International trade’s on-the-grow through the air, despite economic easterly and westerly headwinds, forecasts the International Air Transport Association. Global air cargo is predicted to grow at a five-year cumulative annual rate of 3 percent, and the U.S. will remain the largest single market in 2016.
Worldwide freight volume will reach 34.5 million metric tons in 2016, compared with 29.6 million tons flown in 2011, with annualized growth accelerating from 1.6 percent in 2012 to 3.7 percent in 2016.
IATA predicts the highest volume upticks in the developing markets of Sri Lanka, with a cumulative five-year annual growth rate of 8.7 percent, followed by Vietnam, 7.4 percent; Brazil, 6.3 percent, and India, 6 percent. Furthering that trend, five of the ten fastest growing markets over the next five years will be in the Middle East-North Africa region, with Egypt growing by 5.9 percent annually.
The Asia-Pacific region, which currently accounts for 40 percent of international air cargo traffic, will contribute around 30 percent of the expected total increase in tonnage over the period.
With the continuing shifting of the air cargo industry, costs associated with his mode will likely flutter wildly during the upcoming future. Cost containment is of substantial P&L concern. Consult Data2Logistics on this subject; they can help you manage spend by helping you partner with carriers for shipment schedules and rates that’ll fly with everyone.
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