“Air cargo market in Asia Pacific is expected to grow from US$ 37.63 Bn in 2018 to US$ 59.13 Bn by the year 2027. This represents a CAGR of 5.2% from the year 2020 to 2027.”
The factors such as rapid growth of e-commerce sector and rising demand from temperature-sensitive product are propelling the growth of the air cargo market. Moreover, the emphasis on design and implementation of various software services by the market players is anticipated to boost air cargo market growth in the forecast period. The transportation of temperature sensitive goods such as drugs, chemicals, and medicines are creating a huge opportunity for cold chain logistics participants and are significantly driving the air cargo market.
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- ANA Cargo Inc. (ANA Group)
- Lufthansa Cargo AG
- United Parcel Service of America, Inc.
- Etihad Cargo
- FeDex Corportion
- Cargolux Airlines International S.A.
- DHL International GmbH
- Emirates SkyCargo
- Cathay Pacific Cargo
- Zela Aviation The Air Charter Company
Pharmaceutical companies are highly dependent on air transportation due to factors such as time-sensitivity and temperature controlled transportation. The International Air Transport Association (IATA) took an initiation to support air cargo sector to comply with the pharmaceutical manufacturers requirements. IATA along with air cargo stakeholders and regulators formed the Center of Excellence for independent validators in Pharmaceutical Logistics. IATA is highly focused on the compliance, safety, security, and efficiency of pharma transportation by forming globally recognized pharmaceutical product handling certification.
Air cargo service providers are making necessary strides forwards in cold-chain technology to fulfill the demand for a fast-growing pharmaceutical market. As per IATA, by 2020 Biopharma cold-chain logistics spending will increase by 8% to 9%. Moreover, biopharma sales are expected to increase by 4% to 5% by 2020. The Asia Pacific is expected to witness high spending in cold-chain logistics during the forecast period due to factors such as the region’s expanding middle class in developing countries and the aging population in developed countries.
China is anticipated to lead the air cargo market across the Asia Pacific region through the forecast period. China holds a position of world’s utmost prominent manufacturer of shoes to heavy machinery. China is a global leader in the manufacturing of passenger cars and commercial vehicles, as well as electronic product assembly. China has become the world’s premier manufacturing center, with industries producing commodities such as computing equipment, electronic gadgets, apparel, and others. Most of the produced goods are exported and are transported by air. The rapid increase in air trade with other countries of Asia, North America, and Europe is a key driver for the growth of China’s domestic air cargo market.
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Asia Pacific AIR CARGO MARKET SEGMENTATION
– Air Mail
– Air Freight
– Pharmaceutical & Healthcare
– Food & Beverage
– Consumer Electronics
– Rest of Asia Pacific
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific Air Cargo market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific Air Cargo market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Contact Person: Sameer Joshi
Email Id: [email protected]
About The Insight Partners:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.