How big is the air cargo industry?
In 2020, the global cargo airline industry was valued at 110.8 billion U.S. dollars and is expected to reach almost 123 billion U.S. dollars in size by 2021. The leading cargo airlines worldwide include FedEx, UPS and DHL.
How much is the air cargo industry worth?
Air cargo transports over US $6 trillion worth of goods, accounting for approximately 35% of world trade by value.
Is the air cargo industry growing?
The air cargo market is soaring this year and 2022 is looking even better. The International Air Transport Association on Monday estimated that cargo volume for airlines will grow 7.9% in 2021 compared to 2019 and demand will heat up to 13.2% above pre-pandemic levels next year.
What is the importance of air cargo?
Air cargo contributes by carrying important shipments all over the world and facilitates the supply chain of, foodstuff, mail, automotive parts, electronics, flowers, vaccines, medical supplies, high-value shipments like jewelry, livestock, horses, airplane parts, and many other important shipments that support …
What is transported by air cargo?
Urgent materials such as radiopharmaceuticals for medical diagnosis or treatment or high-value goods such as technological products and high value commodities are typically shipped by air cargo. Air transport is also ideal for certain food products such as fresh fish, exotic fruits and cut flowers.
Who invented the cargo plane?
Philip Orin Parmelee
The first cargo flight took place on the 7 November 1910 in the USA, between Dayton and Columbus, Ohio. Philip Orin Parmelee piloted a Wright Model B aeroplane 65 miles (105 km) carrying a package of 200 pounds of silk for the opening of a store.
What is air cargo load factor?
The load factor is a metric used in the airline industry that measures the percentage of available seating capacity that has been filled with passengers. A high load factor indicates that an airline has sold most of its available seats and is preferred over a low load factor.
What are the 3 major threats in air transport?
The air cargo system is vulnerable to several security threats including potential plots to place explosives aboard aircraft; illegal shipments of hazardous materials; criminal activities such as smuggling and theft; and potential hijackings and sabotage by persons with access to aircraft.
What is not allowed in air cargo?
Dry ice, gasoline powered tools, wet cell batteries and camping gear with fuel. Infectious substances. Non-radioactive medicinal or toilet articles (including aerosols) such as hairsprays, perfumes, colognes and medicines containing alcohol.
Why is air cargo so expensive?
An air freight shipment is considerably more expensive than the same volume of sea freight cargo. This is mainly due to the capacity available on a plane, the higher fuel consumption, and operational costs of a plane.
What is an air cargo business?
Air cargo business is one of the few businesses that are restricted to location and of course the presence of airports and it requires core professionals to handle. It is a business that an investor with the right skills and connection can start.
What does air cargo mean?
Air cargo is any property carried or to be carried in an aircraft. Air cargo comprises air freight, air express and airmail.
How do I become an air freight forwarder?
How to Become a Freight Forwarder Ocean Transportation Intermediaries. You must have three years of documented experience working for a firm licensed as an ocean transportation intermediary in U.S. Trucking Freight Forwarders. Airfreight Freight Forwarders. Intermodal Freight.
What is air cargo market?
Air cargo are defined in two segments such as air freight and airmail. The air freight segment of the global air cargo market is expected to hold the major market share during the forecast period and is estimated to bring in revenues of nearly US$98.81 bn by the end of 2020.