Freighter Aircraft Market - By Aircraft Type, By Freighter Type, By Payload, By End Use, Growth Forecast, 2025 - 2034

Freighter Aircraft Market Size

The global freighter aircraft market valued at USD 6.2 billion in 2024 with a volume of 58 units and is projected to reach USD 7.9 billion by 2030 and USD 9.5 billion with a volume of 83 units by 2034 growing at a value CAGR of 4.5% and a volume CAGR of 3.7% during the forecast period 2025–2034, as per the latest report published by global market insights, Inc.

• Growth of the freighter aircraft market is attributed to the expansion of international trade and globalization, fleet modernization and replacement of aging freighter aircraft, growth in global e-commerce and express parcel deliveries, and rising demand for pharmaceutical and perishable goods transportation.
   
• The expansion of international trade and globalization has a major impact on the freighter aircraft market. Growing cross-border trade require reliable and efficient air cargo transportation to support global supply chains. According to the World Trade Organisation, the volume of international merchandise trade grew by 2.6% in 2024 and is expected to increase by 3.3% in 2025. This expansion encourages investments in freighter aircraft capacity and modernization to meet the increasing demands for cargo transportation.
   
• The need for increased fuel efficiency, reduced operating costs, and adherence to more stringent environmental regulations are the major factors driving the market for fleet modernization and the replacement of outdated freighter aircraft. Boeing estimated that the number of freighter aircraft worldwide will rise by 67%, from 2,375 in 2024 to 3,975 in 2044, with 45% of new deliveries going towards replacing older aircraft with more modern, efficient models. To improve operational reliability and lower emissions, airlines and cargo operators are actively retiring older models and investing in newer, more technologically advanced aircraft.
   
• The increase in international e-commerce and express parcel delivery is a primary growth driver for the freighter aircraft market. The rapid increase in online purchases has generated massive demand for efficient air cargo facilities to support time-sensitive delivery requirements. Global B2C e-commerce sales will rise to USD 5.5 trillion by 2027, according to the International Trade Administration (ITA). To accommodate this growth, additional air freight capacity will be needed, resulting in enhanced investments in freighter aircraft to enable timely and high-volume parcel delivery across the world.
   
• North America held the largest share of 40.4% in 2024 due to its well-established air cargo networks, robust e-commerce growth, and sophisticated logistics infrastructure. According to the International Air Transport Association (IATA), Stronger consumer demand and cross-border trade activity drove a 6.6% year-over-year increase in air cargo demand for North American carriers in 2024.
   

Freighter Aircraft Market Trends

• Conversions from passengers to freighters (P2F) are becoming a more affordable option for increasing capacity. Conversion companies like EFW and ST Engineering are expanding their A321 and A330 conversion programs with OEM support from Airbus and Boeing. Over the next 20 years, the global market will need 2,430 more freighters, 1,500 of which are anticipated to be P2F conversions, according to Boeing. This shift, gained momentum in 2019, is anticipated to peak by 2028 as carriers focus on maximizing asset utilization while mitigating the large outlays associated with new-build aircraft.
   
• The expansion of e-commerce networks is contributing to the continuous demand for capacity on dedicated freighter aircraft. For instance, DHL and Amazon Air have significantly expanded their dedicated air networks in response to customer demands for faster delivery. Since e-commerce is expected to continue to grow rapidly in Tier 2 and Tier 3 cities, more last-mile and regional air freight operations will be required. This trend is expected to pick up speed around 2020 and peak between 2027 and 2029, particularly in North America and Asia-Pacific.
   
• Investments in freighter operations and cargo infrastructure are increasing in emerging markets. Nations like Brazil, Vietnam, and India are making investments in freighter leasing, logistics hubs, and air cargo corridors. This trend is started in 2022 and continue to grow significantly until 2030 as domestic logistics demand and cross-border trade drive the need for efficient and scalable air freight solutions in underserved regions.
   

Freighter Aircraft Market Analysis

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On the basis of freighter type, the market is divided into OEM configured and passenger-to-freighter conversions (P2F).
 

• The passenger-to-freighter conversions (P2F) segment dominated the market with a 56.6% share in 2024 because of lower acquisition costs, availability of retired passenger aircraft, shorter lead times, and increasing demand for flexible cargo capacity. Airlines and leasing companies are opting for conversions to optimize asset utilization amid growing e-commerce and regional trade routes.
   
• Companies should strengthen P2F conversion capabilities, establish strategic OEM and MRO partnerships, and secure aging passenger aircraft to ensure timely capacity expansion, cost efficiency, and competitiveness in high-demand, fast-growing regional cargo markets.
   
• OEM configured segment is expected to grow at a CAGR of 3.3% between 2025 and 2034 because of rising demand for factory-built freighters with advanced payload capacity, fuel efficiency, and integrated digital systems. Airlines are prioritizing reliability, longer service life, and reduced conversion downtime, making new OEM freighters attractive. Regulatory pressures on emissions and increasing global trade volumes further reinforce the shift toward purpose-built freighter procurement.
   
• To meet operator demands and capitalize on the rising demand for factory-delivered freighter aircraft, companies should enhance OEM-MRO partnerships, invest in R&D for fuel-efficient OEM freighters, and provide customizable payload configurations.

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Based on the end use, the freighter aircraft market is categorized into commercial and military.
 

• The commercial segment dominated the market with an 88.1% share in 2024 due to higher volumes of international trade, rising e-commerce growth, and carrier-driven P2F conversions. To satisfy time-sensitive cargo demand, airlines are optimizing operational efficiency with existing fleets. In addition, the cargo divisions of major airlines leveraged supply chain changes and accelerated rapid logistical demand post-pandemic.
   
• Businesses must increase investments in specialized cargo aircraft, e-commerce partnerships, and cutting-edge digital logistics systems to take advantage of growing demand and maximize fleet utilization. It is also necessary to convert passengers to freighters.
   
• Military segment is anticipated to grow to USD 837.8 million by 2034 due to the modernization of logistics and tactical airlift capabilities, increasing military budgets, and rising demand for strategic military cargo transport. Changes in military operations and geopolitical tensions continue to drive the need for advanced freighter aircraft, leading to higher spending on global procurement and upgrade programs.
   
• To capitalize on expanding procurement and modernization efforts, companies should make investments in manufacturing customized military freighter versions and fortifying their alliances with defense agencies.
   

On the basis of aircraft type, the freighter aircraft market is bifurcated into narrow-body freighters, wide-body freighters, and regional aircraft.
 

• The wide-body freighters segment held a 61% market share in 2024, owing to their increased cargo capacity, which enables efficient long-haul and intercontinental transportation. They are preferred for high-volume shipments, such as e-commerce, pharmaceuticals, and perishables. Their dominance of the market is sustained by their capacity to function effectively on crucial global trade routes and the growing demand for specialized cargo handling abilities.
   
• Companies need to focus on building fuel-efficient wide-body freighters and new cargo technologies. Greater payload and operating reliability will strengthen market position in long-haul international routes where demand for high-volume freight transport remains robust.
   
• Narrow-body freighters segment is expected to grow at a CAGR of 5.7% during the forecast period 2025 – 2034 due to increasing regional air cargo demand. Cities need last-mile delivery via smaller, more adaptable planes due to e-commerce growth. Narrow-body freighters become appealing with lower operating expenses and capability to cover short- to medium-range routes.
   
• OEMs and P2F converters should develop flexible, affordable narrow-body freighters that are tailored to regional and short-haul markets. Emphasis on quick turnaround, flexibility, and lower operating costs will seize increasing e-commerce-driven demand in secondary and emerging cities effectively.

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North America freighter aircraft market held 40.4% share in 2024, because of its advanced air cargo infrastructure, large number of leading logistics companies, and high level of e-commerce penetration. Strong manufacturing and just-in-time supply chains are additional factors driving the consistent demand for freighter aircraft.
 

• U.S. market was valued at USD 2.24 billion in 2024 due to the rapid expansion of e-commerce networks, robust manufacturing activity, and the need for efficient supply chains. According to IATA, a 6.6% year-on-year rise in air cargo demand underscores the vital role of air freight logistics in enabling timely deliveries, reducing inventory risks, and supporting just-in-time manufacturing operations nationwide.
   
• Companies should increase investment in fuel-efficient freighter aircraft and expand fleets to meet rising cargo demand. Forming strategic partnerships with e-commerce and logistics companies will enhance service capabilities and strengthen market position in the competitive U.S. market.
   
• Canada freighter aircraft market is anticipated to grow at a 2.2% CAGR during the forecast period. Expansion of cross-border trade with the United States, increasing e-commerce activities, and the development of infrastructure at major cargo hubs are supporting growth. As reported by Statistics Canada, e-commerce retail sales increased during 2024, resulting in greater demand for air freight services in both domestic and international routes.
   
• To improve the effectiveness in operations and service coverage for Canadian cargo corridors, and to meet the growing demand for cross-border operations and e-commerce activities, companies need to improve regional freighter capacity, develop low-cost aircraft alternatives, and partner with strategic logistics service providers.
   

Europe accounted for 19.6% of the freighter aircraft market in 2024 driven by growing air cargo infrastructures, rapid fleet modernization plans, and expanding e-commerce networks. Strong international trade flows supported market growth as well as increased demand for fast delivery of time-sensitive goods in important economies like Germany, France, and the UK.
 

• Germany market is predicted to grow at a CAGR of 4.2% between 2025 and 2034 due to its strategic position as a European logistics hub, high-volume industrial exports, and advanced air cargo infrastructure. According to the Association of German Air Cargo Handlers (Vacad), total handled volume rose by 5.2% in 2024, reflecting strong trade flows and sustained demand for efficient international cargo transport.
   
• To capitalize on the growing demand for industrial freight and international trade across Europe's integrated supply chain network, companies should expand their presence in Germany by increasing the capacity of wide-body freighters, leveraging key logistics hubs like Frankfurt, and working with exporters.
   
• The UK freighter aircraft market is estimated to grow at a 4.5% CAGR during the period 2025–2034 driven by robust air cargo connectivity, high-value goods exports, and robust e-commerce growth. The UK Civil Aviation Authority reports that the total amount of freight handled at UK airports rose by 10% in 2024, underscoring the ongoing need for prompt and effective cargo transport solutions.
   
• Businesses should expand freighter operations in the UK, invest in fuel-efficient aircraft, and collaborate with e-commerce and export-focused companies in order to meet increasing demand while strengthening service networks along significant transatlantic and European trade routes.
   

The Asia-Pacific region is the fastest growing in the freighter aircraft market with a CAGR of 6% during the forecast period fueled by rapid e-commerce growth, rising export activities, and increasing demand for air cargo. Investment in logistics infrastructure, fleet growth by regional carriers, and growth of manufacturing hubs in China and India further drive the growth of the market.
 

• The China market is estimated to reach USD 1.8 billion by 2034 driven by surging e-commerce volumes, robust manufacturing exports, and expanding logistics infrastructure. China handled 8.98 million tons of cargo and mail in 2024, up by 22.1% year-on-year, recording the nation's increasing reliance on air freight for trade with foreign countries and domestically.
   
• Aircraft manufacturers should increase production of fuel-efficient freighter models, design planes tailored to address China's cargo market requirement, and collaborate with Chinese logistics companies to deal with burgeoning domestic and export-led demand and gain long-term market foothold in the rapidly expanding air freight market.
   
• Japan freighter aircraft market was valued at USD 320.3 million in 2024 due to robust exports of automobiles and electronics, rising e-commerce, and sophisticated logistics infrastructure. Japan's airports handled about 4.46 million tons of air cargo in 2023, according to the Japan Aircargo Forwarders Association (JAFA), indicating the country's continued reliance on air freight for high-value, timely goods.
   
• Aircraft manufacturers must focus on developing fuel-efficient freighters suitable for Japan's value-intensive cargo mix and collaborate with logistics companies to facilitate rising export and e-commerce-driven demand and enhance connectivity along key Asia-Pacific and global trade routes.
   
• The South Korea freighter aircraft market is anticipated to grow at a CAGR of 4.6% during the forecast period due to strong semiconductor and electronics exports, rising e-commerce penetration, and becoming a Northeast Asia logistics hub. According to South Korea's Ministry of Land, Infrastructure and Transport, the air freight volume in 2024 was 4.39 million tons, up 11% from last year, showing a rise in demand for air cargo services.
   
• Aircraft manufacturers should develop fuel-efficient freighters to align with South Korea's export profile. In order to boost air freight traffic and enhance connectivity on regional and international trade routes, they should also collaborate with logistics companies.
   

Latin America freighter aircraft market held 4.1% share in 2024 driven by e-commerce growth, cargo infrastructure expansion, and increasing international trade. Regional airlines focus on smaller freighters, with Brazil and Mexico driving demand.
 

Middle East and Africa projected to grow at a CAGR of 3.9% during the forecast period owing to expanding trade routes, growing e-commerce, and investments in logistics hubs like Dubai and Johannesburg.
 

• Saudi Arabia freighter aircraft industry projected to grow at a CAGR of 3% during the forecast period due to the expansion of its logistics infrastructure, the growth of regional trade, and the diversification of its economy. The nation's advantageous position as a logistics hub in the Middle East contributes to the growing demand for air cargo transportation throughout Asia, Europe, and Africa.
   
• To meet Saudi Arabia's increasing needs for trade facilitation and air cargo, aircraft manufacturers should focus on introducing flexible and fuel-efficient freighter models, collaborating with regional logistics companies, and developing customized solutions.
   
• South Africa freighter aircraft market is anticipated to grow at a CAGR of 2% during the forecast period. The primary drivers of growth are improvements in air cargo infrastructure, growing e-commerce adoption, and increased intra-African trade. As a major logistics hub for southern Africa, the country supports the growing demand for efficient air freight services throughout the region.
   
• UAE market is projected to grow to USD 107.9 million by 2034 due to its strategic investments in cargo infrastructure, expanding e-commerce, and status as a major global logistics hub. The nation's cutting-edge airport infrastructure and connectivity meet the growing demand for air freight services throughout Asia, Africa, and the Middle East.
   
• Aircraft manufacturers should focus on producing fuel-efficient freighters and partnering with UAE-based logistics companies to capitalize on growing cargo volumes and strengthen presence in this key transit market.
   

Freighter Aircraft Market Share

• The top 5 players in the market are Boeing, Airbus, ST Engineering, Elbe Flugzeugwerke, and HAECO collectively held 81.1% of the global market in 2024.
   
• Boeing held a market share of 46.4% in 2024. It boasts a diversified portfolio encompassing new-build freighters and a robust passenger-to-freighter (P2F) conversion program. Boeing's investments in new technologies and fuel-efficient airplanes satisfy the growing need for air freight globally. Solid OEM partnerships and extensive global service networks supplement Boeing's dominance of the global commercial and military air cargo business.
   
• Airbus held 23.4% market share in 2024, driven by its modern wide-body freighter models and aggressive passenger-to-freighter conversion programs. The company appeals to environmentally conscious operators by highlighting sustainability through enhanced fuel efficiency and aerodynamics. Because of its wide range of customers and robust presence on long-haul cargo routes, Airbus continues to grow in the global air freight transportation market.
   
• ST Engineering held a 7.1% market share in 2024, because of its expertise in freighter conversions and comprehensive maintenance services. Company's flexibility and ability to convert a wide range of aircraft types, especially in emerging markets, enable it to respond quickly to market demand. Its engineering and customization capabilities enable airlines and logistics companies looking for reliable, cost-effective cargo solutions. Because of its expanding global presence, ST Engineering is more competitive.
   
• Elbe Flugzeugwerke, a company that specialized in passenger-to-freighter conversion, held a 3.2% market share in 2024. The company's engineering expertise ensures efficient, high-quality conversion in fewer turnaround days. Elbe is able to provide customized solutions that adapt to changing market demands due to strategic collaborations with major OEMs and airlines.
   
• HAECO Group holds a 1% share in the freighter aircraft market, capitalizing on its freighter maintenance capabilities and extensive range of aftermarket services. Growing demand for air cargo within emerging markets is supported by the growing presence of the company in the Asia-Pacific region. In the intensely competitive cargo market, operators maximize aircraft lifecycle and operation efficiency through HAECO's customer-focused solutions, including technical support and aircraft modification.
   

Freighter Aircraft Market Companies

Major players operating in the freighter aircraft industry are:
 

• Boeing
• Airbus
• ST Engineering
• Elbe Flugzeugwerke GmbH
• HAECO Group
• Israel Aerospace Industries
• Leonardo S.p.A.
• Lockheed Martin Corporation
• Commercial Aircraft Corporation of China
   
• Boeing, Airbus, ST Engineering, Elbe Flugzeugwerke GmbH, and HAECO Group are recognized as market leaders. They dominate because of extensive freighter aircraft fleets, legitimate passenger-to-freighter (P2F) conversion programs, and global service networks. Their full engagement with commercial, military, and regional cargo business ensures robust order pipelines and insulation from market fluctuations.
   
• Embraer, Lockheed Martin Corporation, Leonardo S.p.A., Commercial Aircraft Corporation of China (COMAC), and ATR Aircraft act as challengers. Such companies employ various aircraft manufacturing capabilities and expanding conversion services. Having expertise in niche market specialties, retrofit solutions, and regional market growth, they expand their market base gradually in accordance with shifting air cargo demands.
   
• Aeronautical Engineers, Pemco, Precision Aircraft Solutions, Textron Aviation, and Israel Aerospace Industries are classified as followers. They focus on specialized freighter modifications, component manufacturing, and targeted service offerings. They are able to capitalize on the demand for mid-sized and regional freighters in both commercial and defense applications through strategic partnerships and module conversion designs.
   
• Niche competitors include Leonardo, GE Capital Aviation Services, Tupolev, Ilyushin Aviation Complex, and De Havilland Canada. They specialize in specific aircraft models, financing options, and tailored freighter offerings. Their specialties include innovative retrofitting techniques, cost-effective fleet alternatives, and collaboration with local logistics and maintenance companies.
   

Freighter Aircraft Industry News

• In June 2025, Vietjet, Vietnam's biggest private airline, has signed a Memorandum of Understanding (MoU) with Airbus to purchase 100 A321neo single-aisle aircraft. The new aircraft are intended to support Vietjet's continued growth by adding capacity on key Asia-Pacific routes.
   
• In May 2025, Aerospace manufacturer Natilus partnered with Kuehne+Nagel to investigate integrating the company’s blended-wing-body (BWB) aircraft into commercial air freight operations.
   
• In April 2025, Elbe Flugzeugwerke (EFW), signed a multi-aircraft conversion agreement with Confity Capital Partners for the Airbus A330 Passenger-to-Freighter (P2F) program.
   

The freighter aircraft market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Million) volume (units) from 2021 to 2034, for the following segments:

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Market, By Aircraft Type

• Narrow-body freighters
• Wide-body freighters
• Regional aircraft

Market, By Freighter Type

• OEM configured
• Passenger-to-Freighter Conversions (P2F)

Market, By Payload

• Light freighters (20 tons)
• Medium freighters (20–60 tons)
• Heavy freighters (>60 tons)

Market, By End Use

• Commercial
  • Integrated express carriers
  • Scheduled cargo airlines
  • Charter & ACMI operators
  • Combination carriers 
• Military

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina 
• MEA
  • South Africa
  • Saudi Arabia
  • UAE