Global Airfreight Market

Description

Introduction

Air freight has remained a paramount tool for the transportation of high value, low weight goods such as electronics and high fashion apparel, time sensitive commodities such as perishable goods and high value intermediate goods like auto parts.

The increasing world trade and economic activities are driving the growth for the global air freight market. Recently, rise in trade agreements between the nations has facilitated the growth prospects over the next few years for the global air freight industry.

Market Dynamics

The market is witnessing enormous demand with relaxation of the trade policies by the government, which has lowered the trade barriers, thus increasing imports and exports among the nations

This gives an opportunity for the existing vendors for expansion of business across the globe. One of the drivers is the consistent rise in e-commerce across the world. This mode which helps in transport of goods from one location to another in a short span of time has increased the popularity among the consumers during the forecasted period. Fluctuations in the price of fuel are a major cause of concern for the market.

Market Segmentation

The global air freight market is segmented on the basis of

• End users
• Type
• Services

The market in service segment can be split into charter services, packaging and labeling, transportation and warehousing, documentation and PO management and value added services. Packaging and labeling is the most dominant service provided by the forwarding companies. On the basis of type, market can be segmented into air mail and air cargo. The market can be segmented into manufacturing, FMCG and retail, Pharmaceuticals, healthcare and chemicals, hi-tech consumer compliance and fashion and textile on the basis of end users. The manufacturing segment holds the dominant share in the global air freight market.

Geographical Analysis

The market is segmented into North America, Latin America, Western Europe, Eastern Europe, Africa and Middle East. APAC region has the highest market share in the global air freight market in terms of value and volume, followed by the EMEA and America. Also, huge trade volumes in regions like Japan, India and China aids in the progress of the market.

Key Players
Some of the key players in the market include DB Schenker, UPS Supply Chain Solutions, DSV, Sinotrans, Expeditors, Nippon Express and Deutsche Post DHL Group.