On a Growth Trajectory
Welcome to the revamped edition of ACAAI Newsletter.
From Icarus to Amelia Earhart, there can be no doubt our passion to conquer the skies has been unhindered by the passing of time. Whether it's the mechanical poetry of the early radial engine or the raw power of the modern day turbine, the excitement of air travel awakes the passion of intrepid explorer in us all. And the trigger that sets all this in motion is the urge for `Change`.
The domestic air freight has been growing in double digits since last six months, as India recovers from the economic slowdown, Air freight volumes are up 12 per cent from the December low point, helped by improving Asia-Pacific economics. This is a positive indicator for the global economy and good news for cargo facilities.
A doubling of the world's freighter fleet over the next 20 years is also being forecasted (Air Cargo Management Group's [ACMG] recent report) even as the industry takes a near-term hit from the global economic crisis. ACMG has predicted that some 3,472 freighters will be needed for growth and replacement from 2009 through 2028 “with [a] continuing shift to wide bodies".
This reflects a baseline growth of 6per cent annually or about 170 freighters per year. Besides, Trans-Pacific air freight, with roughly 7per cent annual growth, "will be as large in 2028 as the total global international market is today while the intra-Asia air freight market "will be as big as the combined trans-Pacific and transatlantic markets are now".
Since the freight forwarding and logistics sector in India is still in disarray, the time is ripe for the leading players of this un-organized sector to gather under one platform to recognize its true might and seek industry status, a status that has been eluding this vibrant sector despite its immense contribution to the government exchequer all these years.
Keeping in view the principal objective of the Air Cargo Agents Association of India and also looking at the wide and vital role that Air freighter logistics sector plays in the economic development of the nation, a change in the ACAAI newsletter format, with regard to news content, style, and presentation was necessitated since we feel the time is ripe to unleash an universal magazine platform for the Air cargo players, both global and local, that would help build a healthy, prosperous and self sufficient world by networking the best minds in different stream of business, culture and education.