A Fireside Chat on Air Cargo Market
The Air Cargo Event (“ACE”) held in Abu Dhabi on 4-6 December 2023 provided the opportunity for the FIATA President Turgut Erkeskin and TIACA Director General Glyn Hughes to have a fireside chat on the 2023 air cargo market overview and 2024 forecast. Following the fireside chat, Mr. Erkeskin also took part in a panel discussion on “Tomorrow’s air cargo”, during which panelists discussed key trends, challenges and opportunities that will affect air cargo in the next decade.
During the fireside chat and the panel, President Erkeskin observed recent geopolitical events that have had a huge impact on global supply chains as being the new normal, as well as trends towards nearshoring and the changing course of globalization with foreign direct investment shifting towards emerging countries in Europe, Africa and the Americas.
He noted that the core value proposition of air cargo remains intact, particularly for niche services offered for valuables, perishables, pharma and time-critical cargo, for which airlines and forwarders need to work together to offer tailor-made solutions to customers that encompass the door-to-door services demanded.
Erkeskin also commented on forwarder market evolution, suggesting that SME forwarders are more agile to shocks; they can adapt faster to the changing conditions of the market. They can find the solutions earlier – communicate faster and be a solution provider to their customers as well as the airlines.
Sustainability was underlined as an increasingly critical topic for the air cargo industry, noting the increased expectations for companies to establish concrete sustainability targets and report progress transparently.
