Market Overview:
The global freighter conversions market is estimated to be valued at US$ 2,362.8 Mn in 2018 and is projected to reach US$ 5,711.5 Mn by 2030, registering a CAGR of 10.9% from 2018 to 2030. In terms of volume, the global freighter conversions market is expected to reach 1,584 units by 2030. Based on type, the widebody conversions segment is expected to account for a major share of the global freighter conversions market during the forecast period. This can be attributed to increasing demand for widebody aircraft for freight transport across different regions worldwide.
Product Definition:
Freighter conversions are vessels that have been converted from a standard cargo ship into a vehicle transport. This can be important for businesses that need to move large vehicles, as it can be difficult or impossible to do so using traditional means of transportation. Freighter conversions can also be used for other large items, such as boats or even homes.
Widebody Conversions:
Widebody Conversions is the process of converting a full freighter jet into a very widebody aircraft. The conversion can be done by changing the original design of the jet or by adding new seats and cargo holds to an existing widebody aircraft.
The growth factor in this market is high due to growing demand for air transportation, rise in global trade activities coupled with increasing cross border passenger traffic on account of improved standards of living.
Narrowbody Conversions:
Narrowbody Conversions are used to convert a wide-body aircraft into a narrow-body aircraft. The main objective of this conversion is to increase the traffic capacity of an airport by decreasing the size of the airplane. In other words, reducing the weight and henceforth reducing fuel consumption & emissions.
The global market for narrowbody conversions is expected to witness significant growth over the forecast period owing to several factors such as growing passenger traffic, increasing air freight rates,.
Application Insights:
The military use segment held a significant share of the global freighter conversions market in 2017. Military aircraft are widely used for logistics operations as they can reach areas which are inaccessible by road and have better reliability, safety and serviceability than commercial aircraft. Moreover, military aircraft offer advanced technology such as satellite navigation systems, Wi-Fi hot spots which enable troops to carry out their duties efficiently. These factors are likely to increase the demand for converted freighters over the forecast period.
Civil aviation is expected to witness considerable growth owing to increasing disposable income among developing countries along with growing air travel demand from emerging economies such as India China.
Regional Analysis:
North America dominated the global market in terms of revenue share in 2017. The region is expected to continue its dominance over the forecast period. This can be attributed to increasing military operations across North America, which has led to an increase in demand for transport aircraft from the U.S., and growing trade activities between Asia Pacific countries, thereby driving up demand for freight jets across this region.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to rising disposable income among middle-class population groups and rapid urbanization taking place across emerging economies such as China and India, thus leading towards increased passenger traffic on airlines operating out of these countries. Growing air transportation network within Asia Pacific will also contribute towards future growth opportunities for this regional market during the forecast years due to increasing investments by major players such as Boeing Co., Lockheed Martin Corporation, Airbus SASU PLC among others into new facilities that include maintenance centers or bases with associated runways & hangers etc.
Growth Factors:
- Increasing demand for air cargo services: The growth of the e-commerce sector is fueling the demand for air cargo services. This is driving the need for more freighter aircrafts.
- Proliferation of low-cost carriers: The proliferation of low-cost carriers is resulting in increased competition and a decline in average fares, which is benefiting the freight conversion market.
- Expansion of global trade: The expansion of global trade is leading to an increase in freight traffic, which is boosting demand for freighter aircrafts and conversions thereof.
- Emergence of new markets: Emerging markets such as Asia Pacific offer significant growth potential for the freight conversion market due to their expanding economies and growing middle classes.
Scope Of The Report
Report Attributes
Report Details
Report Title
Freighter Conversions Market Research Report
By Type
Widebody Conversions, Narrowbody Conversions, Regional Jet Conversions
By Application
Civil Use, Military Use
By Companies
ST Engineering, Evergreen Aviation Technologies, IAI Bedek, EFW
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
153
Number of Tables & Figures
108
Customization Available
Yes, the report can be customized as per your need.
Global Freighter Conversions Market Report Segments:
The global Freighter Conversions market is segmented on the basis of:
Types
Widebody Conversions, Narrowbody Conversions, Regional Jet Conversions
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Civil Use, Military Use
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ST Engineering
- Evergreen Aviation Technologies
- IAI Bedek
- EFW
Highlights of The Freighter Conversions Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Widebody Conversions
- Narrowbody Conversions
- Regional Jet Conversions
- By Application:
- Civil Use
- Military Use
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Freighter Conversions Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Freighter conversions are a type of cargo shipping that involve transporting goods by air instead of water. This type of shipping is often used for larger items, such as furniture or automobiles, because it is faster and more efficient than traditional cargo shipping methods.
Some of the major players in the freighter conversions market are ST Engineering, Evergreen Aviation Technologies, IAI Bedek, EFW.
The freighter conversions market is expected to register a CAGR of 10.9%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Freighter Conversions Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Freighter Conversions Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Freighter Conversions Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Freighter Conversions Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Freighter Conversions Market Size & Forecast, 2018-2028
4.5.1 Freighter Conversions Market Size and Y-o-Y Growth
4.5.2 Freighter Conversions Market Absolute $ Opportunity
Chapter 5 Global Freighter Conversions Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Freighter Conversions Market Size Forecast by Type
5.2.1 Widebody Conversions
5.2.2 Narrowbody Conversions
5.2.3 Regional Jet Conversions
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Freighter Conversions Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Freighter Conversions Market Size Forecast by Applications
6.2.1 Civil Use
6.2.2 Military Use
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Freighter Conversions Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Freighter Conversions Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Freighter Conversions Analysis and Forecast
9.1 Introduction
9.2 North America Freighter Conversions Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Freighter Conversions Market Size Forecast by Type
9.6.1 Widebody Conversions
9.6.2 Narrowbody Conversions
9.6.3 Regional Jet Conversions
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Freighter Conversions Market Size Forecast by Applications
9.10.1 Civil Use
9.10.2 Military Use
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Freighter Conversions Analysis and Forecast
10.1 Introduction
10.2 Europe Freighter Conversions Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Freighter Conversions Market Size Forecast by Type
10.6.1 Widebody Conversions
10.6.2 Narrowbody Conversions
10.6.3 Regional Jet Conversions
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Freighter Conversions Market Size Forecast by Applications
10.10.1 Civil Use
10.10.2 Military Use
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Freighter Conversions Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Freighter Conversions Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Freighter Conversions Market Size Forecast by Type
11.6.1 Widebody Conversions
11.6.2 Narrowbody Conversions
11.6.3 Regional Jet Conversions
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Freighter Conversions Market Size Forecast by Applications
11.10.1 Civil Use
11.10.2 Military Use
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Freighter Conversions Analysis and Forecast
12.1 Introduction
12.2 Latin America Freighter Conversions Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Freighter Conversions Market Size Forecast by Type
12.6.1 Widebody Conversions
12.6.2 Narrowbody Conversions
12.6.3 Regional Jet Conversions
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Freighter Conversions Market Size Forecast by Applications
12.10.1 Civil Use
12.10.2 Military Use
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Freighter Conversions Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Freighter Conversions Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Freighter Conversions Market Size Forecast by Type
13.6.1 Widebody Conversions
13.6.2 Narrowbody Conversions
13.6.3 Regional Jet Conversions
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Freighter Conversions Market Size Forecast by Applications
13.10.1 Civil Use
13.10.2 Military Use
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Freighter Conversions Market: Competitive Dashboard
14.2 Global Freighter Conversions Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ST Engineering
14.3.2 Evergreen Aviation Technologies
14.3.3 IAI Bedek
14.3.4 EFW
