◆英語タイトル：Latin America Air Freight Industry - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
The Latin America Air Freight industry is expected to exhibit a CAGR of over 3% during the forecast period. Commercial air transport of cargo in the Latin America region has undergone enormous changes in the recent decade, owing to factors such as exponential consolidation of the low-cost airline model and ever more demanding safety and environmental requirements. The substantial growth in the market has put enormous pressure on airport infrastructure, making operations more complex and requiring greater investment in both physical and technological infrastructure to optimize its use and provide suitable services for both passengers and cargo.
The air trade in Latin America is growing with new capacity introduction and demand for fresh Latin American perishable goods from across the globe. However, the archaic regulations and slow growth in infrastructure are hindering the continent from realizing its full potential. Economic instability coupled with widely divergent travel restrictions, newly imposed taxes and a lack of government financial aid will make for a rather uneven recovery from the downturn driven by the COVID-19 pandemic.
While Central and South America have made significant progress in the improvement of the processes and infrastructure in and around airports, there is much more work to be done. Latin America’s regulatory environment is multifaceted and outdated, and that is deterring the rapid clearance of cargo. Many countries still requiring signatures, stamps, and associated fees on export shipments. Fragmented logistics chain with delays, infrastructure constraints, inadequate ground services, complex customs process, regulatory restrictions are the main challenges that increase transit time and create inefficiencies in the supply chain. This under-investment into the infrastructure and digitization by many stakeholders, including customs authorities throughout the region, causes the entire supply chain to suffer.
Key Market Trends
Growth of E-Commerce Driving the Air Freight Market
As per a recent report by DHL, cross-border e-commerce is one of the major opportunities for logistics providers due to the lower density of physical retail space, limited product availability, high penetration of smartphones and purchase savings throughout the region. The industry is in a continuous innovation process to leverage the latest technologies and develop fraud protection solutions, authentication technologies that allow key players including, merchants and banks to ensure online shoppers are who they say they are, by leveraging solutions including biometric data for identity authentication. Several factors are behind this growth, and the two most important are the large numbers of millennials coming of age and making purchases, along with the massive proliferation of smartphones.
Retailers are partnering with delivery platforms to cover demand. In Chile, a passenger transportation firm is seeking to partner with supermarkets, as airport taxi services accounted for over 40% of revenues that have dried up.
Steps toward greater trade assimilation include the United States Mexico Canada (USMCA) and the EU-Mercosur agreements signed in 2020. Both could have substantial positive effects on growth of the e-commerce market, the demand of faster deliveries; boosting the air freight market.
Brazil Evolving as an Important Market for the Growth in Air Freight Industry
Brazil’s assistance of air cargo through its customs’ and borders’ regulations ranks 52nd out of 135 countries in terms of the e-Freight Friendliness Index (EFFI) globally. The air cargo transportation market has grown considerably in the country, due to the various benefits it provides, such as greater speed and safety in the movement of products inside and outside the country.
Factors including the generation of new businesses through bilateral agreements, the growth of the international market, the arrival of new investments and technological innovations, in addition to the greater use of the modal by some segments of the industry were the main supporters and drivers of the market growth.
In parallel, another factor that should attract even more attention from major international players to the country is the auction of national airports. With the concessions, new investments will be made, which will bring more competitiveness and modernity to the sector as a whole. In June 2019, President Jair Bolsonaro approved a bill that restricts strict regulations on foreign air carriers in the country. This bill now allows completely foreign airlines to operate domestic flights. This bill breaks the control of more than 92% of domestic air travel in the country by the three main airlines. This decision is a crucial enabler for foreign airlines that wish to operate in the largest economy in Latin America.
The Latin America air freight industry is moderately fragmented in nature. However, the industry is dominated by some of the major players like FedEx, UPS and Emirates. The growing demand for air freight transportation services has opened new challenges for air cargo service providers. Air transport has become more expensive with the rising fuel prices, however, it is also driving a need for more efficient planes which has created a market for advanced cargo-only flights. Airlines need to focus on implementing fuel-efficient solutions and accommodate innovative technologies to provide cost-effective services.
E-commerce is also pushing air cargo towards greater visibility and transparency throughout the supply chain, with Brazil being the biggest market. Companies like Azul are focusing on the expansion of their presence in the country via collaborations and partnerships with e-retailers like Amazon.
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1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Dynamics
4.3 Government Regulations and Initiatives
4.4 Supply Chain/Value Chain Analysis
4.5 Porter’s Five Forces Analysis
4.6 Technology Snapshot and Digital Trends
4.7 Spotlight on Key Commodities Transported by Air
4.8 Elaboration on Air Freight Rates
4.9 Insights into Key Ground Handling Equipment in Airports
4.10 Review and Commentary on Standards and Regulations on the Safe Transport of Dangerous Goods
4.11 Brief on Cold Chain Logistics in Air Cargo Sector
4.12 Impact of Covid-19 on the Market
5 MARKET SEGMENTATION
5.1 By Services
5.1.4 Other Services
5.2 By Destination
5.3 By Carrier Type
5.3.1 Belly Cargo
5.4 By Geography
5.4.5 Rest of Latin America
6 COMPETITIVE LANDSCAPE
6.2 Company Profiles
6.2.1 FedEx (Federal Express)
6.2.2 United Parcel Service
6.2.3 Emirates Skycargo
6.2.6 LATAM Cargo
6.2.7 Qatar Airways
6.2.8 Azul Cargo Express
6.2.9 Kuehne + Nagel
6.2.10 IAG Cargo
6.2.11 Avianca Cargo
6.2.13 United Airlines
6.2.14 American Airlines
6.2.15 Delta Airlines
6.2.16 Copa Airlines*
6.3 Other Companies
7 KEY VENDORS, AND SUPPLIERS (AIRCRAFT MANUFACTURERS, TECHNOLOGY PROVIDERS, CARGO HANDLING EQUIPMENT MANUFACTURERS , ETC.,) IN AIR CARGO INDUSTRY
8 FUTURE OF THE MARKET
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