This commentary appeared in the print edition of the Jan. 6, 2020, Journal of Commerce Annual Review and Outlook.
Air freight is at the center of our modern global economy and is a long-term growth industry.
Air freight is a catalyst for international trade. It provides efficient access to markets. It is driving increased innovation in supply chains. And it is a powerful contributor to global economic and social development.
Despite current macroeconomic issues and trade challenges, global air freight traffic is expected to double in size over the next 20 years. As it does, it will drive a continuing increase in connectivity between developed and developing countries, triggering opportunities for economic growth and social transformation in local communities that otherwise would not be in reach.
Close to $7 trillion worth of goods is currently moving by air freight, and that number is growing. Looking ahead, the global consuming class will grow to 6 billion people by 2025, and their consumption is expected to surpass $30 trillion. To meet existing and future demand, many manufacturers are also shifting production to new localities and establishing related new supply chains, providing additional opportunities for air freight.
Today’s customers value and expect the convenience, product access, selection, and price transparency that e-commerce provides. Together, the fast-growing express and e-commerce markets have led to an increase in demand for dedicated freighter networks providing the reliable, timely service that businesses and consumers desire and have come to expect.
To navigate the current headwinds and to achieve long-term success requires the right air freight platform: One with scale and scope. Driven by a talented team of employees focused on customers. With a strong portfolio of assets and service offerings that drive fleet flexibility, network efficiency, and an expanded market presence.