Vietnam Air Freight Market Size-Share 2023, Growth, Trends, Revenue, Key Players, Demand, Competitive Analysis and Future Opportunities till 2033: SPER Market Research
Delivering expedited cargo by aircraft, usually over greater distances, is known as air freight transportation. Because the ability to quickly and efficiently deliver valued goods to customers worldwide is essential to the functioning of the global economy, air freight plays a significant role in its development. Because of the aircraft’s temperature-sensitive environment and quick delivery times, vaccines are typically delivered by air to ensure they reach their intended location in time for effectiveness.
According to SPER market research, ‘Vietnam Air Freight Market Size- By Service, By Destination, By End User – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Vietnam Air Freight Market is predicted to reach USD XX billion by 2033 with a CAGR of XX%.
Crucial to Vietnam’s economic vitality, the air freight sector serves as a vital conduit for global trade. Positioned for substantial growth, it presents enticing prospects for investors, buoyed by recent legislative revisions reflecting Vietnam’s commitment to an investment-friendly environment. New investment laws and directives, including those in aviation, aim to enhance conditions for foreign investors. Interest from various investors, including domestic airlines, underscores the sector’s appeal. Advancements like the Cargo Services Conference’s approval of the ONE Record Initiative mark a significant stride in modernizing the air cargo industry, fostering transparency and efficiency. This initiative positions Vietnam’s air freight sector favourably for future expansion.
The primary obstacle to Vietnam’s air freight industry development is the inadequacy of infrastructure and logistic services, resulting in elevated logistic costs. The proliferation of airlines poses safety concerns and airport congestion due to insufficient infrastructure and technology. To address this, concurrent investments in modern equipment and infrastructure are essential. Additionally, an underdeveloped road system hampers connectivity between localities and airports, impacting goods quality through extended transport times. Despite challenges, concerted efforts are underway to confront these issues. Furthermore, the industry grapples with a shortage of well-trained human resources, presenting an investment opportunity for specialized training programs to supply high-quality personnel for cargo transport.
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Furthermore, due to international logistical issues and air cargo difficulties, Vietnam’s air freight business had significant disruptions during the Covid-19 pandemic. The industry witnessed a significant fall in the demand for air freight as a result of supply chain disruptions brought on by restrictions on foreign travel. Vietnam Freight and Logistics Market shown flexibility and perseverance in the aftermath. The business managed fewer passenger flights, which led to higher air freight charges and supply chain limitations worldwide. Unexpectedly, Vietnam’s international air freight industry proved resilient, with a significant uptick in business over the previous year, demonstrating its ability to adjust and prosper in the face of difficult conditions.
Vietnam Logistic Market Key Players:
Additionally, some of the market key players are Air Cargo Services Company (ACS), BSS Logistics, Bull Lines Group, TCL International Co., Ltd, Venus Logistics, VOLTRANS LOGISTICS CO., LTD, and Others.
Vietnam Air Cargo Market Segmentation:
By Service: Based on the Service, Vietnam Air Freight Market is segmented as; Freight, Express, Mail, Others.
By Destination: Based on the Destination, Vietnam Air Freight Market is segmented as; Domestic, International.
By End User: Based on the End User, Vietnam Air Freight Market is segmented as; Commercial, Private.
By Region: This research also includes data for Central Region, Southern Region, Northern Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Vietnam Air Freight Logistic Market Outlook
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