The Changeable Nature of the Air Transport Markets
Over the last five years the air transport markets were marked by three main crucial events; the economic recession, the rise in fuel prices and terrorism. All these factors had an enormous effect on the passenger market, which included business (network carriers, business focused carriers, fractional ownership and private charters), the leisure industry (network carriers, scheduled carriers and charter carriers) and the cargo market, which is divided in scheduled combination carriers (passenger & cargo and all cargo carrying aircraft) and all-cargo (integrators, airport to airport and charter).
Recessions tended to hit the industry every 6-9 years and last for 2-3 years at a time.
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By 2014, the largest international freight markets will be the US (8.8 million tonnes), Hong Kong (5.4 million tonnes), Germany (4.4 million tonnes), Japan (4.4 million tonnes) and China (3.8 million tonnes). The volume growth expected in China and Hong Kong will account for a third of global volume growth over the period to 2014. The industry is facing not only the issues related to the economic crisis, but is subsequently facing the problems in respect to the environment following the new guidelines posed by the ICAO (International Civil Aviation Organization) regarding aircraft noise and engine emissions. Boeing is ready with the 787 made of composite materials for 50 percent of the primary structure including the fuselage and wing. It is simpler than today's airplanes and offers increased functionality and efficiency. For example, the team has incorporated airplane health-monitoring systems that allow the airplane to self-monitor and report systems maintenance requirements to ground-based computer systems. New engines from General Electric and Rolls-Royce are used on the 787. Advances in engine technology are the biggest contributor to overall fuel efficiency improvements. The new engines represent nearly a two-generation jump in technology for the middle of