Rising e-commerce industry as well as relocation of manufacturing in ASEAN countries propelling the air cargo market in the APAC region - New Research by The Insight Partners

Pune, India -- (SBWire) -- 03/23/2019 --According to a new market research study titled "Air Cargo Market" is estimated to reach US$ 145.20 Bn by 2027 from US$ 102.00 Bn in 2018. The report includes key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

Although global economic growth is estimated to surge in aggregate during the forecast period, this covers a broad range in regional as well as country-level performance. Economic activity in the developed economies is anticipated to grow at a similar pace as they were during the past five years, with moderate slowdowns in the US and Japan, being compensated by sturdier growth in the Eurozone. The latter is expected to support incoming demand for air cargo into Europe on the major trade lanes between North America and Asia.

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Moreover, airports is the ASEAN countries are amongst the fastest growing globally, with shifting of manufacturing facilities into the region. This shift is attributed to increasing manufacturing costs in China, and concerns related to unstable trade relations between the US and China. ASEAN economic ministers have also signed an agreement for supporting the acceleration of cross-border e-commerce among ASEAN members. With the expected growth in ASEAN air cargo market, Turkish Cargo announced addition of freighter routes to Vietnam from Europe to its flight network. For this, the company acquired three of the freighters since 2017. Southeast Asia is a promising region for the air cargo market however, there are concerns among the air cargo operators related to the bandwidth the region can deliver for freighter operations if the economies do not adequately develop their infrastructure and policies.

With the constant increase in the demand for air cargo, several players operating in the supply chain are significantly investing to efficiently compete in the market. Moreover, with the growing demand for air cargo from the pharmaceutical industry, the market players are making necessary strides in technology to cope up the fast-growing pharmaceuticals market demand. Some of the key players operating in the air cargo market includes FedEx Express, UPS Airlines, DHL Aviation, Emirates, Cathay Pacific Airways, Korean Air Cargo, Lufthansa, Singapore Airlines Cargo, China Airlines, British Airways, Cargolux, ANA CARGO, and Zela Aviation The Air Charter Company among others.

The report segments the global air cargo market as follows:

1.1.1 Global Air Cargo Market – By Type

- Air Mail
- Air Freight

1.1.2 Global Air Cargo Market – By Service

- Express
- Regular

1.1.3 Global Air Cargo Market – By End-user

- Retail
- Pharmaceutical & Healthcare
- Food & Beverage
- Consumer Electronics
- Automotive
- Others

1.1.4 Global Air Cargo Market – By Geography

- North America
o U.S.
o Canada
o Mexico

- Europe
o France
o Germany
o Italy
o Spain
o UK
o Rest of Europe

- Asia Pacific (APAC)
o China
o India
o Australia
o Japan
o Rest of Asia Pacific

- Middle East and Africa (MEA)
o Saudi Arabia
o UAE
o South Africa
o Rest of MEA

- South America
o Brazil
o Rest of South America (SAM)

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