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High-FlyingAmbitionsTheResilientFutureofSingaporesAirFreightSpaceAs
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ointernationaltradecontinuestoevolvetheairfreightindustryisundergoingatransformationdrivenbyfast-growingsectorslikee-commercepharmaceuticalsandhigh-valuegoodsAndwhileseafreightmaycostlessperkilotheadvantagesofairfreightgiveitadistinctedgeintermsofvalueThestatisticsspeakforthemselvesAccordingtotheInternationalAirTransportAssociation(IATA)aircargoaccountedforonly1%oftheworldstotalfreightby weightin2023 yetrepresentedasizeable35%ofglobal tradeby value–highlightingitsimportance toglobalsupplychains Anditsset togrowMarket analysts estimate the global air cargomarket will expand at a compound annual growthrate of532% from2022 to2027rising from aS$395billionindustryin2023toaS$636billion juggernautby2031WithincreasingdemandforfasterdeliverytimesgreatertransparencyandsustainablesolutionsthelogisticslandscapeisrapidlyshiftingSingaporestrategicallylocatedatthecrossroadsofmajorglobaltraderoutesplaysapivotalroleinthistransformation–andstandstogainfrombeingamongtheleadersinthisevolutionAsaleadingairfreighthubinAsiaPacificChangiAirportisexpandingtomeettheexpectedsurgeindemandwithplanstoincreasecargocapacityto54milliontonnesannuallyby2030Singaporesair freightindustryispoised toleadarapidlychangingglobalmarket throughinvestmentsininfrastructureandhumancapitaland from thekeyemergingtrendsthatareshapingthefutureoflogisticsworldwide
