The passenger to freighter market is projected to grow at a CAGR of 11.30% from 2023 to 2032, driven by increased demand and expanding conversion facilities infrastructure.

Market Research Future (MRFR) has published a cooked research report on the “Global Passenger to Freighter Market” that contains information from 2018 to 2032. The Passenger Freighter market is estimated to register a CAGR of 11.30% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Passenger Freighter market— AerCap (Ireland), Aeronautical Engineers, Inc. (US), Airbus SE (Netherlands), Boeing Company (US), Bombardier, Inc. (Canada), Elbe Flugzeugwerke GmbH (Germany), Embraer SA (Brazil), HAECO Group (Hong Kong), Precision Aircraft Solutions (US), ST Engineering (Singapore).

Market Highlights

The global Passenger Freighter market is accounted to register a CAGR of 11.30% during the forecast period. It is estimated to reach USD 6.0 billion by 2032.

The rising conversion of aircraft conversion facilities and increasing adoption of converted aircraft are the key market drivers for the expansion of the passenger to freighter market. The aircraft backlogs and overbooked conversion slots are restraining the growth of the market. Additionally, rising production capacity for the passenger freighter is anticipated to spur the use of Passenger Freighter, which is expected to promote the growth of the global Passenger Freighter market.

Segment Analysis

The global Passenger Freighter market has been segmented based on build type, aircraft model, and fitment.

On the basis of build type, the market is segmented into new build and refurbished. The refurbished segment was attributed to holding the largest market share in 2022 due to increasing demand for emergency air cargo, growing e-commerce, and supply of medicines.

On the basis of aircraft model, the global Passenger Freighter market has been segmented into narrow-body, wide-body, and regional jets. The narrow body segment was expected to hold the largest market share in 2022 due to its wide range of applications in the e-commerce sector.

Based on fitment, the global Passenger freight market has been segmented into slot/retro fitment and line fitment. The slot/retrofitment segment was expected to hold the largest market share in 2022 due to the rise in focus by MRO offers to enter into the freighter market.

Regional Analysis

The global Passenger freight market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The European passenger to freight market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Passenger to Freighter market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Passenger Freighter market comprises the Middle East, Africa, and Latin America.

The largest market share for Passenger to Freighter was maintained by the North American regional sector. This increase is attributed to the rise in e-commerce brought on by a lack of consumer mobility. Additional factors promoting market growth include increased investor investments, government support, and the viability of the technology in the area. The growing demand for hi-tech appliances, significant technology advancement and major production companies all have an impact on the US market.

Moreover, the European market has been persistently growing over the forecast period. The demand for Passenger to Freighter is driven by low cost and economic advantage. An increase in the economic life of aircraft supports market expansion.

Additionally, due to the increasing cargo activities and expansion of international trade and government bodies through policies and initiatives, Asia Pacific is anticipated to experience the quickest growth over the forecast period. For instance, Indian airline Indigo released the first converted freighter aircraft, A321 P2F. The Asia Pacific market will benefit from a growing emphasis on international trade.

Furthermore, the rest of the world's Passenger Freighter market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's advanced technology. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.

Key Findings of the Study

• The global Passenger Freighter market is expected to reach USD 6.0 billion by 2032, at a CAGR of 11.30% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the increasing rise in cargo activities and expansion of international trade.


• Based on the aircraft model, the narrow body segment was attributed to holding the largest market in 2022, with an approximate market share of 2.3 Billion- CAGR of 11.30%.


• AerCap (Ireland), Aeronautical Engineers, Inc. (US), Airbus SE (Netherlands), Boeing Company (US), Bombardier, Inc. (Canada), Elbe Flugzeugwerke GmbH (Germany), Embraer SA (Brazil), HAECO Group (Hong Kong), Precision Aircrfat Solutions (US), ST Engineering (Singapore).