Air freight may be the shipment and transfer of merchandise via an air carrier which can be commercial or charter. Such shipments can travel from commercial and passenger aviation gateways to anywhere the planes can fly and land. The global air freight market report is segmented by aircraft type and freight item. The aircraft type segment is further segmented into express, all cargo, ad hoc cargo & charter carrier, and combination. The freight item segment is further segmented into pharmaceutical, machinery & electrical equipment, aircraft spare part, among others.
The increasing economic activity and world trade will be the one on the most important economic drivers for your global air freight market. Although the economic conditions happen to be moderate within the last few few years, they have got recently began to improve. Air freight has always been an indispensable tool for that transport of time-sensitive commodities, like perishables, high-value, low-weight goods, including electronic devices, high-fashion apparel, pharmaceuticals, industrial machinery, and high-value intermediate goods, for instance auto parts.
The global air freight market grew by 6.9% Year-on-Year in 2017, which can be more than its five-year average growth rate. The APAC region held the most important market share with in excess of 40% with the total market in 2016 also it increased by 7.5% Y-o-Y, with China leading with 15% on the total business, and which, is predicted to continue sometime soon. Mature markets, like North America and Europe, have began to recover from the international economic meltdown and therefore are showing promising signs and symptoms of growth. This is evident off their growth rates, that happen to be 8.7% and 8.5%, respectively.
The rising fuel prices possess a complex influence on this market and air transport is becoming more expensive. However, it is usually driving the advantages of more efficient planes, which includes created a marketplace for advanced cargo-only flights. Of the current global cargo fleet, 61% happen to be converted from old passenger flights. However, that is changing gradually and will have a very positive influence on the market, since the performance, efficiency, and robustness of new, purpose-built freighters are anticipated to outweigh the lower purchase prices for converted large freighters eventually, specifically intercontinental operations, where high cargo density, larger payloads, and extended range are important.