UAE Air Cargo Will Rank 3rd Globally By 2018: Iata
Here is some brilliant scoop following data analysis and research by the International Air Transport Association (Iata). With the rapid growth seen in the aviation sector in UAE and with ample contribution from Dubai World Central in UAE, the country will soon rank third in terms of being the largest market for air cargo in the next four years.
Together with China and USA, UAE is set to add freight tonnage that crosses the 1 million mark. In fact, UAE will replace Germany when it attains third rank by 2018, in this niche. As per tonnage rating, here is the list of countries ranked in order:
Republic of Korea
Even better news is that the Middle East region is predicted as the one with the most rapid growth. Its CAGR stands at 4.7 per cent between now and 2018. The area is followed by Africa and Latin America and Asia-Pacific regions with CAGR of 4.4 per cent and 3.8 per cent respectively. Globally, the freight volumes are set to see upswing to stand at CAGR of about 4.1 per cent. Middle East along with Africa is among the regions set to see maximum growth due to their strategic locations and conducive air cargo movement facilities. Tony Tyler, The CEO and Director General of IATA said, “Air cargo is seen as very vital to our global economic chain. In 2014 alone, goods worth above $6.8 trillion will see transport around the world via air."