The international Air Transport Association (IATA) Airline Industry Forecast 2014-2018 shows that international freight volumes are expected to grow at an average of more than 4% for the next five years.
Emerging economies such as Middle East and Africa will be the fastest-growing.
Tony Tyler, IATA’s Director General and CEO however warned that the air cargo industry cannot afford to be complacent as the overall risks to the economic outlook, and therefore to air freight, remain towards the downside. Trade protectionism is also a constant danger.
To enhance air cargo competitiveness, the industry is aiming to cut average transit times by up to 48 hours by 2020. To achieve this, air freight is modernizing its processes, improving quality and reliability, and widening the range of services offered.
The first step to modernizing process is to adopt e-Air Waybill (e-AWB). The global e-AWB penetration target for 2014 is 22% and is reaching 19.9% in September 2014.
Please refer IATA for the full content of the Press Release.
Contact Global Logistics System, IATA’s Strategic Partner, for assistance in implementing e-AWB for airlines and freight forwarders.