A report recently published by Boeing Aerospace states that goods transported by air will double in the next 20 years, at an approximate rate of 4.2% per year.
It’s expecting it’s total fleet will rise from 1,670 to 3,260 – converting more than 1,600 planes that are currently used for passenger transport and manufacturing over 900 new freighters.
E-commerce is one of the main reasons for this growth; sales are expected to reach $2.8 trillion by the end of this year alone. Goods such as perishables, electronics and pharmaceutical products “are some of the fastest growing trade flows around the world” Boeing said in it’s report. China is now the largest e-commerce market in the world, rapidly overtaking the US which is second.
Additionally, goods that are usually shipped by air have higher growth rates than large or heavy products that are typically transported by sea, train or road. “The computers and electronics equipment commodity group, a major source of air cargo traffic, was the fastest growing in 2017” the report stated.
Darren Hulst, Managing Director of Market Analysis and Sales at Boeing explained “the air cargo market continues to be a major element of commercial aviation’s growth strategy. Our new forecast indicates strong long term air cargo trends, which coincide with the market recovery that we have seen over the last few years across Europe, North America and Asia”.
AGI Global are ideally placed to assist companies looking to utilise airfreight services. With direct connections to HMRC for comprehensive clearance services and a worldwide network of agents utilising weekly consolidations, AGI are able to handle import and export airfreight shipments efficiently across the globe whether door to door or arrival airport.
Please contact us to discuss your requirements.