N. I Malik, Strategic Business Analyst, Global Air Freight Market 2020 report is a professional and in-depth research report on the world’s major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific). It covers the market landscape and its growth prospects over the coming years. Air Freight Market report also includes a discussion of the Key Vendors operating in this Global market. With China’s rapidly growing economy, including the e-commerce sector, and a growing middle class, the future of China’s air freight industry is expected to continue on a growth trajectory, according to a re cent report by the International Air Transport Association (IATA). The number of flights between China and other emerging markets in Asia is expected to increase by 6% over the next 10 years.
The number of aircraft in the world’s cargo fleet is increasing by more than half, and the role of large production freighters continues to grow, reaching 30 percent by 2033, according to the International Air Transport Association (IATA). China’s largest cargo terminal, Shanghai International Airport, is about to undergo an upgrade that will include a state-of-the-art cargo terminal capable of handling more than two million tonnes of cargo per year. It is projected that 3,260 freighters will be in service in the United States by 2020, up from 2,500 in 2015. The e-commerce giant increased its global freight fleet by more than 1,000 percent between 2015 and 2016, according to IATA.
By exploiting the efficiency and capacity of large freighters, airlines will be able to cope with the projected growth in air cargo traffic in proportion to the increase in the number of aircraft. We need to deliver cargo when it is needed and avoid surpluses and deliver it when we need it, “he said While there is ample investment in the development of passenger terminals, the development of freight facilities tends to focus on new sites that are crucial for the future of the air freight industry. According to the International Air
Transport Association (IATA), the global cargo fleet will grow by more than 75% over the next five years.
The global growth rate is in the e-commerce sector, and this sector can attribute most of its current prosperity to the growth of the global e-commerce market and the rapid growth of online shopping. As e-commerce becomes more widespread and rapidly adopted by consumers, it is expected to grow faster than the global economy as a whole. Furthermore, the increase in demand for air cargo as a result of the global economic downturn and the fall in oil prices is likely to have strengthened growth prospects over the forecast period.
The analysis suggests that air freight volume will increase by an average of 3 percent per year until at least 2025 and most likely until 2030.
Cargo aircraft from Hong Kong loaded with air cargo continue to lead the annual growth in air cargo, while China is rapidly expanding its growing network of routes. China’s airlines carry more than 80 percent of the world’s cargo, but revenues have been virtually stagnant since 2010, according to data from the International Air Transport Association (IATA). A combination of a modernized freight fleet and a more efficient air transport system will expose general cargo to price pressure of up to 3 percent per year.