A new air cargo market report has forecasted that the air cargo market is to hit record levels by 2025.
The report covers all the major trends and services playing a key role in air cargo market growth over the forecast period.
It also highlights the drivers, restraints, and opportunities expected to influence market's growth during the said period.
The study provides a holistic perspective on the air cargo market's growth throughout the above mentioned forecast period in terms of revenue (in US$), across different geographies, including Asia Pacific, South America, North America, Europe, and Middle East & Africa (MEA).
The report echoes sentiments made by Boeing after it released its 2018-2037 outlook which predicts massive growth in the airport industry with an outlook placing the growth figure at around US$6.3 trillion.
The growth translates into 42,370 deliveries, a 4.7% increase in passenger traffic and a 3.5% fleet growth.
Randy Tinseth, Vice President of Commercial Marketing for The Boeing Company, said: "For the first time in years, we are seeing economies growing in every region of the world.
“This synchronised growth is providing more stimulus for global air travel. We are seeing strong traffic trends not only in the emerging markets of China and India, but also the mature markets of Europe and North America.
"Along with continued traffic expansion, the data show a big retirement wave approaching as older airplanes age out of the global fleet."