The P2F conversion market is at a crossroads. Accelerated by the Covid-19 pandemic, there is an increased demand for freighter conversions while experts are cautious due to a potential oversupply. The industry is looking forward to seeing how this will turn out as the passenger belly capacity is coming back and the increased e-commerce movements is forecasted to push the demand up.
The recent ‘Freighter Conversions Market 2022’ report by 360 Market Updates reads, “The global freighter conversions market size is projected $400.1 million in 2022 and is forecasted to the size of $841 million by 2028, with unexpected a CAGR of 13 percent.”
The aerospace consulting firm AeroDynamic Advisory in March 2022 analysis projected that the volumes of converted freighters will grow from ~70 aircraft per year pre-Covid to over 180 per year by 2025, and ~160/year on average for the entire decade.
It also reads, “This rapid increase in output is enabled by a significant amount of new capacity for conversions being added to the market — our firm estimates that nearly 30 new conversion lines will be opened by 2025 compared to 2020.”
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