Air freight transportation service market forecast to decline

Press Release   •   Aug 06, 2012 11:49 BST

The air freight transportation service market has been forecast to decline in growth rate over the five years between 2012 and 2017, which is a contrast to the five years between 2006 and 2011.

With an estimated 11,868 businesses employing approximately 259,000 members of staff, the air freight transportation service market is predicted to be worth $72 billion.

Air freight companies are going through tough times as the fuel prices have gone sky high, leading to a slow down in air cargo market growth which is resulting in shifting of business to ground and ocean transport to reduce shipping costs.

Although the markets growth rate is expected to decline, the industry has been forecast to reach an estimated value of $137 billion by 2017, recording a compound annual growth rate (CAGR) of 3% over the next five years.

Economic and manufacturing growth is driving demand for all forms of cargo transportation within the air freight transportation market.

APAC and Row markets were able to show high growth because of the ongoing infrastructure boom in APAC and the implementation of open skies policies in ROW.

The European air freight market is projected to lead the industry whereas APAC is expected to witness the highest growth rate through to 2017.

For more information on the air freight transportation service market, see the latest research: Air Freight Transportation Service Market Report

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