In the 21st century, there is a rise in the instances of global business, which has boosted the performance of the air cargo market. Globalization has played a key role, and it acts as a catalyst and positively influences the market setting. Some of the main commodities which move across national boundaries are retail products, electronic commodities, food and beverages, pharmaceutical and healthcare products. The Air Cargo market is extending substantial support to other industries which target the global market audience. Due to the rising demand for movement of goods and commodities through the air, the industry employs a major chunk of potential employees in the competitive industry.
A thorough analysis of the air cargo market based on regions such as North America, Africa, Europe, and the Middle East is presented. In addition to this, the exploration of the key factors that have a strong impact on the current performance of the air cargo market and its future growth is covered. A wide range of strategic tools such as Porter’s Five Forces model and SWOT analytical tool has been used to get a deeper insight into the market environment of the air cargo industry.
Competitive Landscape: UPS Korean, Air FedEx, Emirates Cathay, Pacific Cargo
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Key market segments
The global air cargo industry can be segmented on component, service, end-user, destination, and geography.
Based on the component, the air cargo industry is further categorized into air freight and airmail. Based on service, the sub-classifications are regular and express. The end-user segment has several categories, such as retail, third party logistics, and others. In the destination segment, the industry includes both domestic and international businesses. Based on geographical segmentation, the air cargo market comprises of diverse locations such as North America, Asia-Pacific, Latin America and many more. The dynamic trend of the industry based on every segment has been critically evaluated.
Analysis based on geographical segmentation
The main regions which have been given high emphasis in the evaluation of the air cargo industry include Asia-Pacific, Europe, North America, Latin America, Middle East, and Africa. The growth of the air cargo industry varies in these regions a diverse set of factors come into play and give rise to unique opportunities and threats. The key factors that have influenced the performance of the industry based on geography are the economic performance of nations and the presence or absence of trade tensions.
The growth of the air cargo market in North America and Africa has been quite promising. Some of the main reasons for the robust performance of the air cargo industry in the North American market setting include the strong economic health of the United States of America and the high level of consumer spending in the nation.
Latest industry news
Artificial Intelligence (AI) technology has entered the air cargo industry. SATS, a Singapore-based ground handler and TUM CREATE, a reputed research platform have introduced AI technology to automate and streamline the cargo handling procedure. This unique AI-powered OS allows data connectivity for end-to-end optimization of the air cargo operations.
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