Is the air cargo industry growing?
2021 as a whole was a strong year for air cargo, with volumes growing by 18.7% year-on-year, the best annual performance since our series started in 1990. CTKs were 3.5% above the previous peak year of 2018. That came after a 9.9% year-on-year fall in CTKs in 2020, the largest decline in the time series.
How big is the air cargo market?
The global air freight market was valued at $270.2 billion in 2019, and is projected to reach $376.8 billion by 2027, registering a CAGR of 5.6%.
What percentage of cargo is transported by air?
Air freight built a reputation for getting bulky, expensive goods from A to B as quickly as possible. Even today, the $6.8 trillion worth of goods transported by air cargo every year represents 35 percent of international trade by value but only 0.5 percent of total volumes.
How many cargo planes are there in the world?
While the active global commercial fleet currently stands at 25,368 aircraft, the next 10 years will see 3.4% net annual growth, increasing the number to 35,501.
What is cargo tonne kilometres?
A tonne-kilometre, abbreviated as tkm, is a unit of measure of freight transport which represents the transport of one tonne of goods (including packaging and tare weights of intermodal transport units) by a given transport mode (road, rail, air, sea, inland waterways, pipeline etc.) over a distance of one kilometre.
Why air freight is increased?
“Air cargo demand grew 9.1% in September compared to pre-COVID levels. There is a benefit from supply chain congestion as manufacturers turn to air transport for speed. But severe capacity constraints continue to limit the ability of air cargo to absorb extra demand.
What is the demand for cargo?
IATA has released data for global air freight markets showing that full-year demand for air cargo increased by 6.9% in 2021. This figure compared to 2019 (pre-covid levels) and 18.7% compared to 2020 following a strong performance in December 2021.
What is air freight used for?
Air Freight, also known as air cargo, is the mode of transport used to transport cargo swiftly by air. Airfreight is the most valuable form of transport when shipping or transporting goods in the fastest time around the globe. Air cargo is shipped through the same gateway as the passenger or commercial airlines.
How much cargo is transported by air each year?
In terms of freight tonnes, there was a growth of 9.8 per cent, with a total load of 37.0 million tonnes during 2017, while there were 33.7 million tonnes loaded in 2016. In 2017, demand (FTKs) grew 10.4 per cent, totaling 194.3 billion. The good 2017 for air cargo is also reflected in airports performance.
How much cargo is transported by air a year?
Following somewhat slow growth in the early 2010’s, the global volume of air freight increased rapidly in recent years with freight volumes reaching 66.2 million metric tons in 2021. The air cargo market refers to the transportation of goods via air, either by commercial airlines or specialized freight companies.
What company has the most cargo planes?
FedEx is the world’s largest cargo airline, operating 688 planes and ordering an additional 67. Hundreds of cargo airlines operate all over the world, all with the same goal in mind: to transport cargo. Note: The Largest Cargo Airlines in the list are Ranked on the Total Fleet Size of the Airline Companies.
What is FTK in air freight?
Freight Tonne Kilometres. The equivalent of RPK for freight. One FTK is one metric tonne of revenue load, carried one kilometre. The sum of FTKs for every segment flown by every aircraft over a specific period is the FTK of an airline over that period.
What is CTK in air freight?
“CTK – Cargo tonne kilometres”. 3 July 2022. Web. 3 July 2022.
What factors affect cargo transportation by air?
Factors affecting air freight rates
- Manpower. The manpower used in air freight is one factor that affects shipping rates.
- Air freight containers. The containers used for shipping through air freight are also another factor determining rates.
- Speed of shipping. Speed is a vital factor affecting air freight shipping rates.