The global air freight market is experiencing a significant growth, and will grow considerably in next few years. Air Freight is parcel delivery service which transports the goods or shipment through privet or commercial air carrier.
Air Freights are preferred in various industries for the transportation of goods across the globe. The main advantage of this services is the express transportation across the world in minimum time period. This services are very much beneficial for the small organization for international treading. In addition, the transportation of the goods is carried out by air ways which has high level security which raises its popularity among consumers and increases its demand. This factor is responsible to drive the growth of the market. Innovations in the air freight industry paves the way for improved and better transportation services as compere to the traditional transportation services.
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COVID-19 scenario analysis:
• Economic crisis occurring due to lockdown across the world affects the transportation services greatly.
• The outbreak has caused lockdown of the manufacturing factories and as a result, there is a disruption in the production cycle. Accordingly, the supply chain has also got affected.
• The air ways transportation are temporarily not active to stop the spread of COVID 19 virus.
• Migrant employees and laborers will return to their native places, which in turn, will impact the transportation industry they were employed in. However, this industry is totally depend on the employees for the pickup and droop services.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Surge in import and export activities in all types of industries, raising demand for transportation services which maintain the safety of the goods, and raising penetration of internet across the globe are the factors that drive the global air freight market. However, high cost charged by the service provider, and the lack of awareness in emerging economies this factors may hinder the market growth. Contrarily, raising aware ness about the service regarding the safety and security of the goods and aggressive marketing strategies to expand the market in untapped region will act as an opportunity for the growth of the market.
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The global air freight market trends are as follows:
Surge in import and export activities in all types of industries
There are many entrepreneurs entered in the market with the advance technology imported from various countries or regions across the globe. The government of all countries also taking initiative to become technologically advanced country. The various companies are treading internationally with the help of transport services. These factors are responsible to rises the demand for the air freight services which helps to drive the growth of the market. In May 2020, Time-critical logistics business time:matters has signed the collaboration agreement with express firm CB Logistik. This collaboration agreement was signed to add a new flight and logistics operation between Germany and Spain.
Surge in the demand for safe and secure transportation of the goods
The air freight transportation services are not only used by commercial sector but also used by private sectors. The imported goods are may be shock sensitive or confidential such as military equipment. The consumers are very much conscious about the safety and security of their goods. The assurity of the the safety and security of the goods given by the service provider raises its demand in all sector and is responsible to drive the growth of the market. In May 2020, Emirates SkyCargo the key player in air freight market has launched four weekly cargo services to New Zealand. These four new services are launched to help businesses in the country to key trading partners across the globe.
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Key benefits of the report:
• This study presents the analytical depiction of the global Air Freight industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Air Freight market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Air Freight market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global Air Freight market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Air Freight Market research report:
• What are the leading market players active in the Air Freight market?
• What the current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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