Asia-Pacific Freighter Aircraft Market Size (2024 - 2029)

Asia Pacific Freighter Aircraft Market Analysis

The Asia-Pacific Freighter Aircraft Market size is estimated at USD 1.81 billion in 2024, and is expected to reach USD 2.94 billion by 2029, growing at a CAGR of 10.25% during the forecast period (2024-2029).

• The burgeoning demand for air cargo in the Asia-Pacific region drives the need for freighter aircraft as operators prioritize fleet expansion to meet the escalating demand for air freight services. Additionally, robust trade relations between Asia-Pacific countries and global nations have bolstered regional trade, prompting the establishment of new air trade routes. This development has significantly increased the demand for original equipment manufacturer (OEM)-configured and aftermarket-configured freighter aircraft. Furthermore, the rise in passenger-to-freighter conversions is expected to alleviate air cargo capacity constraints, mainly due to the substantial demand surge from the e-commerce sector.
• According to the International Air Transport Association (IATA), China and India represent the fastest-growing aviation markets. IATA forecasts that by 2026, India will surpass the UK and claim the position of the third-largest aviation market. The escalating demand for air cargo transport, coupled with the growing number of airlines in China, India, Japan, and Southeast Asian countries, is propelling market growth.
• Conversely, the market faces potential long-term hindrances due to increasing regulations. Governments worldwide are formulating various rules and policies to streamline freighter operations. While some operators have complied with these policies, others must adhere to them. Failure to comply could impede freighter operations during the forecast period.

Asia Pacific Freighter Aircraft Industry Segmentation

A cargo aircraft or freighter aircraft is a fixed-wing aircraft designed or converted for the carriage of cargo rather than passengers. Such aircraft usually do not incorporate passenger amenities and generally feature one or more large doors for loading cargo. Freighters may be operated by civil passenger or cargo airlines, private individuals, or the armed forces of individual countries.

The Asia-Pacific freighter aircraft market is segmented based on aircraft type, engine type, and geography. By aircraft type, the market is divided into dedicated cargo aircraft and derivative of non-cargo aircraft. By engine type, the market is segmented into turboprop and turbofan. The report also offers the market size and forecasts for five countries across the region. For each segment, the market sizing and forecasts have been done based on value (USD).