GENEVA — The volume of global air freight is forecast to triple over the next 20 years, reflecting the growing demand for fast delivery of goods, according to a new report. Manufacturing growth in China and India will drive the expansion.
In the same period, the number of global airline passengers is predicted to double, to more than 9 billion, compared with 4.2 billion in 2005, said the study by Airports Council International, which represents 1,643 airports in 178 countries. Asia is forecast to lead the expansion in passenger volume.
“Both the scale and speed of growth indicated by this latest forecast represent a daunting challenge for airports,” said Robert J. Aaronson, ACI director general.
Asia is projected to become the world’s largest air freight market, overtaking North America, which is now the biggest with a 35 percent global share. The study said that during the next 20 years air freight would grow in the Asia/Pacific region by an average of 6.5 percent annually, surpassing the world average of 5.4 percent.
By 2025, global air freight is to reach 214 million tons, up from an estimated 76 million tons in 2005, the report said.
A separate study in ACI’s Airport World magazine focused on the trend of major fashion and luxury goods firms opening stores at major airports to tap the growing travel market.
For example, Spain’s fast-fashion chain Mango now has stores at the Kuala Lumpur, Malaysia, and Mexico City airports, and Italy’s Armani Group is seeking locations to give priority to the Emporio Armani brand.
In 2005, global airport product sales totaled $14 billion, up from $8.9 billion in 2000, with perfumes and cosmetics and luxury goods combining for almost 67 percent of volume. Sales of perfumes and cosmetics, which totaled $5 billion, constituted a 35.8 percent share of total airport sales compared with the 2000 results of $2.6 billion and 29.8 percent share.
Sales of luxury goods in 2005 reached $4.3 billion compared with $2.9 billion in 2000.