The airfreight market has undergone some significant lows in the past year amid geopolitical conflict, flat rates and overcapacity.
Coming into 2024, France-based forwarder Geodis sees signs of a strengthening market with projected growth of 3% to 4% year over year in March.
Coupled with emerging technologies and growing demand, this year marks a comeback period for airfreight, Joe Kronenberger, senior vice president of airfreight product for the Americas at Geodis, told Air Cargo Next in this episode of “On Air with Air Cargo Next.”
“I think it’s a secret to nobody who’s involved in our industry that we’ve been very slow to adapt to technology,” Kronenberger said. “However, I think we’ve made great strides, and it’s going to be a very exciting period of time. We have data solutions. We have AI entering into our business structure, [which is] allowing us to look at rate schedules and helps us in our bidding and helps us look at our cargo mix.”
Kronenberger discusses how the market is shifting, how e-commerce is aiding demand out of Asia and Europe and how technology will help the transition.
“It overall creates efficiencies and is going to lead to increased productivity,” he said. “So I think it’s going to be, you know, a really, really good era for our customers and for our company, as well — and for the industry as we deploy these technologies.”
Listen to the full episode below.
Register here for Air Cargo Next’s free webinar, “The Role of Drones in the Future of Air Cargo,” on Tuesday, March 26, at 11 a.m. ET.