Not many would refute that e-commerce is transforming global supply chains. Consumers are expecting more product choices and faster delivery and, therefore, air cargo is becoming more important for shippers to meet these evolving consumer demands. Global air traffic is expected to grow an average 4.2 % annually over the next 20 years.
While air cargo represents less than 1% of global trade in terms of volume, it accounts for 35% in value. Thus, when it comes to the future of air cargo, a lot is at stake. A variety of factors will determine the ability of air cargo providers to facilitate the global demand for fast, reliable shipping.
Cargo Network Services (CNS), a company of the International Air Transport Association (IATA), is partnering with the U.S. Chamber of Commerce and other organizations to host the 2nd annual U.S. Air Cargo Industry Affairs (USACIA) Summit on September 6 in Washington, D.C. The Summit will cover air cargo security, regulations, infrastructure, and countless other issues. It is imperative that the government and private sector collaborate on issues impacting air cargo to find real-world solutions that ensure our national and economic security.
The timing of this summit could not be better. So much is happening around the globe in this industry. A recent IATA report found that a 1% increase in air cargo connectivity is associated with a 6.3% increase in total exports and imports. Air cargo is clearly an investment worth making. One example is the cargo hub Amazon is building in Northern Kentucky, which is expected to create over 2,000 jobs.
As market forces change, air cargo is changing too. We invite you to join us at the USACIA summit.