World air cargo traffic will expand at a 5.9 per cent annual rate over the next two decades, with worldwide air freight traffic expected to triple through to 2029, according to the Boeing World Air Cargo Forecast 2010/2011.
Air cargo traffic rebounded strongly from November 2009 and continued to grow during the first eight months of 2010. As a result, world air cargo traffic is expected to regain its 2007 peak by the end of the year, the biennial forecast, released at the International Air Cargo Forum 2010 last week in Amsterdam, said.
Asian air cargo market growth will continue to lead all global traffic routes, Boeing predicts. Chinese and intra-Asian markets will grow 9.2 per cent and 7.9 per cent per year, respectively. Asia-related markets will grow faster than the global average.
'Economic activity - world gross domestic product - is the key driver of the air cargo market,' said Jerry Allyne, vice president, strategic planning and analysis, Boeing Commercial Airplanes.
'Industrial requirements are driving the rebound, as air cargo is an essential tool for industry and commerce to manage supply chains and bring goods to market,' he added.
The 2008-2009 period marked the first time that air cargo traffic contracted for two consecutive years.
