Dublin, Dec. 23, 2020 (GLOBE NEWSWIRE) -- ResearchAndMarkets.com published a new article on the air freight industry "E-Commerce Demand Drives Growth in Passenger to Freighter Conversions"
Many airlines implemented temporary conversions of passenger planes to allow them to carry more cargo during the pandemic as a result of the declining demand for passenger travel along with the boom in e-commerce as more and more customers turned to shopping online. With the airline industry predicting that passenger travel will not return to 2019 levels until 2024 and demand for air freight expected to remain high, many airlines and leasing companies are now investing in permanently converting older planes to air freighters. The falling market value of older planes has also made freighter conversions an attractive option for many airlines.
The increased demand for passenger to freighter conversions has created huge opportunities for conversion companies like Singapore Technologies Engineering, Israel Aerospace Industries and Aeronautical Engineers Inc. Globally, the number of passenger to freighter conversions is expected to rise by 36% to 90 planes in 2021 and to 109 planes in 2022. The boom in conversions is also helping aviation maintenance, repair and overhaul groups to offset some of the lost business from the decline in passenger travel.
The article on ResearchAndMarkets.com contains a selection of reports on enterprise learning such as:
- Freighter Aircraft Market - Growth, Trends, and Forecasts (2020 - 2025)
- Charter Air Freight - 2020 U.S. Market Research Report with COVID-19 Forecasts
- Air Courier Service Revenues Canada and USA Report & Database
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.