Air Cargo Services Market Forecast To Decline

The Business Research Company’s air cargo services global market report covers the year-on-year growth of the global air cargo services market historic and forecast growth. It also includes chapters on the air cargo services market trends, geographical analysis, and competitive landscape.

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https://www.thebusinessresearchcompany.com/report/air-cargo-services-global-market-report

The air cargo services market size is expected to decline by 2022, at a CAGR of more than 1% during the forecast period.

Air Cargo Services Market Trends
The air cargo transportation services market consists of sales of air cargo transportation services by entities (organizations, sole traders and partnerships) that use aircraft, such as airplanes and helicopters to provide air transportation of cargo and mail on a contract basis over fixed international routes.

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.
The global air cargo services market is primarily restrained by economic slowdown in countries such as Brazil, Spain, Portugal, Ireland, Slovakia, and Russia, and changes in trade agreements between the bordering countries of North America (NAFTA agreement).

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The global air cargo services market report covers the following regions under the geographical analysis section: Asia Pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country analysis chapters.

With increasing competition from new players and other substitute transportation modes such as road cargo transportation and rail cargo transportation, the global air cargo services market is expected to decrease in potential and scope. TBRC’s report also covers the air cargo services drivers and restraints in the market.

The global air cargo services market’s segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.

The top companies included in the global air cargo services market report are Cathay Pacific Cargo, FedEx, The Emirates Group, United Parcel Service, and DHL Aviation.

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