- Annual growth rate of 5.6% by 2011
- 10-year forecast for international air freight predicts 6.1% average growth
- Security and green issues will pull regional air freight trade below 4%
- Middle East and Africa the fastest growing regions, pushing China to third place
- Freighter fleet to grow by 3% per year over next decade
Washington, (ANTARA News/PRNewswire-AsiaNet) - OAG Analytical Services, part of Official Airline Guide, has released its third annual OAG Global Air Freight Forecast which projects trends in air freight demand and fleet for 2008-2017.
The full report goes on sale today, available at www.oag.com/go globalairfreightforecast. "Amid soaring fuel prices and economic uncertainty, the projections for the next decade reveal some light at the end of the tunnel," says Tulinda Larsen, managing director OAG Analytical Services.
The global air freight industry is wrestling with the same issues as the rest of aviation: a teetering global economy, increasing security regulations, skyrocketing fuel costs, changing currency exchange rates and environmental initiatives. The only good news, it seems, has been the liberalized air rights between China and European Union countries with the United States.
The 2008 OAG Global Air Freight Forecast reflects these underlying trends, with a return to an average annual growth rate of 5.6 percent by 2011 after a slowdown in the near term. Over the long term, OAG sees these underlying trends creating a growing demand for freighter aircraft.
The international air freight market is expected to continue to flourish, with average annual growth of 6.1 percent during the 10-year forecast period from 2008 to 2017.
Security and green issues are expected to pull down demand for regional air freight trade to 3.9 percent average annual growth.
The Middle East has emerged as the fastest growing region, pushing China to number three behind Africa in terms of growth rates. These emerging markets are posting impressive growth rates, but on a very small overall base level of air freight traffic. The trade lane between North America and China remains the largest global market for air freight.
Tulinda Larsen concluded, "Trade connecting to North America continues to dominate global air freight and other markets are feeling the impact of the U.S. economic woes. The rising cost of operations will force the industry to make tough decisions that will impact air freight capacity on a global level."
The OAG Global Air Freight Forecast 2008-2017 is available to buy for USD$1,200 from www.oag.com/go globalairfreightforecast. The report includes analysis of underlying trends; forecast of air freight traffic by trade lane; freighter forecast by aircraft type including details on conversion programs; and supporting reference data spreadsheets.
About OAG Analytical Services
OAG Analytical Services' consulting team specializes in providing value-added analysis anchored in the OAG schedules, fleet and related databases. Services include business planning; air service development; economic, market analysis and forecasting; industry issue analysis; air cargo; maintenance repair and overhaul (MRO); and expert witness. Clients rely on OAG Analytical Services' resources and skills to supplement internal staff, validate internal studies and provide independent opinions to meet government and regulatory requirements.
About OAG (Official Airline Guide)
OAG (www.oagcorporate.com) is a global flight information and data solutions company for the passenger aviation, air cargo logistics and business travel markets. It brings together buyers and sellers of air travel and transport through the management and distribution of airline product information; the supply of corporate travel planning tools; and the promotion of travel and transport products.
It is the global leader in aviation information and intelligence. The business is underpinned by its data management expertise. It is best known for its airline schedules database which feeds the world's global distribution systems and travel portals and drives the internal systems of many airlines, air traffic control systems, aircraft manufacturers, airport planners and government agencies.
OAG is part of Commonwealth Business Media (www.cbizmedia.com) a wholly owned subsidiary of United Business Media plc (www.unitedbusinessmedia.com).
SOURCE: OAG Analytical Services
Notes to Editors:
OAG Analytical Services provides all the original research to develop the forecast. The underlying data is drawn from OAG schedules, OAGback fleet data, ICAO and IATA traffic data, supported by other independent sources for fuel prices, currency values, GDP, etc.
CONTACT: Alison Pickering,
Head of Corporate Communications, OAG,
+44(0)1582-695477,
apickering@oag.com
Photo: NewsCom:
http://www.newscom.com/cgi-bin/prnh/20080522/NYTH086-a
http://www.newscom.com/cgi-bin/prnh/20080522/NYTH086-b
PRN Photo Desk:
photodesk@prnewswire.com
Web site: http://www.oagcorporate.com
http://www.oag.com/go/globalairfreightforecast
http://www.cbizmedia.com
http://www.unitedbusinessmedia.com
(UBM.L)
- 10-year forecast for international air freight predicts 6.1% average growth
- Security and green issues will pull regional air freight trade below 4%
- Middle East and Africa the fastest growing regions, pushing China to third place
- Freighter fleet to grow by 3% per year over next decade
Washington, (ANTARA News/PRNewswire-AsiaNet) - OAG Analytical Services, part of Official Airline Guide, has released its third annual OAG Global Air Freight Forecast which projects trends in air freight demand and fleet for 2008-2017.
The full report goes on sale today, available at www.oag.com/go globalairfreightforecast. "Amid soaring fuel prices and economic uncertainty, the projections for the next decade reveal some light at the end of the tunnel," says Tulinda Larsen, managing director OAG Analytical Services.
The global air freight industry is wrestling with the same issues as the rest of aviation: a teetering global economy, increasing security regulations, skyrocketing fuel costs, changing currency exchange rates and environmental initiatives. The only good news, it seems, has been the liberalized air rights between China and European Union countries with the United States.
The 2008 OAG Global Air Freight Forecast reflects these underlying trends, with a return to an average annual growth rate of 5.6 percent by 2011 after a slowdown in the near term. Over the long term, OAG sees these underlying trends creating a growing demand for freighter aircraft.
The international air freight market is expected to continue to flourish, with average annual growth of 6.1 percent during the 10-year forecast period from 2008 to 2017.
Security and green issues are expected to pull down demand for regional air freight trade to 3.9 percent average annual growth.
The Middle East has emerged as the fastest growing region, pushing China to number three behind Africa in terms of growth rates. These emerging markets are posting impressive growth rates, but on a very small overall base level of air freight traffic. The trade lane between North America and China remains the largest global market for air freight.
Tulinda Larsen concluded, "Trade connecting to North America continues to dominate global air freight and other markets are feeling the impact of the U.S. economic woes. The rising cost of operations will force the industry to make tough decisions that will impact air freight capacity on a global level."
The OAG Global Air Freight Forecast 2008-2017 is available to buy for USD$1,200 from www.oag.com/go globalairfreightforecast. The report includes analysis of underlying trends; forecast of air freight traffic by trade lane; freighter forecast by aircraft type including details on conversion programs; and supporting reference data spreadsheets.
About OAG Analytical Services
OAG Analytical Services' consulting team specializes in providing value-added analysis anchored in the OAG schedules, fleet and related databases. Services include business planning; air service development; economic, market analysis and forecasting; industry issue analysis; air cargo; maintenance repair and overhaul (MRO); and expert witness. Clients rely on OAG Analytical Services' resources and skills to supplement internal staff, validate internal studies and provide independent opinions to meet government and regulatory requirements.
About OAG (Official Airline Guide)
OAG (www.oagcorporate.com) is a global flight information and data solutions company for the passenger aviation, air cargo logistics and business travel markets. It brings together buyers and sellers of air travel and transport through the management and distribution of airline product information; the supply of corporate travel planning tools; and the promotion of travel and transport products.
It is the global leader in aviation information and intelligence. The business is underpinned by its data management expertise. It is best known for its airline schedules database which feeds the world's global distribution systems and travel portals and drives the internal systems of many airlines, air traffic control systems, aircraft manufacturers, airport planners and government agencies.
OAG is part of Commonwealth Business Media (www.cbizmedia.com) a wholly owned subsidiary of United Business Media plc (www.unitedbusinessmedia.com).
SOURCE: OAG Analytical Services
Notes to Editors:
OAG Analytical Services provides all the original research to develop the forecast. The underlying data is drawn from OAG schedules, OAGback fleet data, ICAO and IATA traffic data, supported by other independent sources for fuel prices, currency values, GDP, etc.
CONTACT: Alison Pickering,
Head of Corporate Communications, OAG,
+44(0)1582-695477,
apickering@oag.com
Photo: NewsCom:
http://www.newscom.com/cgi-bin/prnh/20080522/NYTH086-a
http://www.newscom.com/cgi-bin/prnh/20080522/NYTH086-b
PRN Photo Desk:
photodesk@prnewswire.com
Web site: http://www.oagcorporate.com
http://www.oag.com/go/globalairfreightforecast
http://www.cbizmedia.com
http://www.unitedbusinessmedia.com
(UBM.L)
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