DUBLIN--(BUSINESS WIRE)--The "Freighter Aircraft Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The freighter aircraft market is projected to grow with a CAGR of more than 4.5% during the forecast period.
Companies Mentioned
- The Boeing Company
- Airbus SE
- Textron Inc.
- Aviation Industry Corporation of China
- ATR
- KF Aerospace
- Singapore Technologies Engineering Ltd
- Aeronautical Engineers, Inc.
- Precision Aircraft Solution
- Israel Aerospace Industries Ltd.
Key Market Trends
Derivative of Non-Cargo Aircraft Segment is Anticipated to Register the Highest CAGR During the Forecast Period
The Derivative of Non-Cargo Aircraft segment accounts for more than 60% of the market share and is anticipated to register the highest CAGR during the forecast period. This is mainly due to the increasing preference of the airlines to replace their old and ageing passenger aircraft into freighter aircraft. During conversion, the aircraft is reinforced with floors that can handle the weight of the freight. In addition, there are changes to aircraft fire detection systems, ventilation, and temperature control. This is because freighter aircraft have different requirements than passenger aircraft and must comply with different standards.
Some of the available passenger-to-freighter (P2F) aircraft programs are B737, B757, A320, and A321. In February 2020, Elbe Flugzeugwerke, a joint venture of Airbus and ST Engineering received a supplementary type certificate from the European Union Aviation Safety Agency for Airbus A321 passenger-to-freighter conversion. In late 2019, ST Engineering received two new orders for the A321 P2F aircraft conversion from BBAM, a US-based aircraft leasing company. Such orders for new conversions across the world are anticipated to bolster the growth of this segment of the market during the forecast period.
Asia-Pacific Accounted for a Major Market Share in 2019
The Asia-Pacific region accounts for more than 30% of air cargo demand. The increasing demand for air cargo is mainly due to the increasing demand for e-commerce. The growing preference for online shopping and the presence of production facilities of electronics, and other commercial goods in countries like China, India, Japan, Cambodia, and Vietnam among others are driving the air cargo market.
In order to cater to the growing demand, several airlines in the region have placed an order for freighter aircraft (passenger to cargo conversions). ANA Cargo, Garuda Indonesia, Mongolian Airways Cargo, SpiceJet, and Qantas are some of the major airlines that have received freighter aircraft in 2019. Further with the growing demand for air cargo, the demand for freighter aircraft in the region is anticipated to grow during the forecast period.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Dedicated Cargo Aircraft
5.1.2 Derivative of Non-Cargo Aircraft
5.2 Engine Type
5.2.1 Turboprop Aircraft
5.2.2 Turbofan Aircraft
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 South Korea
5.3.3.5 Rest of Asia-Pacific
5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 The Boeing Company
6.2.2 Airbus SE
6.2.3 Textron Inc.
6.2.4 Aviation Industry Corporation of China
6.2.5 ATR
6.2.6 KF Aerospace
6.2.7 Singapore Technologies Engineering Ltd
6.2.8 Aeronautical Engineers, Inc.
6.2.9 Precision Aircraft Solution
6.2.10 Israel Aerospace Industries Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ihhkn
