DUBLIN--(BUSINESS WIRE)--The "Asia Pacific Air Cargo Market to 2027 - Regional Analysis and Forecasts by Type; Service; and End User" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific air cargo market accounted for US$ 37.63 Bn in 2018 and is expected to grow at a CAGR of 5.2% over the forecast period 2019-2027, to account for US$ 59.13 Bn in 2027.
The rapid growth of the e-commerce sector in the region and rising demand from the temperature-sensitive product are the key driver that is propelling the growth of the air cargo market. Moreover, the airport infrastructures in Southeast Asian countries are supporting national carriers to expand air freights, which in turn is expected to boost the air cargo market growth in the forecast period.
Air cargo stakeholders have a tremendous opportunity in Southeast Asian countries such as Singapore, Thailand, Indonesia, and others. Southeast Asian country's airports are the fastest growing airports in the world. In November 2018, The Association of Southeast Asian Nations' (ASEAN) economic ministers signed an agreement to support the facilitation of cross border e-commerce between ASEAN members. Turkish Cargo is increasing its presence with the launch of new freighter services.
The airports of Singapore, Incheon, and Hong Kong, Taiwan are supporting national carriers to expand air freights in ASEAN countries and also encouraging operators to increase services. With these initiatives, it is expected to reduce the trade with China and grow in some transfer cargo traffic in Taiwan form ASEAN.
Companies such as APEX Logistics and SEKO Logistics are strategically expanded its operations in Southeast Asian countries. With the developing policies and infrastructure, it is expected that Southeast Asian countries will exhibit huge opportunity for air cargo vendors during the forecast period. The air cargo market players are focusing on various initiatives to enhance its reach to rural areas and boost its position in the market.
Some of the players present in air cargo market are
5.1.1 Rapid Growth of E-Commerce Sector in the Region is Propelling the Air Cargo Market
5.1.2 Rising Demand from Temperature-Sensitive Product
5.2.1 The Market Uncertainty is Expected to Hinder the Air Cargo Market Growth
5.3.1 The Airport Infrastructures in Southeast Asian Countries are Supporting National Carriers to Expand Air Freights
5.4.1 Real-time Visibility Through Deployment of Several Software Solutions
6.2 Asia Pacific Air Cargo market Forecast and Analysis
7. Asia Pacific Air Cargo Market Analysis - By Type
7.2 Asia Pacific Air Cargo market Breakdown, By type, 2018 & 2027
8. Asia Pacific Air Cargo Market Analysis - By Service
8.2 Asia Pacific Air Cargo market Breakdown, By Service, 2018 & 2027
9. Asia Pacific Air Cargo Market Revenue and Forecasts to 2027 -End-User
9.2 Asia Pacific Air Cargo MARKET Breakdown, By End-User, 2018 & 2027
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