Press release
Passenger to Freighter (P2F) Market to Reach USD 2.33 Billion by 2034, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm, has launched a report on the global market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.
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Market Statistics
• Market size: USD 1.16 billion (2024)
• Forecast value: USD 2.33 billion (2034)
• CAGR: 3.6%
• Forecast period: 2025-2034
• Base year: 2024
• Total number of segments: 4
• Tables & figures: 100+
• Country Level Market Assessment: 20
Market Segmentation
By Aircraft Type
• Narrow Body Aircraft
• Wide Body Aircraft
• Regional Aircraft
By Converter Type
• OEM Converters
• Independent
By Payload Capacity Type
• Standard Body
• Medium Wide Body
• Large Freighters
By Region
• North America
• Europe
• Asia Pacific
• Rest of the World
Segment Analysis
In the aircraft type category, Narrow Body Aircraft are dominant and expected to remain so due to their cost effectiveness, shorter turnaround times, and suitability for regional and short to medium cargo routes. This makes narrow body conversions a strategic focus for operators seeking faster returns on investment and supports decisions by MRO and conversion specialists to scale narrow body conversion capacity.
Under converter type, Independent converters are the dominant segment, driven by their flexibility in working with diverse aircraft models and deep presence in emerging markets. This dominance encourages strategic collaboration opportunities between independent converters and airlines looking for customized, cost efficient cargo conversion solutions.
For payload capacity type, Standard Body freighters remain the largest segment since they align with e commerce and regional cargo demand, which favors aircraft that balance payload capacity with operational efficiency. Suppliers and conversion facilities emphasizing standard body conversions can better capture consistent demand from logistics and regional carriers.
Regional Insights
Europe is the dominant region in the P2F market due to substantial investments in airport and cargo logistics infrastructure that facilitate air freight operations. This long term infrastructure support boosts conversion activity and creates favorable conditions for conversion service providers and OEMs aiming to expand their footprint in European P2F services.
Asia Pacific is the fastest growing region, propelled by the establishment of new P2F conversion centers and expanding air cargo networks that address rising freight demand. This growth trajectory offers opportunities for global converters to form regional partnerships and invest in localized conversion facilities to meet surging market needs.
Market Drivers
• Continued expansion of global e commerce, increasing volume of air cargo and demand for freighter conversions.
• Rising costs and long lead times for new freighter aircraft driving conversion preference.
• Availability of aging passenger aircraft fleets suitable for conversion.
• Expansion of international cargo networks requiring flexible and scalable capacity.
• Strategic investments in cargo infrastructure and aviation logistics hubs.
Competitive Landscape
Top Companies in the Market
• Elbe Flugzeugwerke GmbH
• AerCap Holdings N.V.
• Israel Aerospace Industries Ltd.
• Boeing
• Aeronautical Engineers, Inc.
• Mammoth Freighters
• Precision Aircraft Solutions
• PEMCO World Air Services
FAQs
1. What is the current size of the Passenger to Freighter (P2F) market?
The P2F market was valued at USD 1.16 billion in 2024.
2. How large is the Passenger to Freighter market projected to be by 2034?
It is forecast to reach USD 2.33 billion by 2034, growing at a CAGR of 3.6%.
3. Which aircraft type is most commonly converted in the P2F market?
Narrow Body aircraft dominate due to cost effectiveness and suitability for regional cargo operations.
4. Which region currently leads in P2F conversions?
Europe is the dominant region because of strong airport and cargo logistics infrastructure supporting conversion activities.
5. Why are independent converters significant in the P2F market?
Independent converters dominate because they offer customized and flexible conversion solutions across different aircraft types.
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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