Aviation: African Airfreight sector projected to grow by 6.1% in next 20yrs, unlocking $80 billion worth of opportunities

airfreight

New data by aircraft manufacturing giant, Boeing’s Commercial Market Outlook (CMO), has projected the African airfreight sector annual compound growth at 6.1% over the next 20 years and unlocking $80 billion worth of opportunities in the supply chain industry.

According to freightnews.co.za, a statement released by the American aircraft multinational says that Europe remains the most prominent origin/destination for African carriers.

Overall air traffic growth of 5.2% for the continent is also the third highest of all global regions.

By 2040 Boeing expects to have fulfilled demand for 1 010 new airplanes valued at $176bn.
“African aviation traffic has recovered at a strong pace in 2022, with pent-up demand and economic growth driven by higher global commodity prices allowing African airlines to recover their flight operations to 80% of pre-pandemic levels,” Boeing said.

“Africa’s above-world-average annual economic growth of 3.1%, combined with increasing rates of urbanisation and a growing middle-class population, will continue to be the drivers for Africa’s long-term traffic demand.

READ: Africa: Kenya-based Astral Aviation to be the first operator of the Embraer E190 cargo version

“Initiatives such as the African Continental Free Trade Area and Single African Air Transport Market are expected to further stimulate trade and intra-regional connectivity.”

Boeing’s managing director of commercial marketing for the Africa and Middle East region, Randy Heisey, said: “African carriers are well-positioned to support inter-regional traffic growth and capture market share by offering services that efficiently connect passengers and enable commerce within the continent.

“We forecast an increase in the average aircraft size and seats per aircraft for the African fleet, as mid-size, single aisles, like the Boeing 737 Max, will be the most in demand for the continent.”

Boeing’s CMO furthermore projects that Africa’s fleets will grow by 3.5% annually to keep pace with air passenger demand of 5.2%, tracking well above the expected global average of 3.8%.

The CMO also highlights that:
. Airlines in Africa will grow their fleets by 3.5% per year to accommodate passenger traffic growth of 5.2% annually, above the global average growth of 3.8%.

. Single-aisle jets are expected to account for more than 70% of commercial deliveries, with 740 new planes mainly supporting domestic and inter-regional demand. In addition, African carriers are estimated to need 250 new wide-bodies, including passenger and cargo models, to support long-haul routes and airfreight growth.

. Estimated demand for aviation personnel will rise to 67 000 new professionals, including 20 000 pilots, 21 000 technicians and 26 000 cabin crew members.

 

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