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The global freight forwarding market is expected to grow steadily with a CAGR of more than 4% during the forecast period. The growth in international trade volumes is a major driver for the freight forwarding market. Moreover, the rise in trade agreements between countries is also contributing to the growth of the market. Asia-Pacific is the fastest growing and the largest market for freight forwarding, with the Chinese freight forwarding market holding the maximum share.
Being non-asset based, the sector is facing high competition from other players in supply chain and technology-based companies which are disrupting the freight forwarding market. The market is one of the sectors that were hit the hardest by the COVID-19 outbreak in 2020. With the lockdown in many countries and a major focus on the production of essential products, the volumes of air and ocean freight have fallen significantly in 2020. However, the market is now recoverin
The Air Charter Services Market report has been added to Technavio s library which consists of more than 17000 reports from 150+ industries.
Technavio has announced its latest market research report Air Charter Services Market by Application and Geography - Forecast and Analysis 2020-2024
The air charter services market is poised to grow by USD 7.35 billion between 2020-2024, progressing at a CAGR of over 5% during the forecast period.
Due to factors like last-minute capacity, time shortages, and unforeseen applications, several companies have increased the volume of charters in cargo divisions. Moreover, the shipment of oversized products also boosts the demand for cargo charters. These factors lead to the increase in the adoption of air charter services, which in turn, drives the market.
Freight Forwarding Market SWOT Analysis By Key Players : Deutsche Post, C H Robinson, Kerry Logistics texasguardian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from texasguardian.com Daily Mail and Mail on Sunday newspapers.