The freighter fleet forecast calls for 3,010 airplanes in service by 2035, an increase of 70 percent over the in-service 2015 fleet of 1,770.

During that time, Boeing forecast 1,130 retirements of older and less efficient types, which will create demand for replacement by new conversions and production airplanes.

In addition, Boeing forecast that 1,240 airplanes will be required for growth. Doubts about the future growth of air cargo have been expressed in the press, but we believe that this negativity is driven by short-term concerns and trends. Longer-term, we expect an increasingly connected world in which goods and people will move more freely than they do today. Passenger lower-hold capacity is an imperfect substitute for the critical advantages of freighter services and the need for dedicated freighters will continue.

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