Because it enables speedy and effective global shipping of commodities, air cargo charters are a crucial part of the global economy, enabling companies to ship goods around the world at speed. Here are some interesting facts and statistics that showcase the significance of air cargo in today’s world:

1. The global air cargo market is expected to grow by 19.52 million tonnes during 2023-2027, accelerating at a CAGR of 5.32% during the forecast period. A report conducted by The Analyst offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increase in e-commerce sales to boost the air cargo market, growing demand from APAC, and rising demand from just-in-time manufacturers.

2. In 2023, the Asia Pacific region accounted for the largest share of the global air cargo market, with China being the largest market in the region.

3. The e-commerce industry has been a major driver of air cargo growth in recent years. In 2019, the volume of e-commerce air cargo increased by 14% compared to the previous year.

4. In recent years, healthcare and pharmaceutical products have been the fastest growing air cargo sectors, with demand for these two industries expected to further increase in the next few years.

5. The Cargo Facts Consulting firm forecasts that the global freighter fleet will rise from 1,782 to 2,920 cargo aircraft from 2019 to 2039, and is expected to hit 2000 by 2028, with the majority of these aircraft being narrowbody freighters.

6. The top three global air cargo hubs are Memphis International Airport (MEM), Hong Kong International Airport (HKG) and Shanghai Pudong International Airport (PVG), handling a combined 134 million metric tons of cargo in 2021 combined.

7. Air cargo’s share of global trade has been increasing in recent years and is forecasted to continue growing year-on-year for the foreseeable future. In 2019, air cargo accounted for around 35% of global trade by value.

8. The use of digital technologies, such as big data, blockchain and the internet of things is increasing in the air cargo and aviation industries, with these technologies mainly being used to improve supply chain visibility, efficiency and security.

These figures and statistics showcase how vital the air cargo industry is becoming to the modern world economy. With the e-commerce industry, healthcare products, and technological advancements driving the market and the share of global trade value steadily increasing, air cargo is set to play an even more significant role in the future.

If you’re interested in learning more about how CharterSync can help you, get in touch!

Our friendly, world-class sales and operations team are on hand 24/7 to offer round-the-clock support.

Have you ever wondered what the three or four-letter acronym code on your plane ticket or luggage tag means, or how they are decided?

Every airport in the world is given a three-letter code from the International Air Transport Association (IATA) and a four-letter code from International Civil Aviation Organization (ICAO). They are used to distinguish airports to ensure there is no confusion between cities and countries for airlines and aviation professionals, such as air traffic controllers and pilots. ICAO and IATA are the two official entities that issue airport codes, but their codes are different and have different uses.

They are generally shortcodes as space is often limited on documents such as boarding passes, luggage tags and other flight information, such as scheduled paperwork. These codes are useful for radio communications too, as communication difficulties between different languages can be eased by transmitting a code instead.

ICAO Codes:

The ICAO airport codes are also known as location indicators and are mainly used by those operating or flying aircraft, such as pilots and air traffic controllers; in charts, on-board systems and in communications. These four-letter codes are also used to identify other aviation facilities such as are control centres, weather stations and international flight service stations.

ICAO codes relate to a geographical location and many have the first letter referring to a larger region, like a continent, with the second demonstrating a country within that region. The following two letters are two-letter abbreviations based on the continent. Some large countries have their own first-code letter too; such as Canada, who have ‘C’ at the beginning of their ICAO codes.

IATA Codes:

IATA codes are used primarily for passengers only and not for operations, and referred to as location identifiers primarily used to identify airports (and also bus stations, railway stations, ferry terminals and helipads), that are used for intermodal travel, and are often based on the first three letters of the city the airport is located, or the airport name. Examples of this are John F. Kennedy Airport in New York (JFK), and London Heathrow Airport (LHR).

However, there are some instances where the letters do not correspond at all and it is simply a choice of letters, usually done when the most similar combination of letters is already in use, as seen by GEG for Spokane International Airport.

The same differences for Canada occur in IATA codes as they do with ICAO codes, and Canadian airports often have codes beginning with Y.

If you’re interested in learning more about how CharterSync can help you, get in touch! Our friendly, world-class sales and operations team are on hand 24/7 to offer round-the-clock support.

On Tuesday 8th November 2022, we won ‘The Technology Innovation Award’ at the Lloyds Bank British Business Excellence Awards, hosted in London.

The awards are a place to celebrate the resilience, innovation and creativity showcased by the UK and the business community, attracting a huge variety of businesses, from start-ups to established powerhouses – the Lloyds Bank British Business Excellence Awards are one of the biggest, most competitive and lucrative awards in the UK.

The Technology Innovation award specifically focuses on businesses using innovative technology to drive growth and those paving the way for the tech revolution, enabling people to work smarter and more effectively in a now digital-first environment. This award recognises and celebrates the businesses leading the charge in this space using technology to meet business challenges and solve problems.

CharterSync is a digital disrupter in the air cargo charter industry, and our technology is significantly improving the industry the freight forwarders and airlines across the world by introducing a faster, smarter and more streamlined way to book air cargo charters in one easy-to-use system.

Our win points to the critical role the air cargo sector played during the pandemic as a lifeline for society, delivering critical medical supplies across the globe and keeping international supply chains open.

Our entry into the awards outlined our ability to significantly speed up the air cargo charter process during the pandemic. We quickly and efficiently delivered and distributed COVID-19 test kits and essential personal protective equipment (PPE) from China into the UK, demonstrating our value as a vital link in the supply chain and global recovery.

CharterSync also supports the UK automotive industry by accelerating time-critical supply chains for the major vehicle manufacturers and OEMs. It uses intuitive digital technology to match utilised aircraft capacity and optimise delivery times, minimising delays for goods moving intra-Europe and across the Channel.

Ed Gillett, co-founder, and director, CharterSync, says, “CharterSync was founded based on our belief that the air freight market was being held back by slow, outmoded, manual legacy booking systems and that digital transformation could unleash the sector’s potential. It’s a real honour to have won the Technology Innovation Award, which truly celebrates exactly what we set out to achieve in launching CharterSync.”

We’re thrilled to have won such a prestigious award, and are really looking forward to 2023 and beyond!

If you’re interested in learning more about how CharterSync can help you, get in touch!

Our friendly, world-class sales and operations team are on hand 24/7 to offer round-the-clock support.