Air Cargo: A Global Strategic Business Report
San Jose, CA (Vocus) September 27, 2010
The requirement for advanced electronic goods in developed nations such as Western Europe and North America is expected to act as a major factor driving demand for air cargo in the near future. At present, about 20% of the manufactured goods traded internationally use air cargo transport and this percentage is expected to reach 77% by the year 2020. In terms of value, about 38% of goods traded at international level are shipped by air. The freight demand continues to grow in the future and is likely to exceed passenger demand in the long run. Just-in-time delivery remains the key factor for the success of global air cargo industry. Reforms in government regulations, air cargo processing operations and supply chain distribution would further propel the growth of air cargo industry, encouraging it to enhance product mix further.
The global air cargo market experienced negative growth since 2008 due to reduced trading of goods, on account of economic recession and slowdown. The impact of global downturn on trading activity was clearly visible, with stocks of unsold goods piled up in company warehouses amid low demand due to reduced consumer spending. Air cargo carriers found it difficult to receive fresh orders for transport of goods. North America, Europe, Africa and Asia-Pacific were among the major regions that experienced considerable impact of slowdown. The year 2009 recorded the most significant influence on demand, as average load factors fell to nearly 49.4% from previous high of over 65%. Slowdown in the airfreight market also led to parking of 24% of the global freighter fleet and inactivity of large freighters such as MD-11s and Boeing 747s. Some of the most pressing issues faced by the air cargo industry include the adverse effect of the worldwide crisis, volatile fuel prices, and changing shift towards cargo transport from air to sea. The air cargo market still faces issues related to overcapacity, which in turn has a devastating effect on annual yields. However on the whole, global demand for air cargo is expected to witness a slow recovery, primarily due to the sluggish economic recoveries in the US and Europe and Asia-Pacific.
The United States continues to rule the world market, as stated by the new market research report on Air Cargo. The Domestic United States airfreight cargo route is the largest and most matured, with majority of air cargo movement to and from the US to other parts of the world. China-North America and Asia-North America constitute the other major air cargo traffic routes. Domestic China is the fastest growing airfreight market, projected to grow at the overall highest compounded annual rate through 2015. The International air cargo traffic is slated to grow at a faster rate over the domestic air traffic as well as the maritime traffic.
Key market participants leading the global air cargo market include Air China Limited, Air France-KLM, Alitalia, British Airways PLC, Cathay Pacific Airways Ltd., China Cargo Airlines Ltd., Delta, DHL International GmbH, Deutsche Lufthansa AG, Emirates SkyCargo, FedEx, Japan Airlines Corporation, Korean Air, Polar Air Cargo Worldwide, Inc, Cargolux Airlines International S.A., Qantas Airways Limited, among various others.
The report titled “Air Cargo: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of industry overview, market trends, freighter fleet, new service introductions, recent industry activity, and profiles of market players worldwide. Analysis and overview is presented for major geographic markets such as the United States, Canada, Europe, Asia-Pacific, Latin America and Rest of World. Market analytics are provided in terms of Freight-Ton-Kilometers (FTKs) for Air Cargo Traffic by Route - Domestic US, Domestic China, China-North America, North America-China, Asia-North America, North America-Asia, North America-Japan, Japan-North America, Europe-North America, North America-Europe, China-Europe, Europe-China, Asia-Europe, Europe-Asia, Europe-Japan, Japan-Europe, Europe-Africa, Africa-Europe, South America-North America, South America-Europe, and Others. Global Air Cargo traffic market has also been analyzed in terms of destination – International and Domestic.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Air_Cargo_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Web Site http://www.StrategyR.com/
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