Boeing Sees Boom In Air Cargo Market

Steady growth is in store for the world’s air-cargo industry over the next 20 years, and the fleet of freighter aircraft will double in size as a result, The Boeing Co. says.

In its 1996 “World Air Cargo Forecast,” released Thursday, Boeing estimates air cargo traffic will grow 6.6 percent a year, compared with 5.1 percent for passenger traffic.

“The cargo side of our business is important, because it can often mean the difference between an annual profit or loss” for airlines, said Bruce Dennis, vice president of marketing for Boeing Commercial Airplane Group.

Boeing expects more than 2,000 new freighters will be needed over the next two decades, both to accommodate growth and to replace older planes, Dennis said.

The world’s all-cargo fleet would rise from 1,219 planes at the end of 1995, to 2,261 planes by 2015.

Thomas Weidemeyer, president of United Parcel Service, agreed the outlook is strong.

Weidemeyer was at Boeing’s Everett plant Thursday to pick up a new 767 cargo jet, and said demand is so great “we are putting this airplane straight into service today.”

Boeing’s forecast sees the biggest growth - about 600 planes - will be in large-capacity freighters such as the 767 and 747.