Vietnam Air Freight Market Growth, Size, Trends, Revenue, Share, Challenges and Future Outlook
Vietnam Air Freight Market Size- By Service, By Destination, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jan-2024 | Report ID: AMIN2402 | Pages: 1 - 104 | Formats*: |
| Category : Automotive & Transportation | |||
Vietnam Air Freight Market Introduction and Overview
According to SPER Market Research, the Vietnam Air Freight Market is estimated to reach USD XX billion by 2033 with a CAGR of XX%.
The report includes an in-depth analysis of the Vietnam Air Freight Market, including market size and trends, product mix, applications, and supplier analysis. The term "air freight," which is another name for "air cargo," describes the long-distance movement and shipment of commodities or consignments using commercial or charter airlines. It entails the use of air transportation networks and infrastructure to convey shipments, goods, and parcels from one place to another. Worldwide, quick shipments between consignors and consignees or between sellers and purchasers are frequently made by air freight. It provides a quick and effective means of transportation for a variety of items and is frequently utilised for both domestic and international shipments. Fast transit times, worldwide reach, dependable schedules, improved security measures, and accessibility to important markets are just a few benefits that air freight offers.
- Vietnam's participation in "ASEAN Open Skies," an agreement that eliminated fare control, capacity restrictions, and frequency restrictions on regional flights, went into effect in 2015, and the Ministry of Transport claims that this has helped create a favourable environment for the growth of the air freight industry in the region, especially for Vietnam.
Market Opportunities and Challenges
Vietnam's air freight sector is essential to the country's economy since it provides a key lifeline for global trade and commerce. The air freight industry in Vietnam has the potential to grow significantly and offers investors attractive prospects. Recent legislative revisions demonstrate Vietnam's commitment to creating an environment that is favourable for investment. The enactment of new investment legislation and guiding directives aims to improve the investment climate for foreign investors. This also applies to the aviation industry, as it lowers obstacles and expands investor opportunities to engage in a range of aviation-related firms. A number of investors, including the country's airlines, have already indicated interest in funding Vietnamese airlines. Modernising the air cargo industry has taken a major step forward with the Cargo Services Conference's approval of the ONE Record Initiative. With the help of this endeavour, each cargo will have a single record instead of the several data standards currently utilised for transport papers. The industry's transparency and efficiency should increase as a result of this standardisation effort, further putting Vietnam's air freight sector in a growing position.
There is a lot of opportunity for investment in Vietnam's air freight sector, but potential investors should be aware of the difficulties involved. Limited infrastructure, especially at smaller airports, raises the cost of logistics and causes inefficiencies in operations. Some facilities, like those at Tan Son Nhat and Noi Bai, are underinvested in and do not have automation. The Airports Corporation Vietnam is spearheading initiatives to tackle these problems. Maintaining operational excellence is also hampered by a lack of qualified workers. Both domestic and foreign investments may be discouraged by the aviation sector's strict rules and economic hazards. Despite obstacles, strategic initiatives and advancements present opportunities for the transportation of commodities to flourish.
Market Competitive Landscape
Vietnam's air freight market typically featured several key players, including both domestic and international air cargo carriers, logistics companies, and freight forwarders. The major players in the Vietnam Air Freight Market include: Air Cargo Services Company (ACS), BSS Logistics, Bull Lines Group, Duc Viet Cargoteam, Empire-Group Co., Ltd, HL Vietnam International Co., Ltd, HT CARGO, Kunna Logistics, TCL International Co., Ltd, Venus Logistics, VOLTRANS LOGISTICS CO., LTD, and Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Service, By Destination, By End User |
| Regions covered | Central Region, Southern Region, Northern Region |
| Companies Covered | Air Cargo Services Company (ACS), BSS Logistics, Bull Lines Group, Duc Viet Cargoteam, Empire-Group Co., Ltd, HL Vietnam International Co., Ltd, HT CARGO, Kunna Logistics, TCL International Co., Ltd, Venus Logistics, VOLTRANS LOGISTICS CO., LTD, and Others |
COVID-19 Impact on Vietnam Air Freight Market
Vietnam's air freight industry experienced significant disruptions due to global logistics and air cargo issues during the Covid-19 pandemic. The industry experienced a significant drop in the market for air freight due to supply chain problems brought on by limitations on foreign travel. During the recovery phase, Vietnam's air freight environment shown tenacity and adaptability despite the setback. Reduced passenger flights forced the sector to adjust, leading to higher air freight costs and supply chain restrictions worldwide. Remarkably, 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.
Key Target Audience:
- Air Cargo Carriers
- Freight Forwarders
- Government Authorities and Regulatory Bodies
- Logistics and Supply Chain Managers
- Manufacturers of High-Value or Perishable Goods
- Retailers and E-commerce Companies
- Shippers and Exporters
- Others
Our in-depth analysis of the Vietnam Air Freight Market includes the following segments:
| By Service: |
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| By Destination: |
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| By End User: |
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Key Topics Covered in the Report:
- Vietnam Air Freight Market Size (FY’2024-FY’2034)
- Overview of Vietnam Air Freight Market
- Segmentation of Vietnam Air Freight Market By Service (Freight, Express, Mail, Others)
- Segmentation of Vietnam Air Freight Market By Destination (Domestic, International)
- Segmentation of Vietnam Air Freight Market By End User (Commercial, Private)
- Statistical Snap of Vietnam Air Freight Market
- Expansion Analysis of Vietnam Air Freight Market
- Problems and Obstacles in Vietnam Air Freight Market
- Competitive Landscape in the Vietnam Air Freight Market
- Impact of COVID-19 and Demonetization on Vietnam Air Freight Market
- Details on Current Investment in Vietnam Air Freight Market
- Competitive Analysis of Vietnam Air Freight Market
- Prominent Players in the Vietnam Air Freight Market
- SWOT Analysis of Vietnam Air Freight Market
- Vietnam Air Freight Market Future Outlook and Projections (FY’2024-FY’2034)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Vietnam Air Freight Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Vietnam Air Freight Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Vietnam Air Freight Market
7. Vietnam Air Freight Market, By Service (USD Million)
7.1. Vietnam Air Freight Market Value Share and Forecast, By Service, 2023-20337.2. Freight7.3. Express7.4. Mail
7.5. Others
8. Vietnam Air Freight Market, By Destination (USD Million)
8.1. Vietnam Air Freight Market Value Share and Forecast, By Destination, 2023-20338.2. Domestic
8.3. International
9. Vietnam Air Freight Market, By End User (USD Million)
9.1. Vietnam Air Freight Market Value Share and Forecast, By End User, 2023-20339.2. Commercial9.3. Private
10. Vietnam Air Freight Market Forecast, 2019-2033 (USD Million)
10.1. Vietnam Air Freight Market Size and Market Share
11. Vietnam Air Freight Market, By Service, 2019-2033 (USD Million)
11.1. Vietnam Air Freight Market Size and Market Share By Service (2019-2026)11.2. Vietnam Air Freight Market Size and Market Share By Service (2026-2033)
12. Vietnam Air Freight Market, By Destination, 2019-2033 (USD Million)
12.1. Vietnam Air Freight Market Size and Market Share By Destination (2019-2026)
12.2. Vietnam Air Freight Market Size and Market Share By Destination (2026-2033)
13. Vietnam Air Freight Market, By End User, 2019-2033 (USD Million)
13.1. Vietnam Air Freight Market Size and Market Share By End User (2019-2026)
13.2. Vietnam Air Freight Market Size and Market Share By End User (2026-2033)
14. Vietnam Air Freight Market, By Region, 2019-2033 (USD Million)
14.1. Vietnam Air Freight Market Size and Market Share By Region (2019-2026)14.2. Vietnam Air Freight Market Size and Market Share By Region (2026-2033)14.3. Central Region14.4. Southern Region14.5. Northern Region
15. Company Profile
15.1. Air Cargo Services Company (ACS)15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments15.2. BSS Logistics15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments15.3. Bull Lines Group15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments15.4. Duc Viet Cargoteam15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments15.5. Empire-Group Co., Ltd15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments15.6. HL Vietnam International Co., Ltd15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments15.7. HT CARGO15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments15.8. Kunna Logistics15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments15.9. TCL International Co., Ltd15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments15.10. Venus Logistics15.10.1. Company details15.10.2. Financial outlook15.10.3. Product summary15.10.4. Recent developments15.11. VOLTRANS LOGISTICS CO., LTD15.11.1. Company details15.11.2. Financial outlook15.11.3. Product summary15.11.4. Recent developments15.12. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Vietnam Air Freight Market is projected to reach USD XX billion by 2033, growing at a CAGR of 4.21% during the forecast period.
Vietnam Air Freight Market size from 2022. The Market is expected to reach USD XX billion by 2033, at a CAGR of XX% during the forecast period.
Vietnam Air Freight Market CAGR of 4.21% during the forecast period.
You can get the sample pages by clicking the link - Click Here
Vietnam Air Freight Market size is USD XX billion from 2023 to 2033.
"Vietnam Air Freight Market Segment is covered By Service, By Destination, By End User."
The Asia-Pacific is anticipated to have the highest market share in the Vietnam Air Freight Market.
The key players in the market include Companies Covered Air Cargo Services Company (ACS), BSS Logistics, Bull Lines Group, Duc Viet Cargoteam, Empire-Group Co., Ltd, HL Vietnam International Co., Ltd, HT CARGO, Kunna Logistics, TCL International Co., Ltd, Venus Logistics, VOLTRANS LOGISTICS CO., LTD, and Others.
Vietnam's air freight sector is essential to the country's economy since it provides a key lifeline for global trade and commerce. The air freight industry in Vietnam has the potential to grow significantly and offers investors attractive prospects.
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