The world’s largest maker of jetliners, Boeing, told a trade conference in Paris today that it sees air cargo traffic growing at an annual 4.2 percent rate over the next 20 years. That would point to a need for 930 new and 1,440 converted freighters to meet demand by 2035.

The company projects e-commerce will be one of the primary factors driving that growth, reaching $3.6 trillion by 2020. Additionally, China's express market keeps expanding, with a five-year growth rate of 55 percent in volume and 39 percent in revenue.

The Boeing forecast shows markets linked to Asia will lead all other international markets in average air cargo growth. Dedicated freighters still carry more than half of air cargo traffic and remain the leading cargo capacity provider.

“Air cargo is critical to global trade,” said Randy Tinseth, VP Marketing at Boeing Commercial Airplanes. “Our airplanes provide capacity and reliability advantages that will help our customers adapt and succeed in the evolving air cargo marketplace.”

The 2016 World Air Cargo Forecast is available for download here.