LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global air cargo market report. This research report also lists 12 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
The global air cargo market is complex and fragmented with vendors operating in a variety of arrangements. Asset-based operators such as combination airlines, all-cargo airlines offering scheduled and chartered services, and integrated express carriers own and operate their equipment. There is competition among these three types of operators.
Combination airlines are passenger airlines that transport cargo in the airplane's lower hold. Integrated express carriers dominate the global air cargo market, but all-cargo airlines are expected to play a significant role in the future. Integrated express carriers such as Deutsche Post DHL, UPS, and FedEx are also expanding their global services, especially in APAC. These companies have been following inorganic growth strategies and have grown through a series of acquisitions.
Sharan Raj, a lead analyst at Technavio for logistics, says, “There is considerable fragmentation in the market because of the presence of shippers, forwarders, consolidators, and airlines. Increased focus on freight consolidation to reduce the cost of air freight is leading to a concentration in the market. This will boost the use of all-cargo airlines and integrated express carriers as they offer freight forwarding, consolidation, and delivery services.”
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Top five air cargo market vendors
Cathay Pacific Cargo
Cathay Pacific Cargo, a subsidiary of Cathay Pacific Airways, was established in 1981 and is headquartered in Hong Kong International Airport, Hong Kong. The company offers freighter services to multiple locations such as Amsterdam, Hong Kong, New York, Paris, Mexico, Singapore, and Tokyo.
- September 16, 2014: Launches a new service called Wine LIFT for the transportation of wines
- July 16, 2014: Introduces a new biweekly freighter service to Calgary, Alberta, Canada
- February 27, 2014: Introduces a new biweekly freighter service to Columbus, Ohio, US
- February 4, 2014: Introduces freighter services to Mexico City
The Emirates Group was founded in 1959 and is headquartered in Dubai, UAE. The company provides air services and is one of the largest travel management services company in the UAE. It engages in cargo and ground handling, information technology, and catering and travel services.
The Emirates Group operates through three segments:
- Airline: This segment provides commercial air transportation services like passenger and cargo services
- In-flight catering: This segment provides in-flight and institutional catering services
- Others: This segment provides wholesale and retail consumer goods, food and beverage, and hotel operations
FedEx was established in 1971 and is headquartered in Memphis, Tennessee, US. The company offers a broad portfolio of services pertaining to transportation, e-commerce, and business delivery.
FedEx influences and expands its brand image by providing its customers with a wide range of portfolio of services in the logistics industry. Some of the key services of the company include FedEx office, FedEx freight shipping, FedEx ground, FedEx express, shipping, pick-up, shipment tracking, and invoicing services.
Korean Air was founded in 1969 and is headquartered in Seoul, Korea. The company focuses on cargo and passenger transportation, production and maintenance of aircraft and aircraft parts, catering of in-flight meals, and limousine transportation along with offering hotel services.
As of December 2015, the company has 158 number of fleets along with its routes being located in 129 destinations in 46 countries worldwide. It has generated a revenue of USD 10.83 billion and USD 11.31 billion for the year ending December 2013 and 2014.
UPS was founded in 1907 and is headquartered in Atlanta, Georgia, US. The company focuses on offering logistics, transportation, and financial services to its customers located in the US and across various other international markets. It also provides supply chain control and visibility, billing technologies, and shipping; as well as financing, insurance, and payment services.
As of December 2015, the company has approximately 444,000 employees in all its offices worldwide. It has also generated revenue of USD 58.36 billion for the FY2015.
Browse Related Reports:
- Global Airfreight Forwarding Market 2015-2019
- Global Intermodal Freight Transportation Market 2015-2019
- Global Refrigerated Transportation Market 2016-2020
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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