| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 2.00 Billion |
| Market Size (2030) | USD 3.25 Billion |
| CAGR (2025 - 2030) | 10.25 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia Pacific Freighter Aircraft Market Analysis
The Asia-Pacific Freighter Aircraft Market size is estimated at USD 2.00 billion in 2025, and is expected to reach USD 3.25 billion by 2030, at a CAGR of 10.25% during the forecast period (2025-2030).
- The burgeoning demand for air cargo in the Asia-Pacific region drives the need for freighter aircraft as operators prioritize fleet expansion to meet the escalating demand for air freight services. Additionally, robust trade relations between Asia-Pacific countries and global nations have bolstered regional trade, prompting the establishment of new air trade routes. This development has significantly increased the demand for original equipment manufacturer (OEM)-configured and aftermarket-configured freighter aircraft. Furthermore, the rise in passenger-to-freighter conversions is expected to alleviate air cargo capacity constraints, mainly due to the substantial demand surge from the e-commerce sector.
- According to the International Air Transport Association (IATA), China and India represent the fastest-growing aviation markets. IATA forecasts that by 2026, India will surpass the UK and claim the position of the third-largest aviation market. The escalating demand for air cargo transport, coupled with the growing number of airlines in China, India, Japan, and Southeast Asian countries, is propelling market growth.
- Conversely, the market faces potential long-term hindrances due to increasing regulations. Governments worldwide are formulating various rules and policies to streamline freighter operations. While some operators have complied with these policies, others must adhere to them. Failure to comply could impede freighter operations during the forecast period.
Asia Pacific Freighter Aircraft Market Trends
Derivative of Non-Cargo Aircraft Segment Will Showcase Significant Growth During the Forecast Period
- The growth of the derivative of the non-cargo aircraft segment can be attributed to airlines' increasing preference to modify their old and aging passenger aircraft with freighter aircraft. The increase in passenger-to-freighter conversions will act as a solution for the air cargo capacity constraints due to the significant demand driven by the e-commerce business. These converted passenger planes will carry lighter, more voluminous cargo like e-commerce packages. During such conversions, aircraft are reinforced with floors that can handle the weight of the freight.
- The demand for passenger-to-freighter (P2F) conversions comes mainly from China. The Chinese domestic aviation market drives the requirement for narrowbody aircraft. Meanwhile, annual passenger-to-freighter (P2F) conversions reached historic highs, with the volume estimated to peak at 180 per year by 2025 and then settle at around 160 aircraft per year. Growing investments from OEMs and rising expenditures on aircraft modernization programs drive the market growth.
- For instance, in March 2023, Boeing partnered with GMR Aero Technic to establish a new Boeing Converted Freighter (BCF) line in Hyderabad, India. GMR Aero Technic will be able to support future conversions of domestic and foreign aircraft. The company announced that the facility in India will convert B737 passenger planes into dedicated freighters to tap regional and global demand. Such developments will boost market growth in the coming years.
Understand The Key Trends Shaping This Market
Download PDF
China is Anticipated to Show Highest Growth During the Forecast Period
- China held the highest shares in the market and is projected to continue its domination during the forecast period. The growth is due to rising spending on improving aviation infrastructure and growing demand for air cargo transport. China is spearheading the region’s air travel boom. Increasing passenger traffic and expected revival in international traffic have prompted aircraft companies to procure aircraft in their fleet to meet the anticipated growing demand in coming years.
- China Eastern Airlines has an aircraft fleet with about 617 aircraft in service with over 189 aircraft on order. In June 2023, Embraer announced establishing a passenger-to-freighter conversion line in China for its E1-jets, having signed a Letter of Agreement with Lanzhou Aviation Industry Development. The Chinese company wants to convert twenty E190s or E195s into full freighters. Also, in May 2023, Chengdu-based Sichuan Airlines took the delivery of its first Airbus A330-300 passenger-to-freighter (P2F) conversion to expand its cargo fleet to four aircraft.
- Furthermore, Elbe Flugzeugwerke GmbH (EFW) took a significant step forward with its freighter conversion work in Asia in August 2023. The EFW is a joint venture by ST Engineering and Airbus. EFW announced that the first aircraft has arrived for conversion as part of its collaboration on Airbus A321 passenger-to-freighter (P2F) conversions with Chinese MRO solutions provider Sichuan Haite Hi-Tech (Haite). Thus, the growing air cargo fleet and rising aircraft conversion contracts from airlines drive the market growth across the country.
Get Analysis on Important Geographic Markets
Download PDF
Asia Pacific Freighter Aircraft Industry Overview
The Asia Pacific freighter aircraft market is semi-consolidated in nature, with several local and global players holding significant shares. Some of the key players in the market are Airbus SE, ATR, The Boeing Company, Singapore Technologies Engineering Ltd., and Guangzhou Aircraft Maintenance Engineering Company Limited (GAMECO). The Boeing Company, Airbus SE, and ATR provide OEM-built freighter aircraft. With regional airlines converting a part of their fleet to the freighter configuration, new freighter aftermarket players are entering the mainstream market.
For instance, in May 2023, Japan Airlines (JAL) announced that it would pluck three Boeing B767-300ER jets from its passenger fleet and send them to an airframe overhaul facility for conversion into pure freighters capable of carrying large containers on the main deck. These are scheduled to become operational at the end of fiscal 2023.
Asia Pacific Freighter Aircraft Market Leaders
-
Airbus SE
-
ATR
-
The Boeing Company
-
Singapore Technologies Engineering Ltd.
-
Guangzhou Aircraft Maintenance Engineering Company Limited (GAMECO)
- *Disclaimer: Major Players sorted in no particular order
Need More Details on Market Players and Competiters?
Download PDF
Asia Pacific Freighter Aircraft Market News
- April 2023: AerCap Holdings N.V. signed lease agreements for two Boeing B737-800BCF (Boeing Converted Freighters) with the newly launched cargo airline PT Rusky Aero Indonesia. The Indonesian carrier, Raindo United Services, will utilize these new Boeing freighters."
- March 2023: The Boeing Company announced its plans to establish a facility in India dedicated to converting Boeing B737 passenger planes into freighters. This initiative aims to meet the increasing regional and global demand for such services. Boeing will collaborate with GMR Aero Technic to set up the inaugural Boeing freighter conversion line.
Asia Pacific Freighter Aircraft Industry Segmentation
A cargo aircraft or freighter aircraft is a fixed-wing aircraft designed or converted for the carriage of cargo rather than passengers. Such aircraft usually do not incorporate passenger amenities and generally feature one or more large doors for loading cargo. Freighters may be operated by civil passenger or cargo airlines, private individuals, or the armed forces of individual countries.
The Asia-Pacific freighter aircraft market is segmented based on aircraft type, engine type, and geography. By aircraft type, the market is divided into dedicated cargo aircraft and derivative of non-cargo aircraft. By engine type, the market is segmented into turboprop and turbofan. The report also offers the market size and forecasts for five countries across the region. For each segment, the market sizing and forecasts have been done based on value (USD).
| Aircraft Type | Dedicated Cargo Aircraft |
| Derivative of Non-Cargo Aircraft | |
| Engine Type | Turboprop |
| Turbofan | |
| Geography | China |
| India | |
| Japan | |
| South Korea | |
| Singapore | |
| Rest of Asia-Pacific |
Need A Different Region or Segment?
Customize Now
Asia Pacific Freighter Aircraft Market Research FAQs
How big is the Asia-Pacific Freighter Aircraft Market?
The Asia-Pacific Freighter Aircraft Market size is expected to reach USD 2.00 billion in 2025 and grow at a CAGR of 10.25% to reach USD 3.25 billion by 2030.
What is the current Asia-Pacific Freighter Aircraft Market size?
In 2025, the Asia-Pacific Freighter Aircraft Market size is expected to reach USD 2.00 billion.
Who are the key players in Asia-Pacific Freighter Aircraft Market?
Airbus SE, ATR, The Boeing Company, Singapore Technologies Engineering Ltd. and Guangzhou Aircraft Maintenance Engineering Company Limited (GAMECO) are the major companies operating in the Asia-Pacific Freighter Aircraft Market.
What years does this Asia-Pacific Freighter Aircraft Market cover, and what was the market size in 2024?
In 2024, the Asia-Pacific Freighter Aircraft Market size was estimated at USD 1.79 billion. The report covers the Asia-Pacific Freighter Aircraft Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia-Pacific Freighter Aircraft Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Our Best Selling Reports
APAC Freighter Aircraft Industry Report
Statistics for the 2025 Asia-Pacific Freighter Aircraft market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Freighter Aircraft analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
