Market Trends of United States Chartered Air Freight Transport Industry
Growing demand for cargo charter services
A rapid rate of business globalization is taking place. Products are now bought, sold, and shipped globally digitally. Worldwide demand for cargo charter services has surged as a result of this. As opposed to ordinary logistics containers, it is a popular option for shipping oversized and challenging-to-fit products.
Its delivery services are quicker and more effective, which benefits customers. The booming e-commerce industry has increased demand for cargo charter services, possibly on a global scale.
The demand for these services from the commercial sector is increasing as a result of how simple it is now to book charter flights, where customers may schedule routes, the timing of the trip, the day of the flight, and other factors to suit their comfort.
Additionally, with rising disposable income in both established and developing economies, the industry is expected to grow appropriately in the upcoming time.
Demand for air charter services has increased as a result of the enormous growth of the e-commerce industry. As cargo charter services are demonstrated to be helpful for the e-commerce industry to effectively serve the global market and operate as a promising choice to supply the unexpected demand for goods over the border, they are also useful for the industry as a whole. This has resulted in a considerable increase in demand for air charter services all over the world.
Technological advancements in chartered air freight boosting the market
The US in-flight internet and entertainment in narrowbody aircraft is anticipated to reach 1.64 billion dollars by 2025.
The majority of travelers are ready to pay for onboard entertainment and, more specifically, connectivity services. Airlines can now provide internet connection services in addition to in-flight entertainment offerings as the technology revolution continues.
Although this market has not yet reached its peak, it is anticipated that it will continue to expand over the next years. By 2023, the Americas will receive roughly 40% of the IFEC's revenue.
This market in North America is anticipated to expand steadily over the next years and surpass 3.2 billion dollars in value.
Today, cargo may convey information about itself even before leaving the source, breaking down information walls, thanks to the power of technology and data. As part of its Ultra Track cargo tracking service, Cathay Pacific Cargo, for instance, has installed Descartes CORE Tracking's Bluetooth Low Energy (BLE) readers, tags, and network at numerous airports around the world.
Cathay Pacific improved the customer experience while lowering operating expenses by providing near real-time visibility into cargo status and location for airport-to-airport moves of high-value commodities.
Digitalization and similar technologies are essential to the future of air cargo because they show how the ecosystem must integrate, share, and exchange high-quality data. This will enable all solutions to operate at their peak efficiency and result in real process efficiencies.
