Shipping demand surges! UPS orders 19 more Boeing 767 freighters!

WASHINGTON (Reuters) - U.S. aircraft manufacturer Boeing said on Tuesday that UPS has ordered 19 767 freighters from the company, which are expected to be delivered between 2023 and 2025, as e-commerce business surges and demand for air cargo soars.

Boeing said the purchase agreement adds to its record-breaking freighter sales this year, including orders for 80 new wide-body freighters and more than 80 converted freighters. The new freighter orders will enable UPS to meet its mid- to long-term cargo needs, while also noting that UPS has ordered a total of 91 of the freighters since they were introduced in 1995.

With the pandemic boosting online shopping, supply chain disruptions and a decline in passenger flights stimulating demand, the freighter market has become a hot commodity in the eyes of aircraft manufacturers.

Although many aircraft manufacturers are scrambling to carve out a niche in this market, Boeing still dominates the sector, with about 90% of the market share. It is expected that air cargo demand will grow by 4% annually in the next 20 years.

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