This March, the International Air Transport Association (IATA), held its 13th annual World Cargo Symposium in Singapore. The symposium consisted of over 1,000 air cargo leaders and more than 40 exhibitors including freight forwarders, regulators, and airline officials. 2019’s theme was “Enhancing Global Trade”. CT Strategies’ Andrew Farrelly, drawing from his experience implementing air cargo security programs at U.S. Customs and Border Protection, discussed ways in which the industry could work with customs officials around the world to implement technology and other best practices in risk management
For many attendees, the need for the air cargo industry to innovate is clear. Industry volumes and revenue are slowing due to manufacturing slowdowns. Many presenters focused in on the need for digitalization in order to create more connected cargo supply chains. E-commerce continues to be viewed as a potential area of growth and support to air cargo demand, though many carriers remain cautious.