What is the future of air freight?
What is the future of air freight?
Air freight has real potential to become an omnichannel strategy, which will help moderate rates and ease competition for the limited air cargo capacity. Air freight as an omnichannel strategy is becoming a very real possibility across the world.
Will air freight continue to grow?
It is inevitable that the air cargo industry will look to become greener, which will change the make-up of the global air cargo fleet. According to Boeing’s World Air Cargo Forecast (2020-2039), the global world freighter fleet will grow by more than 70 percent over the next 20 years.
Are air freight costs increasing?
Air freight rates change since the beginning of COVID-19 outbreak 2019-2022. In December 2021, airfreight rates between Hong Kong and North America were at an all-time high of 12.72 U.S. dollars per kilogram since the coronavirus pandemic started.
How big is the air freight industry?
In 2020, the global cargo airline industry was valued at 110.8 billion U.S. dollars and is expected to reach almost 123 billion U.S. dollars in size by 2021. The leading cargo airlines worldwide include FedEx, UPS and DHL.
Which goods are best transported by air?
Generally the goods that are usually transferred through this means of transport are the following:
- Urgent goods.
- High volume goods.
- Intercontinental urgent mail.
- Spare parts and spare parts for land vehicles.
- Spare parts for the aerospace industry.
- Perishable food.
- Materials for fairs and events.
Will freight rates go up in 2022?
After a year in which freight rates continued to set new highs, spot rates are on the decline in 2022 with experts pointing to a series of factors likely contributing to an ongoing decline.
Is the air cargo industry growing?
Air Freight Market Statistics 2021-2027: The global air freight market was valued at $270.2 billion in 2019, and is projected to reach $376.8 billion by 2027, registering a CAGR of 5.6%. The logistics industry witnessed a huge decline in demand due to the global spread of the coronavirus pandemic in 2020.
What percentage of goods are shipped by air?
The global economy depends on the ability to deliver high-quality products at competitive prices to consumers worldwide. Air cargo transports over US $6 trillion worth of goods, accounting for approximately 35% of world trade by value.
Is it better to ship by sea or air?
Air freight is faster, safer and more reliable than ocean freight, but it’s also more expensive – a $195 ocean shipment can cost $1,000 by air. Learn more about air freight pricing here. Airlines also have stricter regulations when it comes to shipping hazardous materials.
What is the biggest advantage of air freight?
High level of security and reduced risk of theft and damage. Shipping by air offers the advantage of a high level of security, as the airport safety controls over cargo are tightly managed. Tightly managed airport controls also reduce the cargo exposure to theft and damage.
What is the CAGR of global air freight market?
The Global Air Freight Market is growing at a CAGR of >6% over the next 5 years. What is Global Air Freight Market size in 2017? The Global Air Freight Market is valued at 113 Billion USD in 2017.
What is the world air cargo forecast?
We publish the biennial World Air Cargo Forecast (WACF) to share our comprehensive analysis of the air cargo industry. The forecast provides insight on global air trade markets and industry trends, as well as a detailed forecast of future market growth and the world freighter airplane fleet.
Which region is the largest air freight forwarding market in the world?
In 2018, cargo traffic at airports in the Asia-Pacificregion accounted for the largest share of cargo traffic worldwide, with around 48.5 million tons handled. APAC was the largest airfreight forwarding market in 2019, and the region will offer several growth opportunities to market vendors during the coming years.
What is the future of the air cargo industry?
The global e-commerce industry, which makes up about 16% of the total air cargo business, is projected to grow more than double to USD 4.4 trillion by 2025. Some global carriers are working to gain a bigger share of the door-to-door delivery market that has been dominated by online shopping giants, such as Amazon, Alibaba, and JD.com.