According to Airbus’ new Cargo Global Market Forecast, world-wide air freight traffic will grow by an average of 4.8% annually over the next 20 years, almost doubling the required global freighter fleet to nearly 3,000 aircraft. This projected growth is driven by numerous positive global trends in economic activity, including world trade, private consumption, and industrial production. The forecast shows that the overall worldwide air cargo demand by the year 2032 will require around 2,700 new and converted aircraft. Over half of these will be needed for fleet replacement – driven by current old aircraft retirements – with the remainder being for growth. Of these 2,700 aircraft, 870 will be factory-built freighters worth approximately US$234bn, while around 1,860 will be converted from passenger aircraft. A further 175 in 2032 will be aircraft which are already in service as freighters today. Belly freight usage in passenger aircraft is taken into account – which will remain largely unchanged at around half of commercial air freight on international traffic.