Airbus believes the volume of airfreight will double by 2032.

In its latest Cargo Global Market Forecast, the company argues traffic in this area will grow by an annual average of 4.8 per cent over the upcoming 20 years.

This will double the size of the current fleet with the addition of 2,700 aircraft - both new and converted. Yet only half of these may be for growth, with the other half needed to replace retiring aircraft.

Vice-president and head of freighters Andreas Hermann said: "Looking forward after a difficult few years, world trade is showing improvements and diverse emerging markets will call for increased flexibility in air cargo transport - for which mid-size freighters will be the primary means to achieve this."

Airbus predicts smaller carriers - currently 23 per cent of today's fleets - will grow from 380 to over 600 by 2032 to a 21 per cent share. Midsize freighters will stay at 45 per cent rising from 744 to 1,290. Large freight planes (32 per cent) will grow slightly to over 1,000 in service.

For smaller carriers, it predicts a boom in Indian and Chinese fleets - the latter of which is also predicted to heavily increase in mid-sized carriers as well.