IATA Predicts Very Bright Future For Air Cargo Players
IATA has revealed the forecast for the airline industry for 2014-2018. According to the latest report, freight volumes in global terms will plausibly rise to compound annual growth rate (CAGR) of 4.1 per cent. The figure has been predicted for the next half decade span. The Middle East and Africa are the most well prone economies that will see growth. In the current year, air transport has been responsible for transporting above 35 per cent of the total volume for world trade.
The production signals ample improvement in terms of market performance. The current figure for world trade stands at 6.8 trillion dollars. The only risk in the path of air cargo niche growth is the slew of trade restrictions that the governments of G20 countries have implied. The major target that air cargo players have set for themselves is reduction in the overall transit time for cargo to 2 days or 48 hours, by the year 2020.