While land and ship transportation of goods remains as favorable options, the transportation of goods by air is considered the fastest and most unhindered way of transportation. According to the IATA Airlines Association, freight traffic grew by 4.1% to 63.7 million metric tons in 2018. However, the industry forecast suggests that this amount could decline by 3.7% to 65.9 million metric tons in 2019. freight ton-kilometer (FTK), air travel recorded an increase in March 2019 after three months of annual decline. However, the freight sector is expected to benefit from lower costs in 2019. Total revenue from cargo is expected to reach $ 116.1 billion in 2019, compared with $ 109.8 billion in 2018.
In addition, cargo airlines plan to team up with logistics providers to create an efficient supply chain with regard to freight forwarding, storage options, and customs clearance. Air travel continues to face serious challenges, such as declining global trade, global economic activity and weakening consumer confidence, indicating a further decline. However, the market is expected to grow due to factors such as high demand for manufacturing exports and increased penetration of advanced technologies into the value chain. In addition, it is expected that the overall growth rate in the e-commerce sector will strengthen the growth prospects of the market under study over the forecast period.
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Key Market Segments:
Key Market Players:
FedEx (Federal Express) Corporation, United Parcel Service Inc, The Emirates Group, Japan Airlines Co. Ltd, All Nippon Airways Co. Ltd (ANA)
- Other Services
- Addendum on Express Air Freight Industry
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Key Market Trends
The emergence of E-commerce Propels Demand for Air Freight Services
- North America
Despite the fact that this is a more expensive form of transport, the growing demand for perishable products, chemicals, and valuables, as well as the growing demand for timely production of goods have created a huge demand for air transportation services. Currently, the growth of air travel is affected by the development of e-commerce in terms of B2B and B2C. Emerging e-commerce has put pressure on sales channels for faster delivery and an optimal supply chain. This scenario enables third-party logistics and warehouse services to integrate with the e-commerce channel. Due to the continued growth of online shopping, many third-party logistics companies (3PLs) are offering more multimodal services, which include air freight services as a critical transportation method. In addition, growth in overall cross-border e-commerce is expected to increase the demand for air cargo.
Key industry e-commerce players are disrupting the traditional supply chain with some innovative measures to become independent. Amazon seems to be leading the race following a different strategy. Using Amazon Flex, Seller Flex, or the Amazon Prime Air program, the retail giant is trying to dominate the supply chain of its own services. As a result, it can reduce costs and become independent of its current logistics service providers. According to technical sources, the company also offers transportation services to third parties that are not represented on its website.
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Table of Content:
Chapter 1 Global Air Freight Service Market Overview
Chapter 2 Global Economic Impact on Air Freight Service Market Industry
Chapter 3 Global Air Freight Service Market Competition by Manufacturers
Chapter 4 Global Air Freight Service Market Production, Revenue (Value) by Region
Chapter 5 Global Air Freight Service Market Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Air Freight Service Market Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Air Freight Service Market Analysis by Application
Chapter 8 Air Freight Service Market Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Air Freight Service Market Forecast (2018-2023)
Chapter 13 Appendix
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