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India's top 10 air forwarders lose market share despite +100pc growth

INDIA's 10 leading air freight forwarders suffered a decline in 2015 market share despite growth in the country's air cargo market overall, reported Lloyd's Loading List.

That's what Amsterdam analysts at WorldACD say, noting that India's air freight growth in 2015 was more than double the worldwide average: +4.1 per cent outbound and +4.7 per cent inbound.

As for January 2016, the year-on-year overall market growth was even higher at seven per cent, WorldACD said.

"With yields moving along with the worldwide changes, one could say that its starting point is good," WorldACD said.

Although the United Kingdom remains India's most important outbound air freight market, its dominant position is dwindling.

India's top forwarders' market share is already smaller in India than worldwide, and it decreased further in 2015, WorldACD said.

Whereas the top five forwarders only lost 0.1 percentage points, their share going from 14.6 per cent to 14.5 per cent, the five next biggest forwarders' was between 10.5 to 9.9 per cent.

"With the exception of UPS, the global forwarders fared less well than the large regional and local forwarders, who showed spectacular volume growth," World ACD said.

An advisor to the Indian government recently stated that the country expects its air cargo sector to grow by over 180 per cent over the next 15 years.