With supply chain issues negatively impacting the global economy, it should come to no surprise that the industrials sector has been trading close but better than the overall S&P 500, as the sector is down 10.3% year-to-date, as of Sept. 9. When looking deeper into the industries within the industrials sector, we found that the air freight and logistics industry is down 10.8% year-to-date, lagging behind its own sector.
According to MENAFN, the Global Air Freight Market is estimated to be $288 billion in 2022 and is expected to reach $379 billion by 2027, growing at a CAGR of 5.6%. As the global economy still struggles due to supply chain issues and geopolitical tensions in the Ukraine, air freight and logistics stocks should see steady demand as economic activity picks up.
