Cargo charter biz coasts along in year of uncertainty

According to the latest Market Research Future (MRFR) report, the global air charter services market is slated to touch $53.65 billion at a 5.8% CAGR by 2032,(denoting global aircraft charter market including passenger and cargo).

While the return of ocean freight and belly capacities may have some effect on the overall demand for cargo air chartering, verticals that have continually contributed to the growth of cargo air chartering include automotive, dangerous goods, mining/oil & gas, oversized cargo, pharma, and humanitarian sectors.

While many stakeholders believe sea freight return has had no impact on air cargo charter volumes, few believe that Q4 will give an actual indication of market conditions and that the industry will probably have to wait until 2024 for a sustained market improvement.

“In the past six months, we have identified several new air cargo charter routes in sub-Saharan and West Africa. These routes allow us to offer significant capacity on key trade lanes, enabling our customers to overcome infrastructure challenges and ensure timely delivery of their cargo.”- Tristan Caldeira, Chapman Freeborn

“For Magma Aviation, sustainability is a top priority and we will have an Environmental and Sustainability Specialist join our team in July this year to spearhead our sustainability strategy.” - Conor Brannigan, Magma Aviation

“From June 2023 we are rolling out a new end-to-end document management system to complement our platform, which was re-scoped from the ground up in 2022.” - Simon Watson, CharterSync

“The demand on key routes like China to the US and EU is projected to strengthen in late Q3/early Q4, although not as robustly as previous years.” - Eric Philip, Avric Aviation

“Traditionally, there are bottlenecks or peaks in Q3 / Q4 especially in the high-tech sector, due to new product launches and generally increased demand. We assume that this will also be the case in 2023.” - Holger Ketz, Kuehne+Nagel

“We foresee no peak in “normal” air cargo this year, and believe we will probably have to wait until 2024 for a sustained market improvement.”- Brian Davis, NEO Air Charter

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