The Air Cargo market, like the stock markets, is very difficult to forecast given the many variables and
factors involved in air freight trends. The air cargo industry is continually adapting to threats and
opportunities. The primary driver for air cargo growth is global economic activity which is determined and
measured by the World GDP. Currently, the GDP growth is relatively flat which is due to high
unemployment in developed economies and weakened and strained consumer purchasing. In the next
20 years, the world economic growth is forecasted to average around 3.2%. Air cargo is anticipated to
grow at an annual rate of 5.2% and be a critical component of supply chains both domestic and
international, especially in emerging markets which will connect established economies with developing
regions. These are markets where population migration and growth in the middle class have created a
strong demand for food and perishable commodities, which will substantially increase in volume and
tonnage. The Boeing Forecast indicates that over the next 20 years, air cargo traffic is expected to
double globally which in turn will create a demand to expand freighter fleets to approximately 3,200
airplanes. The largest growth market segment will be larger aircraft with payload lift capabilities of 80+
tons as traffic builds on long-haul international trade routes.