Boeing sees cargo growth

ATLANTA -- Boeing said the global air cargo market will expand at a 5.2 percent annual rate over the next 20 years. That's according to the Boeing World Air Cargo Forecast 2012/2013, which says growth will be driven by world gross domestic product that will nearly double over the forecast period. Boeing released the biennial forecast at the International Air Cargo Forum and Exhibition 2012 in Atlanta. Boeing forecasts the world freighter fleet will increase to 3,198 airplanes from 1,738 by 2031. Large freighters will represent 36 percent of the fleet, compared to 31 percent today. Markets connecting Asia-Pacific will lead the industry in growth. (Source: PRNewswire, 10/02/12) Gulf Coast note: Boeing competitor Airbus plans to assemble A320 aircraft in Mobile, Ala.