The air cargo market overview

Abstract

Measured by the value of goods, about one-third of all international trade is moved by air. It stands for a big chunk of the transport market and global GDP, playing a crucial role in moving products of high value in relation to their weight, but also the backbone of overnight shipping and enabling e-commerce growth. This places air cargo as very dependent on overall economic deviations. As the world slowly exits the global pandemic state, each part of the aviation industry should be subject to analyses that confirm or contradict previous forecasts, thus helping to make correct business decisions by the relevant entities in the aviation industry. The following article is devoted to the analysis of the air cargo market. As a starting point, the article shows a general overview of the world's economy by pointing out the main variables that impact demand for air cargo and presenting forecasts on some of those. General air cargo market overview is the next subject. This part shows the latest trends connected with the general aviation market and the cargo part, outlining the general look. An overview of forecasts for the aviation market, coming from aircraft manufacturers, is the last of the analytical parts of this article, describing each entity's market outlook. Presented analyses were later used to determine trends most likely to show in coming years. The accurate description of those allowed for creating a coherent forecast of the air cargo market, with the calculation of actual cargo tonne-kilometers for oncoming years using a simple, multivariate forecasting method based on creating a historical data-driven model. The article concludes with a summary that provides an overview of the covered subjects.