Among Boeing's many milestones for commercial aircraft orders in 2007 is the one for 83 freighters. The aircraft account for around $18.73 billion at list prices, or 10 percent of the plane maker's order book for last year. The news is a further indication that the air freight business is about to expand significantly in the years ahead, despite modest growth presently.

"Air freight is poised to continue growing, probably at a rate faster than passenger service," said George Hamlin, managing director for Airline Capital Associates. "This announcement also shows Boeing's significant lead in new freighter aircraft versus its major competitor." Most of the interest in new freighters is with the major integrators and large long-range international carriers.

Approximately 400 new freighters will enter service over the next four years. And that number requires "that we have at least 6 percent growth per year in order to have a match of supply and demand," said Robert Dahl, project director for the Air Cargo Management Group. If the growth comes in at less than 6 percent, then the retirement of older, large freighters will be accelerated, he said.

One concern, said Dahl, is the possibility of overcapacity from these many orders although there are no clear signs of that happening, said Dahl.

Boeing also set record orders for freighters in 2006 with 81 and in 2005 with 74. Net Boeing orders for all commercial aircraft in 2007, 1413 aircraft, are valued at around $171.1 billion.

"2007 told us that global demand for commercial airplanes remains strong and sustained," said Scott Carson, president and CEO of Boeing Commercial Airplanes.

The twin-engine widebody 787 program enjoyed a record-setting year with 369 orders in 2007, bringing to 817 orders since the composite filled aircraft was launched in 2004. British Airways and Vietnam Airlines were the latest carriers to order the 787-combination airliner.

Sales of the widebody 777, which is thought to be a primary freighter of the future, remained strong in 2007, with 141 net orders.

Robert W. Moorman