Various studies have given projections for how frequencies of tropical cyclones (TCs) might change under climate change. In this study, we combine a set of such projections with uncertain estimates of frequencies of tropical cyclones in a baseline climate to produce probabilistic projections of tropical cyclone frequencies for the next 50 years. The novel aspect of our projections is the inclusion of baseline uncertainty. We consider frequencies of Saffir-Simpson Hurricane Wind Scale category 0-5 and category 4-5 storms for the six major tropical cyclone basins. We find that in several cases the means and medians of the frequency of category 0-5 storms are projected to decrease, but that increasing uncertainty nevertheless leads to increases in the likelihood of high rates of TC activity in the future. We then show how the variance of the distributions of uncertainty can be decomposed into terms due to baseline uncertainty and climate change uncertainty. We use this decomposition to determine the year in which climate change uncertainty overtakes baseline uncertainty. Over the next 20 years we find that in some basins baseline uncertainty dominates and in other basins climate change uncertainty dominates. We are able to relate these variations between basins to the coefficients of variation of the baseline and climate change inputs. Finally, we quantify how climate change affects estimates of near-term TC frequency, including the extent to which it increases the uncertainty. These results help us understand two of the major sources of uncertainty in estimates of tropical cyclone behaviour now and in the future, and the role climate change is playing in changing that behaviour. They also demonstrate how estimates of TC change can be combined with observations to create projections of future TC climate.