This report provides exclusive insights into the COVID-19 impact on the Air Cargo Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Air Cargo Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Air Cargo Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on air cargo market provides an in-depth analysis of segments and sub-segments in the global as well as regional air cargo market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional air cargo market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global air cargo market. According to the report, the global air cargo market is projected to grow at a CAGR of 4.6% over the forecast period of 2019-2025.
Aviation increases the global reach of businesses and gets products to market in a more convenient and quicker way. Air cargo allows businesses to be more responsive to the needs of customers and improves communication between buyers and sellers. Autonomous vehicles such as Google's driverless car are becoming increasingly popular with products and it is projected that companies are expecting the commercialization of autonomous cars. The popularity of autonomous vehicles has penetrated the logistics sector, reaching a level of maturity for commercial use in warehouse operations. Airfreight hubs are becoming increasingly essential to e-commerce growth. As e-commerce giants, integrators and carriers are building up their package sorting and automation capabilities, along with extending networks in the hopes to capture a larger portion of the growing demand.
Increasing development and transactions in the e-commerce and pharmaceutical sectors are the major growth factor of the air cargo market. Furthermore, factors such as continuous developments across information technologies sector in compliance with the regulations of air cargo business and focus on employee progress through frequent training and targets, and business intelligence services are other driving factors of the market. Rising demand for the transportation of goods is fueling the growth of the global air cargo market. The lucrative growth of the infrastructure for cargo hubs across various countries is boosting the market growth. However, increasing prices of aviation fuel coupled with political instability in numerous countries hindering the growth of the market. Moreover, the growing demand for quick and prominent shipping methods across the world due to expanding the e-commerce sector is expected to provide wide opportunities to the market players.
Geographically, Asia-Pacific dominates the global air cargo market due to the growing demand for online retail stores, specifically fashion stores and rising demand for the just-in-time production of goods. E-commerce trade in Asia-Pacific is increasing rapidly as a result of major focus to meet the delivery needs of their customers thereby positively influencing the market. The investments in this industry will pose lucrative growth opportunities for market players over the forecast period.
The report on global air cargo market covers segments such as component, service, and end-user. On the basis of component, the sub-markets include air freight, and air mail. On the basis of service, the sub-markets include express, and regular. On the basis of end-user, the sub-markets include consumer electronics, retail, third party logistics, food and beverages, pharmaceuticals and healthcare, and other end-users.
The report provides profiles of the companies in the market such as Cathay Pacific Cargo, FedEx Express, UPS Airlines, DHL Aviation, Korean Air Caro, Lufthansa Cargo, China Airlines Cargo, Singapore Airlines Cargo, Emirates SkyCargo, Cargolux, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of air cargo market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.