Jul 20, 2020 (Market Insight Reports) -- Freighter Aircraft Industry Opportunities, Challenges, Strategies, Industry Verticals & Forecasts" offers detailed coverage of the Market and presents main market trends. The market research gives historical and forecast market size, demand, end-use details, price trends, and company shares of the leading Market producers to provide exhaustive coverage of the market.
According to the study, the Freighter Aircraft is expected to exhibit a growth rate of over 5% during the forecast period (2020-2025).
Some of the major players of the America Freighter Aircraft market are:
Airbus SE, Lockheed Martin Corporation, The Boeing Company, Textron Inc., ATR, Aeronautical Engineers, Inc., Precision Aircraft, ST Engineering, Pemco Conversion, Israel Aerospace Industries Ltd., KELOWNA FLIGHTCRAFT, amongst others.
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– The American region comprising of North and Latin America exhibits a significant growth rate in terms of cargo traffic. In 2018, North America and Latin America exhibited a growth of 5.9% and 6% respectively in terms of Freight-Tonnes-Kilometers. This growth is driving the demand for freighter aircraft in the America region.
– The recent COVID19 outbreak has weakened the economies in North and Latin America and this is directly impacting the air cargo trade. However, the air cargo in North America is returning to normal as demand for essential commodities such as food and medical supplies are increasing and many freight airliners are using their aircraft at full utilization rate. The ongoing efforts to integrate the trade ecosystem between the Caribbean and Latin American nations are also fueling the rise in demand for freight aircraft in the future.
– Despite the fall in international belly cargo capacity, the demand and prices for freighter aircraft are rising in the region. The International dedicated cargo capacity exhibited a growth rate of 6% in March 2020 and a major part of this growth is coming from the North America region. In 2020, LATAM airlines increased its freighter frequencies and changed many routes to provide more cargo capacities and this factor is expected to propel the freighter aircraft market in the Latin American region during the forecast period.
Key Market Trends
A derivative of Non-Cargo Aircraft Segment to Exhibit the Highest Growth Rate During the Forecast Period
The increase in air cargo transport and the recent COVID 19 outbreak has propelled the demand for the passenger to freighter conversion aircraft. Since constraints have been implemented on cargo trade capacities in the region, major regional airlines such as LATAM, United Airlines, Delta Airlines, etc. are using their fleet of Boeing 777 and 787 passenger aircraft to transport cargo to a domestic and international destination. Air Canada is reconfiguring three of its Boeing 777-300 ER aircraft for cargo transportation. International collaborations and innovations are also expected to fuel the market growth for the Derivative of Non-Cargo Aircraft segment during the forecast period.
Elbe Flugzeugwerke, which is a joint venture between Airbus and ST Engineering will convert the retired A321 passenger aircraft to cargo freighters. The first flight of the new freighter aircraft is expected to take-off during late 2020 and after the EASA certification, the new model will be available for global use. Airbus is also developing a modification solution for A330 and A350 aircraft that will incorporate the direct installation of freight pallets on the cabin floor after the removal of economy seats. The aforementioned factors are driving the market growth for Derivative of the Non-Cargo Aircraft segment in the region.
Browse the report description and TOC:
Table of Contents:
2 Freighter Aircraft Market Research Methodology
3 Executive Summary
4 Freighter Aircraft Market Dynamics
5 Freighter Aircraft Market Segmentation
6 Competitive Landscape
7 Freighter Aircraft Market Opportunities And Future Trends
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.