LONDON--(EON: Enhanced Online News)--Technavio has announced the top eight leading vendors in their recent global airfreight forwarding market report until 2021. This research report also lists 17 other prominent vendors that are expected to impact the market during the forecast period.
Geographically, APAC constitutes the majority part of this market with a share of almost 52%. More than 73% of the incremental growth in this market will originate from APAC. The increase in international trade and growing economy of India, China, and Japan will be responsible for this growth in the region.
One of the most important drivers of the global airfreight forwarding market will be the increasing number of trade agreements among nations. The thriving global economy has resulted in extremely good international trade. The ASEAN nations have entered agreements with FTAs and other Asian nations, which is changing the manufacturing landscape. Other important drivers are an increased demand for time-definite shipments for perishable products and requirement for regional and local market expertise in freight transportation.
Competitive vendor landscape
“The global airfreight forwarding market is fragmented and characterized by the presence of numerous small vendors worldwide. Despite the acquisitions by large forwarders like DHL, UPS, and FedEx, the airfreight forwarding market remains without any one vendor having market monopoly. There have been considerable merger and acquisition activities in the market with forwarders trying to increase their position in the market,” says Sharan Raj, one of the lead analysts at Technavio for packaging research.
Several small enterprises have entered the market due to the low barriers to entry and compete effectively with incumbent players. The major players retaliated with the introduction of IT systems to set their products apart with better services. To complete with the large number of integrators in the market, forwarders partnered with air carriers and introduced time-definite services to offer more reliable services. Overall, this market is very competitive with vendors constantly trying to increase their foothold on the market.
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Top eight vendors in the global airfreight forwarding market
Deutsche Post DHL Group
Deutsche Post DHL is a logistics and mail communications company. It provides integrated services and tailored solutions for the processing and transport of information and goods in the global market. The company’s network spans in over 220 countries and territories worldwide. The company operates through post-eCommerce-parcel, supply chain, global forwarding freight, and express services.
Kuehne + Nagel
The company, along with its subsidiaries, provides integrated logistics services to customers in various industries worldwide. It operates through over 1,000 offices across 100 countries. The company operates through four segments, which are sea freight, airfreight, overland, and contract logistics.
The company provides its customers with advanced logistics solutions across the globe. It provides logistics services to various sectors including, aerospace, automotive, FMCG and retail, high-tech, industrials, oil and gas logistics, pharmaceuticals and healthcare. The company provides integrated logistics services such as SCM solutions, customs clearance services, export and import documentation, door-to-door services, and logistics supply movement arrangement services. Furthermore, it offers risk management and insurance services for the transport and logistics industry.
DB Schenker is an integrated logistics services provider. The company supports global industry and trade in the exchange of goods including in land transport, worldwide air and ocean freight, SCM, and contract logistics. The company is a part of Deutsche Bahn.
It caters to the automotive, beverages, building materials, consumer, chemicals, electronics, marine parts, semiconductor/solar, healthcare/pharma, industrial, metals and coal, and retail industries. The company has a presence in around 140 countries worldwide.
NIPPON EXPRESS is a freight forwarding and logistics provider. It offers a range of logistics solutions catering to various business categories and covering varied business conditions. Its offerings include airfreight, marine transport, moving service, heavy haulage, logistics design and IT, and fine arts transport.
UPS Supply Chain Solutions
UPS Supply Chain Solutions is a logistics company that provides SCM and global package delivery services. The company provides logistics services to the global market that include distribution, transportation, contract logistics, ocean freight, ground freight, airfreight, customs brokerage, financing, and insurance. It serves over 220 countries and territories worldwide.
DSV is involved in the provision of transport and logistics services. It also provides various VAS such as warehousing, SCM, customs clearance, shipment booking, and documentation and insurance. The company conducts its business operations through the air and sea segment, road segment, and solutions segment.
Sinotrans is engaged in the business of sea and airfreight forwarders, airline services, contract logistics, logistics, finance, engineering, shipping agents, and SCM.
Sinotrans is one the major players in providing logistics service. The company has undertaken various initiatives to improve its position in the market, like the strategic partnership with netEase to enhance and develop cross-border e-commerce business and provide cross-border e-commerce business solutions for fast delivery services to customers in China.
Expeditors International is a global logistics company that provides air and ocean freight, customs brokerage, order management, warehousing, distribution and customized logistic solutions. Its service offering includes supply chain solutions, transportation, customs and compliance, distribution, order management, and risk management for industries such as aviation and aerospace, healthcare, oil and energy, and retail and fashion.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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