15 Sep 2021 Forecasting the future of air freight is much more difficult now than in 2019. What is highly probable is that growth and market structure are likely to be quite different than previously assumed. The volume and pattern of demand are changing rapidly but so is the supply-side.
The fallout of the COVID-19 pandemic shook the aviation sector to its core. The economic crisis and travel bans and restrictions have severely hampered international transportation and the global air freight industry.
Despite the apparent decline in numbers, the cargo industry is showing signs of steady recovery. It is safe to say that, from an economic point of view, airlines with cargo-diversified revenue streams are surviving and have managed to avoid the worst of the pandemic.
The aviation industry is doing its best to adapt and ensure business survival in a changing world. Although world trade and passenger transport hit an all-time low during the main period of the pandemic.
Passenger and private cargo companies use their experience and expertise to cater to changing business requirements and emergency scenarios. From personnel repatriation to emergency evacuations — and sometimes even stepping into disrupted freight supply lines to ensure the delivery of essential goods.
Airline companies have shifted their focus throughout the pandemic and dedicated their efforts towards the successful transport of COVID-19 supplies and accommodating the exponential demand for essential COVID-19 commodities.
Cargo jets with climate-controlled facilities have seized business opportunities in freights that require highly regulated and temperature-controlled specifications, including the distribution of billions of COVID vaccines worldwide. In addition, airline companies are retrofitting their passenger planes for cargo to capture more specialized segments, especially those that require time urgency and delicate handlings, such as pharmaceuticals, PPEs, medical equipment, and perishables.
The pandemic has been broadly destructive for the aviation industry. Still, it has contributed to accelerating the global transition to e-commerce, which is set to benefit the cargo transportation industry for the foreseeable future.
The air cargo sector is demonstrating impressive flexibility and adaptability in handling the challenges and repercussions of COVID-19 in the industry. Still, from a vantage point, the future of global air freight service seems bright, and all set for growth.
The pandemic has opened new doors and opportunities for cargo. As the demand for specialized freight services and e-commerce rises, global trade will eventually regain its foothold. And the cargo industry will fly high again.
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