DUBLIN–(BUSINESS WIRE)–The “Air Freight Forwarding Market – Growth, Trends, and Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The Air Freight Forwarding Market is expected to grow at a CAGR of around 4% during the forecasted period.
Although land and ship cargo transportation remain as favorable options, goods transport by air is considered as the quickest and the unhindered mode of transportation. In 2018, cargo volumes grew by 4.1% to 63.7 million tons. In terms of freight tons-kilometers (FTK), Airfreight returned to growth in March 2019 after three months of year-on-year declines. However, the cargo sector benefited from lower costs in 2019. Due to COVID-19, the air freight transport had witnessed significant effect as the movements of aircrafts were restricted. However, with the improvement in economy, the market is expected to pick-up growth going forward.
- DHL Supply Chain & Global Forwarding
- Kuehne + Nagel
- DB Schenker Logistics
- DSV Panalpina
- UPS Supply Chain Solutions
- Expeditors International
- Nippon Express
- Bollore Logistics
- Hellmann Worldwide Logistics
- Kintetsu World Express
Key Market Trends
Rising Free Trade Agreements benefits Air Freight Market
Following somewhat slow growth in the early 2010s, the global volume of air freight has increased rapidly in recent years with freight volumes reaching 61.3 million metric tons in 2019. One of the reasons for rising volumes of air freight is the rising number of free trade agreements worldwide.
The international trade agreements have great value as they help eliminate artificial barriers to trade such as tariffs, quotas and protective subsidies. Emerging array of multilateral preferential trading arrangements such as the North American Free Trade Agreement (NAFTA), the Latin American Free Trade Association, Association of Southeast Asian Nations Free Trade Area (AFTA) and many more have greatly affected the ease of doing business in today’s world.
The latest agreement is the Trans-Pacific Partnership (TPP). Once fully ratified, the Trans-Pacific Partnership is set to become the world’s largest trade agreement. The TPP already covers 40% of global GDP, and trade between member nations is already significant. The TPP aims to cut tariffs, regulatory barriers to trade and removal of customs duties. By removing tariffs and other barriers to trade, the agreement hopes to further develop economic ties and boost economic growth.
APAC Largest Contributor to Air Freight
In 2018, cargo traffic at airports in the Asia-Pacific region accounted for the largest share of cargo traffic worldwide, with around 48.5 million tons handled. APAC was the largest airfreight forwarding market in 2019, and the region will offer several growth opportunities to market vendors during the coming years. Increasing demand for cross-border e-commerce will significantly influence airfreight forwarding market growth in this region. At present, almost 68% of the market’s growth originates from APAC. China and Japan are the key markets for airfreight forwarding in APAC. Manufacturing in China and Japan has increased due to increased demand for their exports throughout 2017. This was possible due to a surge in economic activity in Europe and continued robust performance from the U.S. The Market growth in this region is expected to be faster than the growth of the market in other regions.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Current Market Scenario
4.2 Value Chain / Supply Chain Analysis
4.3 Technological Trends
4.4 Investment Scenarios
4.5 Government Regulations and Initiatives
4.6 Spotlight – Air Freight Transportation Costs/Freight Rates
4.7 Insights on the E-commerce Industry
4.8 Impact of COVID-19 on Air Freight Forwarding Market
5 MARKET DYNAMICS
5.4 Industry Attractiveness – Porter’s Five Forces Analysis
5.4.1 Bargaining Power of Suppliers
5.4.2 Bargaining Power of Consumers
5.4.3 Threat of New Entrants
5.4.4 Threat of Substitutes
5.4.5 Intensity of Competitive Rivalry
6 MARKET SEGMENTATION
6.1 By Geography
6.1.1 North America
6.1.4 Middle East & Africa
6.1.5 South America
7 COMPETITIVE LANDSCAPE
7.1 Market Concentration Overview
7.2 Company Profiles
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/tdmroc
Laura Wood, Senior Press Manager
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