Middle East And Africa Freighter Aircraft Market Size

Middle East And Africa Freighter Aircraft Market Analysis

The Middle East And Africa Freighter Aircraft Market size is estimated at USD 486.90 million in 2024, and is expected to reach USD 639.03 million by 2029, growing at a CAGR of 5.59% during the forecast period (2024-2029).

• The increase in demand for air cargo has driven the global demand for freighter aircraft. This growth is fueled by increased trade relationships among countries worldwide. Key factors driving the freighter aircraft market's expansion include the geographic positioning of the Middle East and Africa, which serves as a connectivity hub between Asia, Europe, and Africa. Additionally, government support in terms of infrastructure contributes to the region's air cargo growth.
• For carriers in the Middle East and Africa, revenue from cargo serves as a vital measure of overall performance. Consequently, they are expanding their routes and adding new freighter aircraft to cater to the escalating global air freight demand, aiming to generate higher profits. According to the 2021 Airbus Global Market Forecast (GMF), airlines in the Middle East were projected to demand 3,020 new passenger and freight aircraft deliveries by 2040.
• In August 2023, the Boeing Company and the engineering unit of Dubai Aerospace Enterprise (DAE) agreed to establish a new freighter conversion line in Jordan. This initiative aims to bring services closer to customers in the Middle East, Commonwealth of Independent States (CIS), and North Africa, capturing a rapidly growing market sphere. However, evolving emission and safety regulations are expected to restrict market growth