Freighter Aircraft Market
Report ID: SQMIG20A2330
Report ID: SQMIG20A2330
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Report ID:
SQMIG20A2330 |
Region:
Global |
Published Date: May, 2025
Pages:
179
|Tables:
88
|Figures:
71
Global Freighter Aircraft Market size was valued at USD 7.18 Billion in 2024 and is poised to grow from USD 7.58 Billion in 2025 to USD 11.73 Billion by 2033, growing at a CAGR of 5.6% during the forecast period (2026–2033).
The global freighter aircraft market is going through tremendous transformation driven by evolving global trade trends and advancements in technology. Today, air cargo transports over USD 6 trillion worth of products annually, or approximately 35% of global trade in value, according to the International Air Transport Association (IATA). Digitalization of the sector is also accelerating, with airlines spending more on artificial intelligence and automation in operations to make them more efficient. Major airlines are equipping themselves with advanced tracking systems and online reservation systems, enabling tracking of packages in real-time and smooth operations. The push for sustainability has also gained speed, with carriers considering Sustainable Aviation Fuel (SAF) alternatives that can potentially reduce net carbon emissions by up to 80% compared with traditional jet fuel.
In addition, the e-commerce revolution has changed the air cargo sector tremendously, spurring record-breaking demand for conversion services and cargo airplanes. In 2024, global air cargo demand jumped 11.3% to a record high, pushed largely by cross-border e-commerce growth. Notably, e-commerce shipments accounted for an estimated 50% to 60% of China-U.S. air volumes and around 20% of total air cargo volumes, filling approximately 100 widebody freighter aircraft per day.
Market snapshot - 2026-2033
Global Market Size
USD 6.8 billion
Largest Segment
Turbofan Aircraft
Fastest Growth
Turboprop Aircraft
Growth Rate
5.6% CAGR
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Global Freighter Aircraft Market is segmented by Freighter Type, Aircraft Type, Engine, Application and region. Based on Freighter Type, the market is segmented into OEM Configured and P2F Converted. Based on Aircraft Type, the market is segmented into Narrow Body, Wide Body, Regional Aircraft and Others. Based on Engine, the market is segmented into Turboprop and Turbofan. Based on Application, the market is segmented into Commercial and Military. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
As per the 2024 global freighter aircraft industry analysis, the dedicated cargo aircraft segment continues to lead the market with approximately 61% market share. Its supremacy is being driven by growing expenditure on buying new dedicated freighter aircraft among major carriers around the world. Air carriers are investing heavily in dedicated freighter planes to handle the growing demands of global air freight transport. Strength in the segment is also enhanced by the solid demand from online business houses and the need for high-end cargo handling facilities.
The derivative of non-cargo aircraft segment has been expanding with the highest CAGR in freighter aircraft, registering a predicted growth of nearly 6% for the period of 2025-2032. Such impressive growth has been largely caused due to higher growth in passenger-to-freighter conversions that represent a cost-saving measure for air cargo capacity-restricted airlines. The converted passenger aircraft are particularly well suited for carrying lighter, bulkier freight such as e-commerce parcels.
Based on the 2024 global freighter aircraft market forecast, the turbofan aircraft category continues to lead the global freighter aircraft industry with a share of approximately 88%. This can be attributed to increasing expenditure on the procurement of new specialized freighter aircraft and increased focus on passenger-to-freighter conversions. Expansion in the segment is primarily by wide-body aircraft that have the capability of carrying containerized and palletized cargo on top and bottom (belly) decks, hence capable of applying both short regional and long-distance international routes. Major developments driving this segment are Airbus's new freighter A350F with next-generation efficiency with reduced fuel burn and CO2 emissions, and the A330-200F that meets cargo business requirements in mid-range and long-range segments. Conversion solutions like A330P2F and A321P2F are also providing cost-effective solutions to end-users, further strengthening the market position of the turbofan segment.
The turboprop aircraft category is a principal participant in short-haul and regional cargo flights in the cargo aircraft industry. These aircraft fit perfectly to deliver to airports that have short runway lengths and operate in challenging conditions. Turboprop freight aircraft, capable of carrying payload up to 10,000 pounds, fit perfectly to move small packages and perishable items and hence play a critical role in regional cargo networks.
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North America is a foremost contributor to the global freighter aircraft market, with the dominance of major cargo carriers and massive air transport networks. The United States and Canada are the key markets in North America, with the two countries possessing strong interest in the replacement of their freighter aircraft fleets and expanding air freight capacity. The region is underpinned by well-established aerospace manufacturing hubs, advanced technological capabilities, and airline and freight operator strategic ties. Industry majors like FedEx, UPS, and Atlas Air are also contributing to market growth with fleet expansion and upgrade initiatives.
The United States is still the North American largest market, with a market share of nearly 99% in 2024. The country's leadership is supported through the world's largest fleet of freighter aircraft and continued investment in aviation infrastructure. Major US airlines are hectic ramping up freighter fleets, with FedEx Express operating 697 aircraft in eight different variants. The country's robust e-commerce economy and widening international trade ties continue to be the principal forces driving demand for air cargo capacity. Boeing's establishment of new freighter conversion lines and increased focus on the production of fuel-efficient airplanes also further establish United States leadership in the market.
Canada stands out as the largest-growing market in North America, with a predicted growth rate of approximately 4% between 2025 and 2032. The country's strategic focus on air cargo capacity development and upgrading of existing infrastructure drives the growth. Canadian airlines are making solid investments in fleet expansion and future programs, with leading carriers Air Canada and WestJet establishing independent cargo units. The domestic online shopping market in the nation has developed tremendously, thus creating greater demand for freighter aircraft services. Cargojet's heavy investment in aircraft conversion programs and alliance with global logistics players yet again proves that Canada is making serious investments in freighter aircraft growth.
The European freighter aircraft market is a high-value market characterized by a rich mixture of mature carriers and new entrants in various countries. Germany, the United Kingdom, France, and Russia are leading the market in the region, and each contributes uniquely towards the market's dynamics. Europe has strong trading links, state-of-the-art aviation infrastructure, and increasing focus on green air cargo operations. The country has large aircraft production and conversion facilities, which enhance the country's standing in the global market.
France dominates the European freighter aircraft market, most significantly because Airbus has a production facility within the country and an otherwise healthy aerospace industry in the country, something that can sustain air cargo activity due to international logistics hubs such as Paris Charles de Gaulle Airport. Both increased demand for intra-European and transatlantic freight transport as well as increasing popularity of Airbus A330P2F and A350F models are leading to an acceleration of the expansion of the region's freighter fleet between 2024 and 2025.
The UK is the largest market in Europe, accounting for a regional market share of approximately 41% in 2024. The country's strategic position as a global hub and its well-developed aviation infrastructure allows it to maintain the leadership position. Huge operators like DHL Aviation UK and West Atlantic UK continue to expand, and new entrants like One Air introduce innovative freighter aircraft solutions into the market. The country's airports, particularly Heathrow and London Luton, are significant cargo hubs serving massive freight in the region.
Germany ranks as Europe's fastest-growing market with an estimated growth rate of about 5% over 2025-2032. The nation's robust manufacturing sector and status as a prime logistics hub propel this growth pattern. Large carriers like DHL and Lufthansa Cargo are preoccupied expanding freighter aircraft fleets and establishing additional cargo routes. The country's airports, for example, Frankfurt and Leipzig/Halle, serve as key cargo hubs, and increasing investment in green aviation offerings and digitalization plans keeps strengthening market expansion.
Asia-Pacific is a prime example of healthy growth opportunities in the freighter aircraft market fueled by speeding industrialization and a growing e-commerce economy in major countries. It is comprised of leading markets like China, India, Japan, and South Korea that all contribute to form a dynamic marketplace. Increasing volumes of commerce, improving consumption locally, and high spending on aviation-related infrastructure characterize the market in this region. The introduction of new freighter aircraft carriers along with upgrading the existing ones strengthens the trend of market growth even more.
China is still the region's largest market due to its huge number of manufacturers and growing e-commerce market. China's strategic initiative to construct new conversion centers and alliances with other international aviation industry stakeholders are part of its plan. China's large carriers are actively expanding freighter capacity, while increasing amounts of domestic and foreign trade lead to continued market growth.
As a result of its export of high-tech manufacturing and its high e-commerce development, South Korea is a major player in the Asia-Pacific freighter aircraft market. Additional growth in Korean Air Cargo's wide-body freighter fleet has helped the carrier maintain its position among the world's leading cargo carriers. New freighter demand and conversion programs are increasing with ongoing government support accorded to the aviation sector including infrastructure and growth in international trade with Southeast Asia and China.
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Evolution of E-Commerce
Growth in the Volume of Air Cargo Trade
High Operational and Maintenance Costs
Environmental Regulations and Concerns Regarding Emissions
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There is a lot of competition in the global freighter aircraft industry, and strategies that are centered on fleet growth, plane conversion, and green technology are being adopted. Boeing and Airbus are the most prominent firms in new freighter production, while firms such as ST Engineering and EFW are responsible for the conversion sector. Amazon and DHL have invested in their own propriety digitalized logistics infrastructure and fleets. Airlines are creating joint ventures, leasing structures, and cargo partnerships in order to achieve maximum route coverage and operational adaptability as far as cargo is concerned.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, due to the spread of e-commerce, global air cargo globalization, and the emergence of electronic supply chains, the global freighter aircraft market is rapidly changing. Demand for new constructions and P2F conversions has risen, especially in markets such as the Asia-Pacific region and North America. There are huge challenges, such as increasing operating expenses and concerns regarding the environment. Technological advancements like the implementation of artificial intelligence and fuel-efficient variants like the Airbus A350F and the Boeing 777-8F are defining the future of cargo aviation. Logistics companies are expanding their investments in joint ventures and in-house fleets, which is making competitive forces stronger. In general, it was expected that the sector would experience growth in the long term, with adaptability, sustainability, and automation being the three major pillars of success in the long term.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 7.18 Billion |
| Market size value in 2033 | USD 11.73 Billion |
| Growth Rate | 5.6% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Freighter Aircraft Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Freighter Aircraft Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Freighter Aircraft Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Freighter Aircraft Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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