Air cargo is any property carried or to be carried in an aircraft. Air freight includes air freight, air express and airmail.
Air cargo market in Asia Pacific is expected to grow from US$ 37.63 Bn in 2019 to US$ 59.13 Bn by the year 2027. This represents a CAGR of 5.2% from the year 2020 to 2027.
The Asia Pacific Air Cargo market is growing along with the Automotive and Transportation industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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China is anticipated to lead the air cargo market across the Asia Pacific region through the forecast period. China holds a position of world’s utmost prominent manufacturer of shoes to heavy machinery. China is a global leader in the manufacturing of passenger cars and commercial vehicles, as well as electronic product assembly. China has become the world’s premier manufacturing center, with industries producing commodities such as computing equipment, electronic gadgets, apparel, and others. Most of the produced goods are exported and are transported by air.
These factors are expected to offer broad growth opportunities in the Automotive and Transportation industry and this is expected to cause the demand for Air Cargo assays in the market.
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Asia Pacific AIR CARGO MARKET SEGMENTATION
• Air Mail
• Air Freight
• Pharmaceutical & Healthcare
• Food & Beverage
• Consumer Electronics
• Rest of Asia Pacifi
• ANA Cargo Inc. (ANA Group)
• Lufthansa Cargo AG
• United Parcel Service of America, Inc.
• Etihad Cargo
• FeDex Corportion
• Cargolux Airlines International S.A.
• DHL International GmbH
• Emirates SkyCargo
• Cathay Pacific Cargo
• Zela Aviation The Air Charter Company
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