'Why the future of aviation starts with connectivity'

With a rebound in air travel now underway, a new report published today by Cranfield University and Inmarsat highlights the critical role that digital connectivity will play in accelerating aviation's long-term recovery. Titled 'Why the future of aviation starts with connectivity', the study offers insights and direction for key aviation stakeholders and governments as they reconsider their priorities for the industry's future. This will be fuelled largely by a monumental shift in passenger behaviour and expectations following the pandemic, as well as increased consumer awareness of their impact on the climate.

The report highlights a number of transformative changes ahead for the aviation industry and examines how airlines can take advantage of the enormous opportunities created as a result.

As part of their research, experts from Cranfield University have developed a Digital Connectivity Timeline, which outlines when 21 of the industry's most critical technological innovations can be expected to reach adoption. It focuses on three distinct timeframes: five years (technologies at advanced stages of development and in some cases are being piloted by organisations ahead of market adoption), between five to ten years (technologies under early development with potential to be trialled in some sectors), and beyond the next decade (concepts under consideration for product or service offering development).

These technologies will enable a range of innovative concepts to make their way onto aircraft and airspace, helping to define the future of aviation while leading to important step changes in passenger experience and sustainability efforts. Amongst the concepts explored are:

• How the 'Conscious Aircraft' uses sensing and communication technologies to create an integrated aircraft health, maintenance, and performance management system that is capable of a fully aware state, with the ability to either take or suggest appropriate action. For example, it can accurately predict the health of aircraft components and automatically reconfigure them to optimise their lifecycle. In addition, it can sense changes in the external environment, like weather or a volcanic ash cloud. With the reduced need for planned maintenance, as well as anticipating the potential for component failures, maintenance costs would be cut by an estimated 30%.
• How the 'Connected Journey' will enhance a passenger's experience with more efficient and personalised wayfinding through airports, more intelligent and response baggage tracking, real-time updates on flight disruptions, and seamless high-speed inflight connectivity.
• How Trajectory Based Operations are a critical step towards the future management of air traffic, allowing more efficient traffic sequencing and routine deployment of so-called fuel efficient 'green descents' to airport terminal areas.
• How Artificial Intelligence (AI) and digital trust technologies have enormous potential to be applied across all aviation sectors. AI can provide intelligent advice on aircraft management issues and make informed decisions under pressure – when there is the need to make a diversion, for example – with camera-based traffic detection, or helping crew to anticipate and prevent critical situations. Machine Learning (ML) can improve accuracy of any application involving optimisation, from sensor calibration to fuel tank checks to icing detection.

Global Low Cost Airlines Market Report 2021-2025

Research And Markets issues a new  Low Cost Airline Market report providing an in-depth analysis of the key market trends that are shaping the future of this segment and an analysis of the low-cost airline market globally. Detailed market insight is provided on the Americas, Asia-Pacific, Middle East & Africa, and Europe. It also features profiles of some of the segment's leading players and looks at how companies can better meet their customers' needs.

Scope

Though the US was the worst affected country by the coronavirus pandemic, the LCC market in the country managed to be number 1 in terms of seats sold in 2020, with 115.5 million seats sold. Spain and the UK held the second and third positions, respectively.

The pandemic has transformed the customer preferences to a greater extend with safety and hygiene becoming the need of the hour. As social distancing is the new normal, the demand for digitalized services and contactless technologies is also booming.

By keeping costs down and prices low, the ULCCs have managed to gain a considerable market share from legacy competitors and have developed a new demographic segment called family flyers, who earlier used to either travel by car or stay home.

Reasons to Buy

Understand the impact of COVID-19 on this market

Gauge which are the biggest and most promising regional markets for the low-cost airlines market

Understand the demand-side dynamics within the industry to identify key trends and growth opportunities

Gain an understanding of the outlook for regional markets and learn from existing successes and our recommendations.

Key Topics Covered:

Snapshot

Key Trends

Deals

Key Insights

Americas

Asia-Pacific

Europe

Middle East and Africa

Outlook

Company Profiles

Appendix

Companies Mentioned

Ryanair

easyJet

Southwest Airlines

IndiGo

AirAsia

Allegiant

Spirit

For more information about this report visit https://www.researchandmarkets.com/r/4sfnop

More top stories you might be interested in.....

Follow this site here.

Air Cargo Container Market Report 2022

A new report predicts the global air cargo container market to grow with a CAGR of 3.70% over the forecast period from 2021-2027.

The report on the global air cargo container market provides qualitative and quantitative analysis for the period from 2019 to 2027. The study on air cargo container market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and RoW for the period of 2019 to 2027.

The report on air cargo container market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global air cargo container market over the period of 2019 to 2027. Moreover, the report is a collective presentation of primary and secondary research findings.

Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global air cargo container market over the period of 2019 to 2027. Further, Growth Matrix gave in the report brings an insight into the investment areas that existing or new market players can consider.

Report Findings

1) Drivers

The rising demand for transportation of various goods across the globe in a short span of time is a major factor driving the growth of the market for air cargo containers

2) Restraints

The price of aviation fuel is one of the major concerns

3) Opportunities

The air cargo container market has potential opportunities to grow in the future as the number of commercial airlines is increasing at a rapid pace, and E-commerce is also boosting its market demand

Airport Security Market revenue to cross USD 25 Bn by 2028

The airport security market size is anticipated to record a valuation of USD 25 billion by 2028, according to the most recent study by Global Market Insights Inc.  The market growth can be attributed to an increase in the volume of air passengers across the globe.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/367 

The Real-Time Locating System (RTLS) segment in the airport security market will witness growth during the forecast timeline, which is credited to the rising focus on improving passenger flow across the site. To improve operational efficiency, reduce maintenance costs & track passengers traffic, airport authorities are investing in RTLS systems at different checkpoints. For instance, in December 2021, Xovis AG received a contract from the Airports of Thailand (AoT) for the supply & installation of passenger tracking systems at three airports including Phuket International, Suvarnabhumi (Bangkok) Airport, and Don Mueang International. The agreement includes the deployment of solutions for monitoring, analyzing, and presenting real-time data of travellers.

Major airport security market players include IBM Corporation, Leidos, Axis Communications AB, C.E.I.A. S.p.A., Biosensor Applications AB, FLIR Systems, Hitachi Ltd., Smiths Detection Group Ltd., Westminster Group PLC, Honeywell International, Inc., OSI Systems, Thales Group, Collins Aerospace (Raytheon Technologies), Siemens AG, Auto Clear LLC, and Bosch Sicherheitssysteme GmbH.

The system will collect data from operational data, such as a number of passengers in the arrival, departure & transit areas, and from visual information, to derive data-driven insights. Through this, the organization is focusing on reducing the waiting time during security checks, check-in lines, and passport controls, thus improving the overall customer travel experience. The collected data can also be used to forecast passenger traffic on a day-to-day basis and allocate resources & assets accordingly.

Air Travel Recovery Driven by Vaccine Distribution and Lack of Restrictions

During 2021, the recovery in air passenger volumes strengthened globally as vaccine distribution expanded and travel restrictions receded according to DBRS Morningstar group.

The recovery has been led by domestic leisure travel supported by high household savings, a desire to travel following a prolonged period of living in one's primary residence, and the removal of most travel restrictions.

Even with the surge in global Coronavirus Disease (COVID-19) cases following the Delta and Omicron variants in the last quarter of the year, passenger volume data from the International Air Transport Association (IATA) indicates that air travel demand continued to recover through year-end supported by the desire of vaccinated people to travel to see loved ones during the holidays or to simply have some time away.

“As a result of the steady but uneven recovery in passenger volumes, airlines have become more confident in their expectations of a full recovery in aviation travel over the medium-term, which has supported demand for aircraft and is a positive for aircraft lessors,” said David Laterza, Senior Vice President, Head of Non-Bank FIG – Global FIG.

Report here.

More top stories you might be interested in.....

Follow this site here.

Aircraft Engine Market Size to Reach USD 108.47 Billion in 2028

The global aircraft engine market size reached USD 56.39 Billion in 2020 and is expected to register a significantly steady revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Increasing demand for new aircraft and expansion of commercial aircraft fleets are some key factors expected to augment market revenue growth between 2021 and 2028.

Drivers:

Increasing demand for low-cost and fuel-efficient aircraft and increasing use of 3D printed aircraft engine parts are expected to propel revenue growth of the market over the forecast period. Various engine manufacturers are currently focusing on production of lightweight engines in order to lower the total weight of aircraft and enhance the fuel economy. GE Aviation has built an advanced turboprop engine, which is the first commercial aircraft engine with a high proportion of 3D printed parts. The engine designers reduced 855 different components to 12 components. This is intended to lower engine weight, resulting in less fuel required to achieve the very same speed.

Restraints:

Rising fuel prices, stringent emission standards, and need for superior engines are resulting in aircraft engine manufacturers to rethink existing models, which is a factor expected to restrain revenue growth of the market to some extent during the forecast period.

Electric Aircraft Market worth $27.7 billion by 2030

According to a research report "Electric Aircraft Market by Platform (Regional Transport Aircraft, Business Jets, Light & Ultralight Aircraft), Type, System (Batteries, Electric Motors, Aerostructures, Avionics, Software), Technology, Application, and Region - Forecast to 2030", published by MarketsandMarkets™, the market is estimated to be USD 7.9 billion in 2021 and is projected to reach USD 27.7 billion by 2030, at a CAGR of 14.8% during the forecast period. The growth of this market is mainly driven by the deployment of urban air mobility aircraft and the increasing use of electric aircraft for cargo applications and different aerial mission-specific activities.

The major players in the electric aircraft market include Airbus SE (Netherlands), Elbit Systems Ltd. (Israel), and AeroVironment, Inc (US), These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well.

The sudden outbreak of the COVID-19 has taken a toll on various industrial sectors, with aviation being one of the worst affected. However, the electric aircraft market did not seem to have been impacted by the pandemic as much as the aviation industry as a whole. Electric UAVs were widely used by militaries for a variety of missions like border security, while governments and law enforcement agencies used them on an experimental basis.

UK's Government publishes world’s first ‘greenprint’ to decarbonise all modes of domestic transport by 2050

Transport decarbonisation plan for cleaner air, healthier communities and tens of thousands of new green jobs.

Cleaner air, healthier communities and tens of thousands of new green jobs are set to become reality thanks to the UK’s revolutionary Transport decarbonisation plan, Transport Secretary Grant Shapps has announced today (14 July 2021).

With just months to go until major climate summit COP26, the plan provides a world-leading ‘greenprint’ to cut emissions from our seas and skies, roads and railways, setting out a credible pathway for the whole transport sector to reach net zero by 2050.

Cleaner transport will create and support highly skilled jobs, with the production of zero emission road vehicles alone having the potential to support tens of thousands of jobs worth up to £9.7 billion GVA in 2050. This will also ensure the air we breathe is cleaner in our communities and reduce time spent in traffic.

government launches groundbreaking Transport decarbonisation plan to create cleaner, quieter cities and communities for better quality of life and to improve the way people and goods move around as we build back greener

plan includes consulting on world-leading pledge to end the sale of all new, polluting road vehicles by 2040 and net zero aviation emissions by 2050

smart electric vehicle charging that could reduce energy bills, and a commitment to electrify the entire fleet of government cars and vans by 2027, highlight ambition to tackle emissions

As part of this vision, the government has announced its intention to phase out the sale of new diesel and petrol heavy goods vehicles (HGVs) by 2040, subject to consultation – combined with the 2035 phase-out date for polluting cars and vans, this represents a world-leading pledge to phase out all polluting road vehicles within the next 2 decades. The consultation proposes a 2035 phase-out date for vehicles weighing from 3.5 to 26 tonnes and 2040 for vehicles weighing more than 26 tonnes – or earlier if a faster transition seems feasible.

With billions of pounds in investment already pledged including £2 billion in cycling and walking and £2.8 billion to support industry and motorists to make the switch to cleaner vehicles, the Transport decarbonisation plan also sets out how the government will improve public transport and increase support for active travel to make them the natural first choice for all who can take them – creating a net-zero rail network by 2050, ensuring net zero domestic aviation emissions by 2040 and leading the transition to green shipping.

Launch of the Transport decarbonisation plan

Massive £6.2bn loss ahead for the tourism sector in the UK......

The UK’s struggling tourist industry faces another bleak summer with international visitor revenues set to drop by £6.2bn from pre-pandemic levels.

This is another blow for an industry whose economic output for travel fell by 86% for travel agents and tour operators, between February and December 2020, according to recent figures from the Office for National Statistics.

The 2021 tourism forecast by Visit Britain also noted:

International tourism for 2021 is predicted to be at 28% of pre-Covid levels

Just 2% more people will come to the UK than in 2020, 11.3 million visitors in total

Even by the end of 2021, visitors will still not be anything near pre-Covid levels

The progression of worldwide vaccinations remains the most crucial driver to getting the tourist industry back on track

Domestic Tourism to Reach Just 56% of 2019 Levels this Summer

Despite the apparent boom in staycations and countryside glamping holidays, the Visit Britain forecast shows that many people are still opting to stay close to home. Estimates suggest the tourist industry could see £51.4bn in domestic tourism spending this year. This is up 51% from 2020, but still at only 56% of spending in 2019.

The forecast concludes “We do not expect an immediate return to pre-COVID levels of spending in any domestic tourism journey purpose or activity type, although we anticipate different recovery rates in different areas; some could see a strong summer while other remain below baseline levels for much longer.”

Source Companydebt.com 

More top stories you might be interested in.....

Follow this site here.

Tourism Sector Faces £6.2bn Loss from International Visitors this year

The UK’s struggling tourist industry faces another bleak summer with international visitor revenues set to drop by £6.2bn from pre-pandemic levels.

This is another blow for an industry whose economic output for travel fell by 86% for travel agents and tour operators, between February and December 2020, according to recent figures from the Office for National Statistics.

The 2021 tourism forecast by Visit Britain also noted:

International tourism for 2021 is predicted to be at 28% of pre-Covid levels

Just 2% more people will come to the UK than in 2020, 11.3 million visitors in total

Even by the end of 2021, visitors will still not be anything near pre-Covid levels

The progression of worldwide vaccinations remains the most crucial driver to getting the tourist industry back on track

Domestic Tourism to Reach Just 56% of 2019 Levels this Summer

Despite the apparent boom in staycations and countryside glamping holidays, the Visit Britain forecast shows that many people are still opting to stay close to home. Estimates suggest the tourist industry could see £51.4bn in domestic tourism spending this year. This is up 51% from 2020, but still at only 56% of spending in 2019.

The forecast concludes “We do not expect an immediate return to pre-COVID levels of spending in any domestic tourism journey purpose or activity type, although we anticipate different recovery rates in different areas; some could see a strong summer while other remain below baseline levels for much longer.”

With companydebt.com

More top stories you might be interested in.....

Follow this site here.

Zero-Emission Aircraft Market to Reach $191.97 Bn, Globally, by 2040....

Allied Market Research published a report, titled, "Zero-Emission Aircraft Market by Source (Hydrogen, Electric, and Solar), Range (Short-Haul, Medium-Haul, and Long-Haul), Application (Passenger Aircraft and Cargo Aircraft) and Type (Turboprop Rear Bulkhead, Turbofan System, and Blended Wing Body): Global Opportunity Analysis and Industry Forecast, 2030–2040." According to the report, the global zero-emission aircraft industry is estimated at $29.24 billion in 2030, and is anticipated to hit $191.97 billion by 2040, registering a CAGR of 20.7% from 2030 to 2040.

Drivers, restraints, and opportunities-

Surge in air passenger traffic and reduced GHG emissions across the globe drive the growth of the global zero-emission aircraft market. On the other hand, technological challenges and high costs associated with solar, electric, and hydrogen-powered aircrafts restrain the growth to some extent. However, proactive government initiatives toward zero-emission powered aircrafts and advancements in zero-emission aircraft technologies are expected to create multiple opportunities in the industry.

Download Report (261 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/12213

COVID-19 scenario-

• The outbreak of the pandemic gave way to a huge downfall in air traffic figures, thereby impacting the global zero-emission aircraft market negatively. The manufacturing facilities of the aircrafts were also hampered severely.
• However, recently, in May 2021, the International Air Transport Association (IATA) stated that the global air passenger traffic is projected to recuperate to almost 88% of pre-COVID-19 levels by 2022.

Is the Travel Industry Reinventing Itself in a Post-Covid World?

There is no doubt that the travel industry has felt the effects of the COVID-19 pandemic more strongly than many other sectors. Airlines, travel agencies, hotels, tour operators and holiday rentals have all had to find new ways to cope with ever-changing travel restrictions, lockdowns and sanitary requirements. 

As we enter the second year of restrictions, the good news is that the collective desire for the travel industry to reopen is certainly there. People are desperate to go on foreign holidays and many economies around the world are reliant on the tourist trade. So what steps has the travel industry taken to adapt to the new world order? And how are the stakeholders working together to make travel friendly once again?

How the Travel Industry Plummeted During the Pandemic

In early 2020, we started to receive news that cruise ships were stuck out at sea and unable to dock due to the rampant spread of coronavirus onboard. These ‘floating petri dishes’, as they were dubbed by the press, were a harbinger of things to come. As 2020 drew to a close, there was little sign of a let-up, with travel limitations still in place and lockdowns being introduced in the UK and around the world as a second wave of the pandemic took hold. 

According to the World Tourism Organization (UNWTO), the unprecedented disruption caused by the pandemic led to a 74% fall in international tourist arrivals when compared to the previous year. Equivalent to one billion fewer international arrivals, that plunged the industry back to levels that had not been seen since the late 1980s.

Read on to see if people ready to travel again and if recovery is on the way.......

 

How is the Travel Industry Reinventing Itself in a Post-Covid World?

There is no doubt that the travel industry has felt the effects of the COVID-19 pandemic more strongly than many other sectors. Airlines, travel agencies, hotels, tour operators and holiday rentals have all had to find new ways to cope with ever-changing travel restrictions, lockdowns and sanitary requirements. 

As we enter the second year of restrictions, the good news is that the collective desire for the travel industry to reopen is certainly there. People are desperate to go on foreign holidays and many economies around the world are reliant on the tourist trade. So what steps has the travel industry taken to adapt to the new world order? And how are the stakeholders working together to make travel friendly once again?

How the Travel Industry Plummeted During the Pandemic

In early 2020, we started to receive news that cruise ships were stuck out at sea and unable to dock due to the rampant spread of coronavirus onboard. These ‘floating petri dishes’, as they were dubbed by the press, were a harbinger of things to come. As 2020 drew to a close, there was little sign of a let-up, with travel limitations still in place and lockdowns being introduced in the UK and around the world as a second wave of the pandemic took hold. 

According to the World Tourism Organization (UNWTO), the unprecedented disruption caused by the pandemic led to a 74% fall in international tourist arrivals when compared to the previous year. Equivalent to one billion fewer international arrivals, that plunged the industry back to levels that had not been seen since the late 1980s.

Read on to see if people ready to travel again and if recovery is on the way.......

 

Global Inflight Catering Market - Growth at a CAGR of 5.7% Forecasted Between 2021 and 2026

                            The "Inflight Catering Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The Inflight Catering Market is projected to register a CAGR of more than 5.7% during the forecast period (2021-2026).

The ongoing COVID-19 pandemic has resulted in a full-scale crisis with the imposition of travel restrictions and the suspension of flights in a global effort to contain the spread of the virus. The aviation industry is in survival mode, crippled by the loss of traffic and revenues.

Global Special Mission Aircraft Market (2020 to 2030) - Opportunity Analysis and Industry Forecasts

The "Special Mission Aircraft Market by Type: Global Opportunity Analysis and Industry Forecast, 2020 - 2030" report has been added to ResearchAndMarkets.com's offering.

At an estimated value of over USD 13.62 billion in 2019, the Global Special Mission Aircraft Market is predicted to thrive at a CAGR of 9.7% and valued at over USD 33.55 billion over the forecast year 2020-2030.

Special mission aircraft are specifically developed to commence an over-battlefield role by using advanced onboard equipment. Majorly, this class of aircraft consist of fighter aircraft, interceptor fighters, and troop transports. These aircraft are provided with several capabilities to carry out missions such as to release a missile, rocket, or other aircraft payloads.

Global Commercial Aircraft Market 2021 - Key Trends, Issues & Challenges and Growth Opportunities Report

The "Global Commercial Aircraft Market - Annual Review - 2021 - Key Trends, Issues & Challenges, Growth Opportunities, Force Field Analysis, Market Outlook" report has been added to ResearchAndMarkets.com's offering.

Commercial Aviation has literally been decimated following the outbreak of COVID-19 in early 2020 across most parts of the world with the closing down of international borders and restrictions on international travel impacting passenger air traffic across most airlines severely worldwide following a decade of continued airlines profitability. The situation has forced many airlines to restructure & readjust their operations & business models while bringing many others to the brink of bankruptcy in addition to accelerating the retirement of many older quadjets and very large aircrafts thereby effectively sounding the death knell for the A340, 747 and A380 programs prematurely with the wide-body aircraft segment being the most impacted.

Global consumers are getting ready to travel again, but remain cautious about vaccinations and health and safety measures

2021 Travel Industry Trends, Insights, and Strategies.

Braze, a comprehensive customer engagement platform, today revealed findings from its newest data report, Ready for Takeoff: 2021 Travel Industry Trends, Insights, and Strategies. The research includes findings from a survey of 9,500 consumers across 13 global markets conducted by Wakefield Research, which explored COVID-19’s impact on consumer behaviour, expectations, and sentiment around travel. In combination with proprietary data from Apptopia, Braze, and Skyscanner, the report provides guidance for how brands can successfully meet the challenges and opportunities that come next. 

“With strong signs of a rebound, travel and hospitality brands must prioritize customer engagement in order to connect with new and old customers alike,” said Myles Kleeger, President and Chief Customer Officer of Braze. “The report proves that the right context combined with the right customer engagement strategies not only delivers relevant experiences but also drives business growth for an industry set for a comeback.” 

 

Key findings from the report include: 

 

Cost Continues to Be a Top Factor, but Health and Safety Measures Can Be a Deal Breaker 

While the COVID-19 pandemic impacted many normal behaviours for consumers, one thing remains the same—travellers still want a good deal. We see this attitude reflected in how consumers describe themselves: 60% of today’s travellers are “budget-minded,” while only 40% are “luxury-minded.” However, the only factor more important than cost is safety. The survey showed that, when asked to rank the most important factors in choosing a travel company, 31% of consumers put health and safety first, with those putting cost first slightly behind at 29%.

Global Amphibious Aircraft Market (2021 to 2025) - Featuring Aero Adventure, Aviat Aircraft and Viking Air Among Others

The "Global Amphibious Aircraft Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.

The publisher has been monitoring the amphibious aircraft market and it is poised to grow by $40.78 million during 2021-2025 progressing at a CAGR of 3% during the forecast period.

The report on amphibious aircraft market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the growing concerns in maritime security, augmented role in firefighting and rise in indigenous manufacturing capabilities of nations.

The amphibious aircraft market analysis includes application segment and geographical landscapes. This study identifies the use of advanced techniques for aircraft construction as one of the prime reasons driving the amphibious aircraft market growth during the next few years. Also, avionics advancements in general aviation and increased use of electrical systems in modern aircraft will lead to sizable demand in the market

Global Airfreight Forwarding Market (2021 to 2025)

The "Global Airfreight Forwarding Market 2021-2025" report Has been issued by Research and markets and is available now. 

The publisher has been monitoring the airfreight forwarding market and it is poised to grow by 7343.97 thousand tons during 2021-2025, progressing at a CAGR of over 4% during the forecast period.

Our report on airfreight forwarding market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the growing e-commerce sector and rising free-trade agreements in Europe.

The airfreight forwarding market analysis includes end-user segment and geographic landscape. This study identifies the increasing US agricultural export to China as one of the prime reasons driving the airfreight forwarding market growth during the next few years.

More Electric Aircraft Market to Reach $4.61 Bn, Globally, by 202

Allied Market Research published a report, titled, "More Electric Aircraft Market by Aircraft System (Propulsion System and Airframe System), Application (Power Generation, Power Distribution, Power Conversion, and Energy Storage), and Aircraft Type (Fixed-wing and Rotary-wing), and End User (Civil and Military): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global more electric aircraft industry generated $1.80 billion in 2019, and is expected to reach $4.61 billion by 2027, witnessing a CAGR of 15.5% from 2020 to 2027.