Page 11 - LUA September - October 2023 Magzter

to the Middle East, to Asia and even South the acceptance of air charter, thus increasing
America. We also noticed an increase of the market size of air charter services.
intra-Africa demand for chartering flights,” “The first factor is the growing
said Randig. population, who are willing and can afford
“The booming African charter to consume a large variety of products,
market has garnered international from cell phones and computers to fashion
attention. Notably, there's a trend toward items. The population growth triggers
personalised services and accelerated After a long time of the need for more infrastructure and so
deliveries. Following the pandemic, we telecommunication and construction
experienced a notable increase in demand global supply chain equipment need to be brought into
for adaptable cargo transport solutions,” disruptions, customer countries. This population also needs
said Wyk. expectations are access to medical and pharmaceutical

KEY GROWTH FACTORS at an all time high, products. There is also growing footprint
of manufacturing plants (eg. automotive)
The global chartered air transport market meaning that we as in Africa,” said Randig.
increased at an 8.5 percent compound a logistics provider Africa is also a source of perishable and
annual growth rate (CAGR) from $79.16 textile products. These commodities need
billion in 2022 to $85.9 billion in 2023. The need to keep pushing fast and reliable modes of transport to
chartered air transport market is estimated the envelope and access their final markets worldwide, that
to increase at a 7.7 percent CAGR to improve our service increases the need for charter flights.
$115.78 billion by 2027. “The projected growth of the chartered
The demand for items is surely to keep up with those air transport market can be attributed to
increasing as people become increasingly expectations. several key growth factors. These include
drawn to shopping online. Scenarios such as DANIEL RANDIG the continuous increase in global trade,
time constraints, last-minute capacity, and KUEHNE+NAGEL the urgency of time-sensitive deliveries,
unexpected applications have also pushed the accessibility of remote locations, and

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