactive tools will enable our clients to continue to better navigate the changing market dynamics.
“The 2023 Forecast was built on Cargo Facts Consulting’s exclusive proprietary methodology and based on CFC data that goes back more than three decades. The digital transformation allows users to access the data in a more interactive and streamlined format,” Ochovo added.
Improved Data Visualization. The upgraded Freighter Forecast dashboard, hosted on Power BI, provides interactive and easy-to-understand data visualization tools that help identify trends and insights.
Updated Data Accessibility. With the Freighter Forecast and Feedstock Tool now hosted on Power BI, users will enjoy more seamless access to the data from any device, including mobile. The tool allows users to refine freighter fleet forecast numbers based on different assumptions.
More Interactive Data. The Freighter Forecast report has been moved to an interactive dashboard with updated tools and sections. Our dashboard provides real-time insights and trends, allowing users to make informed decisions quickly.
The 2023 Freighter Forecast will be presented today by Guillermo Ochovo at the Cargo Facts Asia symposium in Singapore. This live event attracts top thought leaders from aircraft operators, aircraft lessors, service providers, and airlines from around the world.
For more information or to order the newly released edition, please visit Cargo Facts Consulting Insights.
ABOUT CARGO FACTS CONSULTING
Cargo Facts Consulting (CFC) is the premier aviation consulting firm specializing in the air cargo, express, e-commerce, and freighter business. The firm’s extensive experience stretches over forty years, beginning with the deregulation of the U.S. domestic air cargo industry in 1978. Since then, the firm has served a wide variety of U.S. and international clients, including integrated express operators, all-cargo airlines, combination carriers, financial institutions, airport authorities, aircraft manufacturers, and industry suppliers.