A Look at Supply Chain and Logistics in 2021
It all happened so fast.
Everything came to a halt initially and then, as supply chains began to slowly click back into gear, we saw significant network disruptions followed by unprecedented spikes in consumer demand which left some industries hanging by a thread. With countless changes and tremendous transitions taking place throughout the year, 2021 was truly one for the books.
Let’s take a look at some of these takeaways in supply chain and logistics last year:
Air Freight Market Growth Rate Surpassed Sea Freight
A few months ago, research consultancy Transport Intelligence predicted a rebound of the global freight forwarding industry. In their Global Freight Forwarding 2021 Report, air freight was forecasted to grow by 14.9% in real terms, 7.3% more than sea freight. This comes after the administration of COVID vaccines around the world which began as early as December 2020. The falling number of community cases along with the easing of lockdown measures and travel restrictions were expected to contribute towards growth within the air freight forwarding industry.
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