New report sees e-commerce as the key to growth
The Air Cargo Market to 2027 - Global Analysis and Forecasts by Type; Service; and End User report has been added to ResearchAndMarkets.com's offering, outlining how e-commerce is set to drive the growth of the air cargo sector.
The global air cargo market was valued at US$102.00 billion in 2018 and is expected to grow at a CAGR of 4.1% during the forecast period 2019 - 2027, to account to US$145.20 billion by 2027.
Factors such as surging e-commerce sector and increasing import-export trade globally is expected to drive the air cargo market growth.
Although global economic growth is estimated to surge in aggregate during the forecast period, this covers a broad range in regional as well as country-level performance.
Economic activity in the developed economies is anticipated to grow at a similar pace as they were during the past five years, with moderate slowdowns in the US and Japan, being compensated by sturdier growth in the Eurozone.
The latter is expected to support incoming demand for air cargo into Europe on the major trade lanes between North America and Asia.
According to International Monetary Fund, GDP growth in the emerging group of economies is anticipated to spur in the coming few years, facilitated by robust activity in energy-producing countries such as Brazil and Russia.
Similar expectations for global goods trade is anticipated at a regional as well as country level.
Sturdier economic growth in the emerging economies is anticipated to translate into faster goods import growth.
Sub-Saharan Africa is also projected to witness robust goods trade growth over the next few years, owing to FDI inflows from Asia.
However, China is the only key country anticipated to notice a slowdown in goods trade growth, yet IATA anticipate this impact to be felt most intensely by bulk shippers as well as sea freight, as heavy materials demand associated to investment declines.
Indeed, prosperous opportunities for air cargo are expected as the country shifts towards a more consumer-led growth model.
Some of the players present in the air cargo market are DHL International GmbH, Lufthansa Cargo AG, FedEx, Emirates, SkyCargo, Cargolux, Cathay Pacific Airways, United Parcel Service of America, Inc., ANA Cargo EtihadCargo, and Zela Aviation The Air Charter Company among others.
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