Middle East And Africa Freighter Aircraft Market Size (2024 - 2029)

The Middle East and Africa freighter aircraft market is experiencing growth driven by the increasing demand for air cargo and enhanced trade relationships globally. The region's strategic geographic position as a connectivity hub between Asia, Europe, and Africa, along with government support for infrastructure, bolsters this expansion. Carriers are responding to the rising global air freight demand by expanding routes and adding new freighter aircraft to improve profitability. However, the market's growth is anticipated to face challenges due to evolving emission and safety regulations.

Market Size of Middle East And Africa Freighter Aircraft Industry

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Middle East And Africa Freighter Aircraft Market Summary
Study Period 2019-2029
Base Year For Estimation 2023
Market Size (2024) USD 486.90 Million
Market Size (2029) USD 639.03 Million
CAGR (2024 - 2029) 5.59 %
Market Concentration Medium

Major Players

Middle East And Africa Freighter Aircraft Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Middle East And Africa Freighter Aircraft Market Analysis

The Middle East And Africa Freighter Aircraft Market size is estimated at USD 486.90 million in 2024, and is expected to reach USD 639.03 million by 2029, growing at a CAGR of 5.59% during the forecast period (2024-2029).

  • The increase in demand for air cargo has driven the global demand for freighter aircraft. This growth is fueled by increased trade relationships among countries worldwide. Key factors driving the freighter aircraft market's expansion include the geographic positioning of the Middle East and Africa, which serves as a connectivity hub between Asia, Europe, and Africa. Additionally, government support in terms of infrastructure contributes to the region's air cargo growth.
  • For carriers in the Middle East and Africa, revenue from cargo serves as a vital measure of overall performance. Consequently, they are expanding their routes and adding new freighter aircraft to cater to the escalating global air freight demand, aiming to generate higher profits. According to the 2021 Airbus Global Market Forecast (GMF), airlines in the Middle East were projected to demand 3,020 new passenger and freight aircraft deliveries by 2040.
  • In August 2023, the Boeing Company and the engineering unit of Dubai Aerospace Enterprise (DAE) agreed to establish a new freighter conversion line in Jordan. This initiative aims to bring services closer to customers in the Middle East, Commonwealth of Independent States (CIS), and North Africa, capturing a rapidly growing market sphere. However, evolving emission and safety regulations are expected to restrict market growth

Middle East And Africa Freighter Aircraft Industry Segmentation

A cargo aircraft or a freighter aircraft is a fixed-wing aircraft that is 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, by private individuals, or by the armed forces of individual countries. The scope of the report provides a detailed analysis of the Middle East and African countries.

The Middle East and Africa freighter aircraft market is segmented based on aircraft type, engine type, and country. By aircraft type, the market is segmented into dedicated cargo aircraft and derivative of non-cargo aircraft. By engine type, the market is classified into turboprop and turbofan. The report also offers the market size and forecasts for three countries across the region. 

For each segment, the market sizing and forecasts have been done based on value (USD).

Aircraft Type
Dedicated Cargo Aircraft
Derivative of Non-Cargo Aircraft
Engine Type
Turboprop Aircraft
Turbofan Aircraft
Country
United Arab Emirates
Saudi Arabia
Turkey
Rest of the Middle East and Africa
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Middle East And Africa Freighter Aircraft Market Size Summary

The Middle East and Africa freighter aircraft market is poised for significant growth, driven by the increasing demand for air cargo and the region's strategic geographic position as a connectivity hub between Asia, Europe, and Africa. This demand is further bolstered by enhanced trade relationships and government support in infrastructure development. Airlines in the region are expanding their routes and adding new freighter aircraft to meet the rising global air freight demand, with cargo revenue being a crucial performance metric. The market is characterized by a semi-consolidated structure, with major players like Boeing, Airbus, and others investing heavily in research and development to advance freighter aircraft technology and capacity. Initiatives such as the establishment of new freighter conversion lines and the introduction of innovative aircraft models are expected to drive market expansion.

The turbofan aircraft segment currently dominates the market, supported by increased investment in dedicated freighter aircraft and the conversion of passenger aircraft into freighters. Notable developments include Qatar Airways' significant procurement of Boeing freighter aircraft and Emirates SkyCargo's expansion plans, which include adding new Boeing freighters and converting existing passenger aircraft. The United Arab Emirates is anticipated to lead the market due to its robust trade activities and strategic initiatives like the new passenger-to-freighter conversion facility in Abu Dhabi. These efforts, along with partnerships and contracts between original equipment manufacturers and local players, are set to propel the market forward, despite challenges posed by evolving emission and safety regulations.

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Middle East And Africa Freighter Aircraft Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Aircraft Type

      1. 2.1.1 Dedicated Cargo Aircraft

      2. 2.1.2 Derivative of Non-Cargo Aircraft

    2. 2.2 Engine Type

      1. 2.2.1 Turboprop Aircraft

      2. 2.2.2 Turbofan Aircraft

    3. 2.3 Country

      1. 2.3.1 United Arab Emirates

      2. 2.3.2 Saudi Arabia

      3. 2.3.3 Turkey

      4. 2.3.4 Rest of the Middle East and Africa

Middle East And Africa Freighter Aircraft Market Size FAQs

The Middle East And Africa Freighter Aircraft Market size is expected to reach USD 486.90 million in 2024 and grow at a CAGR of 5.59% to reach USD 639.03 million by 2029.

In 2024, the Middle East And Africa Freighter Aircraft Market size is expected to reach USD 486.90 million.

Middle East And Africa Freighter Aircraft Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)