Global Airfreight Forwarding Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. Airfreight forwarding represents 1% of global trade by volume and 35% by value of global goods distribution network. The airfreight forwarding industry has major customers distributed across many verticals.
The global airfreight forwarding market to grow at a CAGR of 3.49% during the period 2017-2021.
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The latest trend gaining momentum in the market is rising demand for integrated services. Freight forwarders provide customers with a wide range of integrated services. This includes not only the usual transport of cargo from source to destination but also a range of other services. These services include customs brokerage while exporting and importing, origin consolidation and destination deconsolidation services such as supporting government inspections, transloading, and contract logistics services.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Key vendors of Airfreight Forwarding Market
• Deutsche Post DHL Group
• Kuehne + Nagel
• DB Schenker
• NIPPON EXPRESS
• UPS Supply Chain Solutions
• DSV
• Sinotrans
• Expeditors
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According to the report, one of the major drivers for this market is increase in trade agreements among nations. The resurgence of the global economy has resulted in the increased trade volumes between countries. The increasing imports and exports between nations have lowered the trade barriers because of the relaxation of government trade policies. Favorable government trade policies have resulted in an increased demand for freight forwarding services to keep pace with the increased freight transportation needs of importers and exporters. This provides an immense opportunity for the existing vendors to expand their base globally.
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Further, the report states that one of the major factors hindering the growth of this market is increase in reshoring and nearshoring manufacturing. Manufacturers are reconsidering their offshoring policies. The advantages that drove offshoring, such as low labor and overhead costs, are diminishing rapidly, and companies are, therefore, shifting toward reshoring and nearshoring. Reshoring is the process of bringing offshore production back to the home country.
The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
Airfreight Forwarding Market Driver:
• Increase in trade agreements among nations
• For a full, detailed list, view our report
Airfreight Forwarding Market Challenge:
• Increase in reshoring and nearshoring manufacturing
• For a full, detailed list, view our report
Airfreight Forwarding Market Trend:
• Rising demand for integrated services
• For a full, detailed list, view our report
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