Jun 12, 2020 (The Expresswire) -- Global Air Freight Market (2020-2024) report highlights Significant dynamics and in-depth analysis of the market segment with concentrating on factual data, present industry activities, growth opportunities, new product inventions, and market forecast for the future prospective of time along with leading market players, market study based on several regions, and extensive product. Air Freight Market report can function as an assistive reference point for helping individuals as well as businesses from this segment. The leading industry players across the globe are explored in detail in this report. It demonstrates product overview, company summary, and manufacturing cost, capacity, and market shares for most of the participants.
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The objective of the study is to define market sizes of different segments and countries in previous years and to forecast the values to the next Five years. The report is designed to incorporate both qualify qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as drivers and restraining factors which will define the future growth of the Air Freight market.
The Air Freight Market business development trends and selling channels square measure analyzed. From a global perspective, it also represents overall industry size by analyzing qualitative insights and historical data.
While land and ship cargo transportation remain as favorable options, goods transport by air is considered as the quickest and the unhindered mode of transportation. In terms of freight tons-kilometers (FTK), air freight transport registered a significant 9.7% growth in 2017 when compared to 3.6% growth in 2016. This signifies that the demand for air freight grew at twice the pace of the expansion in the global trade, which registered an increase of 4.3% in 2017. Furthermore, cargo airlines plan to tie up with logistics service providers to create an efficient supply chain regarding freight forwarding, storage capability, and customs clearances.
E-Commerce - A Key Driver
Despite being a costlier mode of transportation, the growing demand for perishables, chemicals and valuables, and the rising demand for just-in-time production of goods has created a massive demand for air freight services. Today, air freight is being impacted by the rise of e-commerce from both B2B and B2C perspectives. The evolving e-commerce has put pressures on sales channels for faster delivery and optimum supply chain. This scenario brings opportunities for the third-party logistics and warehousing services to integrate with the air e-commerce channel. Owing to the continued growth in online shopping, many third party logistics (3PLs) are offering more multi-modal services, which includes air cargo service as a critical mode of transportation. Furthermore, the growth in the global cross-border e-commerce is anticipated to boost the demand for the air cargo industry. Particularly, The Asia-Pacific region, which accounted for 37% market share is identified as a critical region for the air e-commerce market. The region registered a growth of 7.8% in 2017 when compared to 2016.
On the other hand, the growing demand for air freight transportation services has opened new challenges for the air cargo service providers. Airlines need to focus on implementing fuel-efficient solutions and accommodate innovative technologies to provide cost-effective services. In the logistics perspective, the storage facilities need to be developed to assist the global increase in air cargo. Special economic zones (SEZ), free trade zones (FTZ), and the bonded warehouses are projected to cater significant warehousing needs for the freight moving in and out of the airport shortly.
The market study on the global air freight industry is segmented into transportation, forwarding, and value added business based on service type; domestic and international based on destination type; and perspectives on end users. This study covers technological trends, regional analysis, and government regulations regarding the market.
May 2018: UPS Airlines is launching a new regular non-stop flight from its Worldport global air hub in Louisville to Dubai, which improves the time-in transit from South and North America to the key destinations in the Middle East. Furthermore, the company plans to take role as official logistics partner for Expo 2020 Dubai.
FedEx (Federal Express) Corporation, United Parcel Service Inc., The Emirates Group, Cathay Pacific Airways Limited, Cargolux Airlines International S.A, China Airlines Ltd, Japan Airlines Co., Ltd, Qatar Airways Company QCSC, Deutsche Lufthansa AG, All Nippon Airways Co., Ltd (ANA), and others.
May 2018: UPS Airlines is launching a new regular non-stop flight from its World port global air hub in Louisville to Dubai
FedEx, United Parcel Service, Emirates, Cathay Pacific Airways, Cargolux.
Global Air Freight Industry offers latest trends, growth prospects, industry competitiveness, major players , segment market share, and forecast to 2023.
Reasons to purchase this report
To study current, and future of the, market in the developed and emerging markets
Analyze various perspectives of the market with the help of Porter’s five forces analysis
Detailed analysis of the segment that is expected to dominate the market
To know the regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
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Covered in this report
The Report Covers the Present Scenario and the Growth Prospects of the Global Air Freight Market for 2020-2024. To calculate the market size, the report considers new installations or sales and subscription payments of Air Freight.
The market is divided into the following segments based on geography:
Global Air Freight Market 2020-2024, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Growing research activities coupled with new product launches.
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High Opportunity in the Industry
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