Boeing sees air freight traffic tripling by 2027.Byline: Kuala Lumpur Kuala Lumpur (kwä`lə l  m`pr), city (1990 est. pop.
(Image: cargo.gif ) The global air cargo air cargo: see aviation. growth will expand at a 5.8 per cent annual rate over the next two decades, with air freight air freight n → flete m por avión air freight n → fret aérien air freight air n → Luftfracht f traffic tripling through 2027, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Boeing's World Air Cargo Forecast 2008/2009. Boeing released the biennial forecast, which is widely cited by airlines and industry groups, at the International Air Cargo Forum and Exhibition 2008 in Kuala Lumpur. Air cargo traffic will grow over the long term despite current near-term market weakness and worldwide economic uncertainty, the company said. The industry has shown strong recoveries from previous economic downturns such as the Asian economic crisis, the 9/11 attacks and the Sars outbreak. 'Our research tells us that long-term economic growth, freighter fleet renewal and moderating jet fuel prices will stimulate air cargo traffic growth,' said Randy Tinseth, vice president, marketing, Boeing Commercial Airplanes Boeing Commercial Airplanes is a unit of The Boeing Company, based in Renton, Washington consisting of the Seattle-based former Boeing Airplane Company (the civil airliner division), as well as the Long Beach-based Douglas Aircraft division of the former McDonnell Douglas . Tinseth pointed out that these positive prospects would prevail despite the industry's concerns about current economic challenges. 'World GDP GDP (guanosine diphosphate): see guanine. is projected to average just higher than 3 per cent during the next 20 years,' 'Asian production fundamentals - including abundant raw materials and low-cost labor - remain solid, and China will remain a source of strong economic growth with substantial industrialization industrialization Process of converting to a socioeconomic order in which industry is dominant. The changes that took place in Britain during the Industrial Revolution of the late 18th and 19th century led the way for the early industrializing nations of western Europe and and related investment.' According to the Boeing report, cargo tends to be at the forefront of increased liberalisation n. 1. Same as liberalization. Noun 1. liberalisation - the act of making less strict liberalization, relaxation alleviation, easement, easing, relief - the act of reducing something unpleasant (as pain or annoyance); "he asked the nurse of air services, which is a driver of economic growth. Asian air cargo market growth will continue to lead all global traffic routes. Domestic Chinese and intra-Asian markets will grow 9.9 per cent and 8.1 per cent per year, respectively. Asia-related markets will experience growth in excess of the global average. 'We have seen market contraction during the middle of this year for the first time since late 2003; however, history tells us that the air cargo market returns robustly when the economy strengthens,' said Jim Edgar, regional director, marketing, Boeing Commercial Airplanes, and a contributor to the forecast. 'Air cargo remains crucial to globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation ,' Edgar added. Boeing predicts the world freighter fleet will increase to 3,890 airplanes from 1,950 during the 20-year period. Large freighters such as the Boeing 747 and 777 ultimately will represent 35 percent of the fleet, compared to 26 percent today, while providing 74 percent of total capacity. This segment will require 640 new factory-built airplanes. More than 75 per cent of the 3,360 freighters joining the fleet - 2,500 airplanes - will come from passenger-to-freighter modifications, while 860 will be new production freighters. Edgar pointed out that Boeing provides the most complete and efficient freighter product line, including new production freighters and passenger-to-freighter conversions, teaming with industry leaders to provide innovative conversion solutions to match virtually any air cargo requirement.- TradeArabia News Service Copyright 2008 www.tradearabia.com Copyright 2008 Al Hilal Publishing & Marketing Group Provided by Syndigate.info an Albawaba.com company |
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