Cargo Global Market to Experience Significant Growth during the Forecast Period | Key Players are Cathay Pacific Cargo, FedEx, The Emirates Group, United Parcel Service, and DHL Aviation.

Cargo Global Market Size:
The global cargo air transportation market was valued at $43.7 billion in 2017. North America was the largest geographic region accounting for $15.9 billion or 36.4% of the global market. The USA was the largest country accounting for $13.4 billion or 30.8% of the global cargo air transportation market.

Cargo Global Market Overview:
Digitization of systems has gained its popularity in the cargo transportation markets by easing the documentation process and provide integration and transparency. According to The International Air Cargo Association, the Air Waybill (AWB), a 20-step, 21-documents, is converted to an e-AWB to reduce the information re-entry to reduce wastage of time and provide efficiency. The e-AWB desktop tool was introduced to help small and medium air freight forwarders to create, send, and manage e-AWBs easily and efficiently.

North America was the largest geographic region in the market, accounting for more than one-third of the global market. The USA was the largest country accounting for one-third of the global cargo air transportation market.

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According to The Business Research Company’s Consultant, Oliver Guirdham, the use of analytics is rapidly growing in the cargo industry to capture critical insights from customers and operations data. It allows cargos to offer personalized services to its customers by using data analytics tools at every customer touch point. The growing use of analytics in the cargo industry is mainly a result of increasing competition between cargo as a result commercial airlines are looking to enhance customer satisfaction levels by analyzing parameters such as ticket sales and consumers profile and purchase history.

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Cathay Pacific Cargo was the biggest player in the cargo market, with revenues of $20 billion in 2016. Cathay Pacific’s growth strategy aims to increase awareness of climate change and to develop appropriate solutions for the aviation industry.

Cargo transportation involves the transportation of cargo by air. Scheduled international freight air transportation establishments offer air transportation of cargo and mail on a contract basis over fixed international routes. They often operate during nonpeak time slots at busy airports. Most goods transported by air are high in value related to their weight. The customers include freight forwarders and cargo handling companies. Cargo Air transport businesses revenues are mainly derived from the payments made by cargo customers, which are usually related to the volume/weight and distance transported.

Cargo Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.

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