Freighter Aircrafts Market Growth, Trends, Industry Analysis, Key Players Forecast 2022-28

According to Precision Business Insights (PBI), the latest report, the freighter aircrafts market is expected to grow at a 4.4% CAGR from 2022 to 2028. The primary driver of the expansion of the global freighter aircraft market is the rise in new trade relationships amongst different countries and rapid growth in e-commerce events across the globe.

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Derivative of non-cargo aircraft Segment to Dominate the Freighter Aircrafts Market:
Based on aircraft type, the derivative of the non-cargo aircraft segment accounts for a significant market share, and it is expected to register the highest CAGR over the forecast period owing to the increasing preference of airlines to improve their old and aging passenger aircraft with freighter aircraft and also increase in passenger-to-freighter conversions will act as a solution for the air cargo capacity due to the major demand driven by the e-commerce business. These converted passenger planes will carry lighter, more voluminous cargo such as e-commerce packages. With such conversions, aircraft are reinforced with floors that can handle the weight of the freight and also made changes to the aircraft's fire detection, ventilation, and temperature control system these reliable features and continuous development will boost the demand for this aircraft type consequently pushing the market growth of freighter aircraft.

Asia Pacific Freighter Aircrafts Market:
The Asia Pacific market is expected to increase in the freighter aircraft market over the forecast period. It is projected to grow at a significant CAGR in the coming years owing to the increasing demand for air cargo as the rising e-commerce sector in this region. The rising preference for online shopping and the existence of manufacturing services for electronics and other commercial goods in countries like China, India, Japan, Vietnam, and Cambodia, is further propelling the growth of the freighter aircraft market. With continuous advanced developments in freighter aircraft, types in these regions will surely enhance the market demand as well as move to the expansion of the global freighter aircraft market.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global freighter aircrafts market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The freighter aircrafts market is segmented based on aircraft type, engine type, and geography.
Based on the aircraft type, the market is segmented into the following:
• Dedicated Cargo Aircraft
• Derivative of Non-cargo Aircraft

Based on the engine type, the market is segmented into the following:
• Turboprop Aircraft
• Turbofan Aircraft

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the freighter aircrafts market report are Airbus SE, The Boeing Company, Precision Aircraft Solution, Textron Inc., Singapore, Technologies Engineering Ltd, Aviation Industry Corporation of China, ATR, KF Aerospace, Aeronautical Engineers Inc., and Israel Aerospace Industries Ltd.

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