A quick and effective way to ship things is through air freight, which is the transportation of commodities via airplane. This approach has special benefits for valuable or time-sensitive cargo. Shipments are loaded into aircraft and flown to their destinations along pre-established air routes in the case of air freight. Shippers, airlines, and freight forwarders are some of the parties involved in the process that handle the logistics. Due to its famed speed, air freight makes it possible to transport products over great distances quickly. For sectors where prompt delivery is critical, such as manufacturing, technology, and perishable items, it is essential. Even though air freight is typically more expensive than other shipping options, firms looking for quick and secure cargo transit choose it because of its advantages in terms of speed and dependability.
According to SPER Market Research, ‘Vietnam Air Freight Market Size- By Service, By Destination, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’, states that the Vietnam Air Freight Market is estimated to reach USD XX billion by 2033 with a CAGR of XX%.
The air freight business is driven by the demand for time-sensitive items in the region. Air cargo services are required since, businesses need quick shipping solutions. A major factor in the market's expansion is the rapidly expanding e-commerce industry. The need for air freight services is fuelled by businesses' efforts to match consumer expectations for quick deliveries, which is encouraged by the continued success of online retail. Supply chain management and technological developments have improved the effectiveness of air freight services, increasing their appeal to companies looking for seamless regional connectivity. In addition, the widespread adoption of inventory methods by various businesses highlights the importance of air freight by offering a prompt and flexible way to satisfy varying demand.
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The industry has obstacles such as elevated operating expenses and inadequate infrastructure, which impedes the growth of the delivery and expedited delivery sectors. The cost of logistics in Vietnam is much more than usual. Furthermore, transportation expenses make up a sizable portion of these overall logistics costs. This figure is double that of other nations, where the cost of transportation usually makes up between 30 and 40 percent of the entire cost of logistics. This has a major impact on the development and effectiveness of Vietnam's logistics and distribution market, especially when combined with the difficulties caused by inadequate infrastructure. Vietnam is concentrating on investing in technology and modernizing its infrastructure to enhance the management of freight transportation.
The Covid-19 pandemic caused interruptions to Vietnam's air freight business in terms of worldwide logistics and air cargo problems. The industry saw a sharp decline in the market for air freight due to supply chain issues brought on by travel restrictions abroad. Vietnam's air freight industry shown resilience and adaptability in the face of the setback throughout the recovery period. The industry was compelled to change due to a decrease in passenger flights, which resulted in increased air freight prices and global supply chain limitations. Vietnam's international air freight sector demonstrated its resilience by experiencing a notable increase in business compared to the previous year, indicating its capacity to thrive in challenging circumstances.
The largest market share for Vietnam Air Freight Market is held by Ho Chi Minh City, due to its role as a major economic and logistics hub. Air Cargo Services Company (ACS), BSS Logistics, Bull Lines Group, Duc Viet Cargoteam and Empire-Group Co. are few of the major names in the market.
For More Information, refer to below link:-
Vietnam Air Freight Logistic Market Analysis
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