IATA estimates 25 million layoffs due to drop in demand

The International Air Transport Association (IATA) released full-year 2019 data for global air freight markets showing that demand, measured in freight tonne-kilometres (FTKs), fell by 3.3 percent compared to 2018 while capacity (AFTK) rose by 2.1 percent.Air freight volume in Asia-Pacific declined by 5.7 percent in 2019, the worst decline in any region.This was the first year of declining freight volumes since 2012, and the weakest performance since the global financial crisis in 2009 when air freight markets contracted by 9.7 percent.In the month of December, cargo volumes contracted 2.7 percent year-on-year while capacity rose 2.8 percent.Air cargo’s performance in 2019 was dampened by weak growth in global trade of just 0.9 percent.

The sector’s underperformance was also due in particular to slowing GDP growth in manufacturing-intensive economies.

Softer business and consumer confidence, along with falling export orders, also contributed to air freight struggles.There are signs that confidence and orders could pick up in 2020.

It is too early to say what long-term effects will be seen from the impact of restrictions associated with combatting the coronavirus outbreak.Why 2020 will be a challenging year for air cargo?

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The global aviation high speed motor market size is projected to reach USD 3.74 billion by 2028, exhibiting a CAGR of 5.62% during the forecast period.

According to a recent report by Fortune Business Insights™, titled “Aviation High Speed Motor Market, 2021-2028”, the value of the market was estimated to be USD 2.33 billion in 2020.The sudden arrival of the COVID-19 pandemic has caused unprecedented upheavals in the aviation industry, shocking the aviation high speed motor market growth.

The principal factor for the negative impact of the pandemic on this market is the revenue shortfalls experienced by motor manufacturing companies when major economies, such as India and Japan, underwent lockdowns from March 2020 onwards.

Siemens, for instance, witnessed a 59.5% rise in its third-quarter earnings in 2020, triggered by the shutdown of its factories and plants.Sydney Seaplanes, Dante Aeronautical, and MagniX Announce Exciting PartnershipDante Aeronautical, Sydney Seaplanes, and MagniX announced a path-breaking partnership in December 2020, under which the companies will co-develop the world’s first-ever Electric Cessna Caravan Supplemental Type Certificate (STC) program.

Leveraging MagniX’s aviation high speed motor propulsion system, Dante and Sydney will convert the Cessna Caravan into a fully-electric aircraft that will be certified by the Australian Civil Aviation Safety Authority.

Set to be completed by 2023, the STC will position Sydney Seaplanes as an undisputed leader in electric aircraft operations, and Dante as the technology integrator, across Australia, New Zealand, and the South Pacific.Increasing Deployment of UAVs for Military Operations to Fuel the MarketAviation high speed motors are the most important components in powering unmanned aerial vehicles (UAVs).

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