DUBLIN, Ireland-- Research and Markets has announced the addition of the "Global Air Cargo Market 2012-2016" report to their offering.
The analysts forecast the Global Air Cargo market to grow at a CAGR of 5.97 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing number of online retail stores. The Global Air Cargo market has also been witnessing an increase in the number of new air routes. However, the increasing competition from surface transportation could pose a challenge to the growth of this market, said the report.
The key vendors dominating this space include Deutsche Post AG, FedEx Corp., United Parcel Services Inc., and TNT Express NV.
The other vendors mentioned in this report are Air France-KLM-Martin Air Cargo, Lufthansa Cargo AG, and Singapore Airlines Cargo Ltd.
“The Global Air Cargo market is witnessing an increase in airline research, which is resulting in the introduction of new air routes for cargo transportation purposes. This is a trend which is expected to continue over the years. Airlines are adopting the acquisitive route to enter the Global Air Cargo market to increase their revenue. Airline research has also resulted in the adoption of a new concept of dedicated cargo terminals at airports. Such terminals will be operated and maintained by cargo airlines and not by the airline that owns the airport. This concept can reduce the cost of airport operations for the airline. In this scenario, cargo airlines will use certain airports as their hub airports, from where they can transport goods and also try to capitalize on the air cargo markets in which those hubs are based,” the report said.
According to the report, the major growth driver is the increase in online retail stores. Online retail stores and fashion stores are the major revenue contributing sectors in the Global Air Cargo market. Over a period of many years these have been the major contributors to market share.