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type="application/json">{"props":{"pageProps":{"data":{"category":[{"id":83,"name":"Aerospace and Defense","url":"aerospace-and-defense"},{"id":92,"name":"Agriculture","url":"agriculture"},{"id":94,"name":"Animal Health and Nutrition","url":"animal-health-and-nutrition"},{"id":73,"name":"Automotive","url":"automotive"},{"id":80,"name":"Chemicals and Materials","url":"chemicals-materials"},{"id":79,"name":"Construction","url":"construction"},{"id":84,"name":"Consumer Goods and Services","url":"consumer-goods-and-services"},{"id":77,"name":"Energy and Power","url":"energy-and-power"},{"id":78,"name":"Food and Beverages","url":"food-and-beverages"},{"id":82,"name":"Healthcare","url":"healthcare"},{"id":85,"name":"Industrial Machinery","url":"industrial-machinery"},{"id":81,"name":"Media and Technology","url":"media-and-technology"},{"id":91,"name":"Packaging","url":"packaging"},{"id":93,"name":"Professional Services","url":"professional-services"},{"id":76,"name":"Semiconductors and Electronics","url":"semiconductors-and-electronics"}],"reports":[{"id":11002,"name":"Computer Microchips Market Size – By Chip Type, By Architecture, By Application, By End use – Global Forecast, 2025 – 2034","url":"computer-microchips-market","brief_desc":"The global computer microchips market size was valued at USD 27.7 billion in 2024 and is estimated to grow at 10.7% CAGR from 2025 to 2034. ","no_of_pages":180,"modification_date":"2025-02-17 15:13:32","meta_title":"Computer Microchips Market Size, Share \u0026 Analysis Report-2034","mod_date":"2025-02-17T15:13:32.000Z","publish_date":"February 2025"},{"id":11524,"name":"Shoe Care Market – By Product, By Application, By Price, By Sales Channel– Global Forecast, 2024 – 2032 ","url":"shoe-care-market","brief_desc":"The global shoe care market size was estimated at 4.7 billion in 2023. The market is expected to grow from 4.9 billion in 2024 to 7.3 billion in 2032.","no_of_pages":150,"modification_date":"2025-02-17 15:07:59","meta_title":"Shoe Care Market Size \u0026 Share – Trends Report, 2032","mod_date":"2025-02-17T15:07:59.000Z","publish_date":"February 2025"},{"id":4622,"name":"Disposable Thermometer Market– By Type, By Target Area, By End Use – Global Forecast, 2025 to 2034","url":"disposable-thermometer-market","brief_desc":"The global disposable thermometer market size was valued at USD 271.9 million in 2024 and is expected to exhibit growth at a CAGR of 8.7% from 2025 to 2034 period. ","no_of_pages":155,"modification_date":"2025-02-17 14:53:59","meta_title":"Disposable Thermometer Market Share | Growth Report 2034","mod_date":"2025-02-17T14:53:59.000Z","publish_date":"February 2025"}],"blogs":[{"id":15,"name":"The Expanding Food and Beverages Market: Current Challenges and Innovations","url":"challenges-in-food-and-beverage-industry","auther":"Pooja Sharma","full_desc":"\u003cp\u003eThe food and beverages (F\u0026amp;B) market around the world has witnessed exponential growth, especially during the last two decades. This growth has been substantiated by sustained innovation in processes, products, and services to satisfy changing consumer preferences that evolve at an increasingly faster rate. With increasing demands for diversity and healthy options, producers in the F\u0026amp;B industry are being forced to change even more rapidly. According to the International Food Information Council, which polled for the 2024 survey, the most important factor for American consumers remains healthfulness at 62%, followed closely by convenience at 57% and environmental sustainability at 31%.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eParadoxically, while the sector has achieved tremendous growth, numerous new challenges are emerging. One of the major challenges relates to a relocation in consumer behavior which reveals their increasing desire for nutrients-rich food products such as sugar-free and fat-free products. This is largely because there is increased knowledge about health problems like diabetes and obesity. As a result, food producers are forced to go back to the drawing board in terms of their product manufacturing processes, while still maintaining a focus on the balance between quality and cost efficiency.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003eKey Challenges in the Food and Beverages Industry\u003c/h2\u003e\r\n\r\n\u003ch2\u003e1) Commitment to Sustainability: Navigating the Circular Economy\u003c/h2\u003e\r\n\r\n\u003cp\u003eCompanies now face a pressing challenge to create eco-friendly \u003cstrong\u003e\u003ca href=\"https://www.gminsights.com/industry-analysis/food-packaging-market\"\u003efood packaging\u003c/a\u003e\u003c/strong\u003e. Consumers prefer products with sustainable, recyclable, or biodegradable materials. Environmental promises have become crucial for businesses to stay competitive. They no longer serve as mere marketing tools. PepsiCo\u0026#39;s team-up with Carlsberg Group in early 2022 shows how brands focus on sustainability. This partnership aims to cut down on single-use packaging. These changes match stricter rules in places like the European Union. The EU\u0026#39;s Circular Economy Package requires all plastic packaging to be reusable or recyclable by 2025. F\u0026amp;B companies feel increasing pressure to adopt green practices. Being eco-conscious now gives them an edge over competitors.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp style=\"text-align:center\"\u003e\u003cimg alt=\"Food and Beverages Market\" src=\"https://cdn.gminsights.com/image/blogs/food-and-beverages-market_2.webp\" title=\"Food and Beverages Market\" /\u003e\u003c/p\u003e\r\n\r\n\u003ch2\u003e2) Evolving Consumer Preferences and Health-Conscious Choices\u003c/h2\u003e\r\n\r\n\u003cp\u003eOff late, more and more shoppers worry about health and nutrition, escalating their shift from foods full of fake sweeteners, preservatives, and bad fats. This has caused a big jump in people wanting organic and plant-based options as they see these as a more eco-friendly and healthier alternative. The Organic Trade Association\u0026#39;s 2024 Organic Industry Survey shows that in 2023, U.S. sales of certified organic products hit almost $70 billion setting a new high for the industry. Also, American organic market sales reached $69.7 billion growing by 3.4%.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eAs people around the world pay more attention to their health, the need for plant-based and non-GMO ingredients keeps going up. The boom in \u003cstrong\u003e\u003ca href=\"https://www.gminsights.com/industry-analysis/plant-based-meat-market\"\u003eplant-based meat\u003c/a\u003e\u003c/strong\u003e substitutes because of worries about how we treat animals, has changed the food scene even more.\u0026nbsp;\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026bull; Plant-based food e-commerce sales hit $394 million in 2023.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026bull; These sales grew by 16.4% over three years.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026bull; Plant-based foods grabbed a 6.8% online market share beating retail\u0026#39;s 3.8% and doing better than online animal-based food sales.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026bull; Retail sales of plant-based foods added up to $8.1 billion in 2023.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026bull; 62% of U.S. homes buy plant-based products.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026bull; 81% of these homes keep buying plant-based products after their first purchase.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003ePlant Based Foods Association\u003c/h2\u003e\r\n\r\n\u003ch2\u003e3) Regulatory Challenges: Evolving Standards for Labeling and Safety\u003c/h2\u003e\r\n\r\n\u003cp\u003eFood and Beverage is one of the most controlled industries in the world, governed by the regulations of major agencies such as the FDA, EPA, and FTC which focus on food safety, health, as well as labeling standards. Though, in 2024, things are changing very quickly. New standards regarding food packaging, such as the nutritional information that needs to be present, are changing the way many companies design and advertise their products.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eAs an example of this, in December 2024, the FDA released a new rule that allows food manufacturers to include the word \u0026ldquo;healthy\u0026rdquo; on the food packaging which they are already using for marketing purposes. The new criteria are now in accordance with contemporary nutritional science as well as the Federal dietary guidelines.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eFor a food product to be marketed with the word \u0026ldquo;healthy\u0026rdquo;, it would require all of the following:\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026bull; Contain a specified amount of food from at least one of the food groups or subgroups suggested by the Dietary Guidelines for Americans like vegetables, fruits, grains, low-fat or fat-free dairy, protein foods.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026bull; Be within the limits set for added sugars, saturated fat, and sodium.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eOn the other hand, there has been an increasing movement in carbon labeling, and brands such as Oatly are leading the charge for disclosing the carbon content in their products.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003e4) The Impact of Digital Transformation\u003c/h2\u003e\r\n\r\n\u003cp\u003eThe F\u0026amp;B sector underwent a drastic technology change owing to the rapid spread of the COVID-19 pandemic as AI, machine learning, and blockchain were integrated into daily operations for better engagement with customers. Companies are expected to adopt predictive analytics and transform traditional systems into digital ones which will allow the businesses to reduce waste and boost the overall productivity of the supply chain.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eWith personalized marketing on the rise as businesses are now able to leverage customer data for their benefits, in the same time frame, December 2024 marked the launch of Quick Analytics for Food and Beverage by Parrot Social, a tool aimed towards small and medium-sized businesses to make their lives easier. Now, these companies have the means to afford minute-to-minute AI analysis of their consumers.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eRegardless of these benefits, there will always be challenges that accompany them like integrating these new technologies with older systems which require major funds as well as the data security and privacy issues that arise as cyber threats and data breaches are always a risk for F\u0026amp;B companies.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003e5) Economic Pressures and Inflationary Trends\u003c/h2\u003e\r\n\r\n\u003cp\u003eInflation continues to weigh on the food and beverage sector by exerting purchasing power pressures. The sharp rise in prices of raw materials post-disruptions, such as the 2022 Russia-Ukraine war, is adversely affecting ingredient prices as of 2024. The pressure of labor shortages created by a global chain-supply interruption, underlined by fluctuating energy prices, has had an overall net effect of adding to the costs incurred by these manufacturers and distributors. According to the 2020 labor market survey conducted by Food Processing Skills Canada, considerable shortages in the job market were noted in food and beverages. The FPSC Labor Market Information Survey, which included 740 firms, revealed that 70 percent reported labor shortages. Estimates suggest that these shortages were anticipated to reach a peak level of 65,000 workers during 2025.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eInflation is impacting consumer purchasing power and with it, companies offer strategies: vertical merger and strategic pricing to stay profitable. Labor shortages in regional areas like North America and the UK, the F\u0026amp;B sector is suffering a great deal of financial strain with over USD 1.77 billion loss due to a shortage of skilled workers as reported by the Food and Drink Federation (FDF).\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003eLooking Ahead: The Future of the Food and Beverages Industry\u003c/h2\u003e\r\n\r\n\u003cp\u003eDespite these challenges, the future of the food and beverages industry starves into great prospects. An advantage has changed along the lines of innovations and alternation with clarity offering better health practices in more environment-friendly procedures till now through diversifying their offers. One that will strongly reap the benefits of digital transformation will be left behind in innovating their business course through ensuring a clean and green technologies flow for the future.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eMeeting consumer demands while complying with regulatory standards, integrating sustainability into the equation, and economizing will assure the success of the F\u0026amp;B industry in 2024. It is, therefore, the shining star in propelling the industry into a new-age era of growth and innovation to provide technologically advanced, changing lifestyle patterns for an economically starved consumer sector.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n","meta_title":"Current issues in food and beverage industry 2025 \u0026 beyond","meta_keywords":"Food and Beverages Industry, Food and Beverages Sector, Sustainability, issues in food and beverage industry, challenges in food and beverage industry","meta_description":"The food \u0026 beverage market is shifting towards sustainability, health-focused products, and digitalization. This blog explains the latest trends, challenges and issues in the F\u0026B industry.","published_date":"February 3, 2025"},{"id":158,"name":"Aviation Industry 2025: Navigating Challenges and Seizing Opportunities","url":"top-challenges-of-aviation-industry","auther":"Pooja Sharma","full_desc":"\u003cp\u003eBy connecting people, goods, and ideas worldwide, the aviation industry continues to sustain itself as a key pillar of economic growth. Air travel facilitates the movement of goods, people, capital, and technology, thus enabling globalization and creating favorable growth prospects for several industries, including trade and e-commerce.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eHowever, due to the urgent need to address climate change and the lingering effects of the pandemic, the industry faces a series of challenges. Although the sector exhibited a strong recovery trend over the years, several issues need to be taken care of to stay on the path of continued growth.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003eAir Cargo: A Crucial Component of Global Trade\u003c/h2\u003e\r\n\r\n\u003cp\u003eDuring the COVID-19 outbreak, \u003cstrong\u003e\u003ca href=\"https://www.gminsights.com/industry-analysis/air-cargo-market\"\u003eair cargo\u003c/a\u003e\u003c/strong\u003e emerged as a pivotal part of global trade and continues to exhibit a positive growth trend. Despite their capability to handle smaller volumes than sea and land freight, air cargo remains crucial for hauling high-value goods, thus favoring the e-commerce industry. It is also a key revenue source for airlines.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eAccording to the International Air Transport Association (IATA), in June 2024, global air cargo demand increased by 14.1% year-over-year (YoY), setting a record for the first half of the year. Adjusted data demonstrates a steady 0.9% month-over-month rise. International air cargo volumes recorded a 15.6% increase compared to June 2023, with all regions and trade routes experiencing strong growth. Carriers in the Asia Pacific and Latin America documented the highest gains, while demand on routes such as Africa-Asia and Middle East-Europe soared by over 30% YoY.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eThis strong performance emphasizes the critical role of air cargo in global supply chains. As manufacturing and production processes become increasingly globalized, the demand for air freight is expected to grow. The industry\u0026rsquo;s ability to adapt and meet these demands is essential for supporting global trade and driving economic development.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp style=\"text-align: center;\"\u003e\u003cimg alt=\"Aviation Industry\" src=\"https://cdn.gminsights.com/image/blogs/aviation-industry.webp\" title=\"Aviation Industry\" /\u003e\u003c/p\u003e\r\n\r\n\u003ch2\u003eFuel Price Volatility and Geopolitical Tensions Challenge Airlines\u003c/h2\u003e\r\n\r\n\u003cp\u003eFluctuations in fuel prices are another key challenge airlines grapple with. IATA estimates reveal that the average fuel cost in August 2024 stood at $2.47 per gallon. This reflects a 4.3% drop from July\u0026rsquo;s $2.58 and a 26.9% rise compared to August 2019. On a year-over-year basis, domestic fuel costs in August 2024 declined by 14.1%, with the cost per gallon dropping by 14.0%.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eCross-border disturbances such as tensions in the Middle East and the Russia-Ukraine conflict create financial uncertainty for airline companies, further contributing to the unpredictability of oil prices. To counter this, several airlines are partnering and forming alliances to negotiate better \u003cstrong\u003e\u003ca href=\"https://www.gminsights.com/industry-analysis/aviation-fuel-market\"\u003eaviation fuel\u003c/a\u003e\u003c/strong\u003e prices through collective bargaining. Strategies like fuel hedging and joint purchasing agreements help manage price volatility. For instance, in 2022, some African airlines successfully collaborated to navigate a fuel crisis.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003eEconomic Uncertainty and Inflationary Pressures on Airline Operations\u003c/h2\u003e\r\n\r\n\u003cp\u003eGlobal economic trends have posed a new challenge to the aviation industry. Rising inflationary pressures have accelerated a shift in consumer expenditure patterns, resulting in mindful spending on travel and leisure. Lately, airlines have been grappling with the challenge of managing increased operational costs while stimulating passenger demand amid an unsteady economic landscape.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eAccording to the Bureau of Labor Statistics, in 2023, airline ticket prices saw a significant rise, with the consumer price index increasing by 25%. Airfares surged by 18.6% in April alone. Rising fuel costs, labor expenses, and ancillary service charges, all compounded by inflation, are pressuring airlines to optimize operations and adjust ticket pricing to remain competitive. IATA reports that jet fuel prices have almost skyrocketed by 150% in 2023.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eIn response, airlines are implementing strategic cost-management measures such as fuel hedging, dynamic pricing models, and enhanced route optimization. Moreover, collaborations with local tourism boards and travel agencies have emerged as crucial strategies to boost consumer confidence and stimulate demand.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eQuoting an instance, in October 2024, Hyatt Hotels and American Airlines announced the revision of their loyalty program collaboration. The two further unveiled their plans to enhance redemption options and status benefits for their most frequent travelers in 2025. As airlines accentuate their efforts toward balancing operational efficiency with consumer affordability, addressing economic uncertainty remains a key focus area for the industry in the coming years.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003eGlobal Conflicts Disrupt Air Travel\u003c/h2\u003e\r\n\r\n\u003cp\u003eOngoing geopolitical tensions, including the Russia-Ukraine war and the Israel-Hamas conflict had a devastating impact on international air travel and trade routes. These events led to flight cancellations and routes, eventually resulting in financial losses for airlines operating in affected regions. IATA data unveils that as of March 2022, 36 countries, including EU nations, the UK, and the US, had closed their airspace to Russian airlines. Following the onset of the Russia-Ukraine conflict, domestic ticket sales dropped to 40% below 2019 levels.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eLately, airlines are getting grips with the aftermath of these conflicts, including no-fly zones and rising fuel prices. Hedging strategies have become a critical tool for managing fuel price volatility. For example, Air Canada and Air Shuttle have reported profits in recent years by effectively using risk management techniques.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003eLabor Shortages Plague the Aviation Sector\u003c/h2\u003e\r\n\r\n\u003cp\u003eThe aviation industry is facing a dearth of skilled professionals, including pilots, maintenance technicians, and air traffic controllers. IATA predicts that the aviation industry will need around 800,000 new pilots by 2039. Boeing\u0026rsquo;s Pilot and Technician Outlook predicts an even greater demand, projecting the need for 674,000 new pilots, 716,000 maintenance technicians, and 980,000 cabin crew members globally by 2042.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eIn 2024, this workforce gap continues to restrict the industry\u0026rsquo;s ability to scale operations effectively. Airbus\u0026rsquo; Global Services Forecast (GSF) 2023 emphasizes the urgent requirement to address this gap, forecasting the replacement of over 17,000 aircraft between 2023 and 2042 due to fleet modernization and investments in next-generation aircraft.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003eInfrastructure Strains Under Growing Passenger Demand\u003c/h2\u003e\r\n\r\n\u003cp\u003eThe commendable rise in air travel, especially across developing regions, has put immense pressure on airport infrastructure, with challenges such as runway shortages, terminal congestion, and outdated \u003cstrong\u003e\u003ca href=\"https://www.gminsights.com/industry-analysis/aircraft-ground-handling-system-market\"\u003eaircraft ground handling systems\u003c/a\u003e\u003c/strong\u003e taking center stage.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eAccording to Airports Council International (ACI) Asia-Pacific \u0026amp; Middle East, the Asia-Pacific region is expected to account for 40% of global air passengers by 2042. Passenger numbers are projected to exceed 8.7 billion by 2042 from an estimated 3.4 billion in 2023. To adapt to this growth, significant investments in airport infrastructure are crucial. ACI\u0026rsquo;s long-term forecast estimates a global capital expenditure of $2.4 trillion, with $1.3 trillion allocated to the Asia-Pacific region, including $579 billion for greenfield airport development.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eIn particular, Southeast Asia is experiencing runway shortages in fast-growing economies. As passenger volumes continue witnessing an upward trend, substantial investments in airport infrastructure will be critical to meet demand.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003eCybersecurity: A Growing Concern for Aviation\u003c/h2\u003e\r\n\r\n\u003cp\u003eWith hackers increasingly targeting airlines and airports, cybersecurity threats are becoming a major concern for the aviation industry. ICAO data shows 52 aviation-related cyberattacks in 2020, 48 in 2021, and 50 by August 2022. In August 2022 alone, seven attacks had significant impacts. Cyberattacks on the aviation sector surged by 24% globally in the first half of 2023.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eIn September 2023, a DDoS attack on the Leonardo airline booking system disrupted operations for about an hour, affecting airlines like Rossiya Airlines, Pobeda, and Aeroflot. This incident caused delays of up to an hour at Moscow\u0026rsquo;s busiest airport. To safeguard operations and passenger data, the aviation industry must prioritize cybersecurity investments and implement robust protections against emerging threats.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003eAirlines Commit to Sustainability Amid Climate Concerns\u003c/h2\u003e\r\n\r\n\u003cp\u003eSustainability remains a top priority for the aviation industry in 2024. With aviation contributing significantly to global emissions, airlines are under increasing pressure to reduce their carbon footprint. Achieving the industry\u0026rsquo;s net-zero CO2 emissions goal by 2050 will require advancements in sustainable aviation technologies, alternative fuels, and energy-efficient aircraft.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eIn November 2024, International Airlines Group (IAG) announced a 10-year partnership with e-SAF producer Infinium to supply power-to-liquid \u003cstrong\u003e\u003ca href=\"https://www.gminsights.com/industry-analysis/sustainable-aviation-fuel-market\"\u003esustainable aviation fuel (SAF)\u003c/a\u003e\u003c/strong\u003e to the UK market starting in late 2026. Infinium\u0026rsquo;s e-SAF, made from water, waste CO?, and renewable energy, is expected to reduce lifecycle greenhouse gas emissions by 90% compared to conventional jet fuel. This agreement will support IAG\u0026rsquo;s five airlines: Aer Lingus, British Airways, Iberia, LEVEL, and Vueling. In 2023, IAG accounted for about 12% of the global SAF supply.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eAs climate change leads to more frequent extreme weather events and rising sea levels, the aviation sector\u0026rsquo;s commitment to sustainability is crucial. These efforts not only address environmental concerns but also ensure the industry\u0026rsquo;s long-term viability in global trade.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003eAviation Industry: Redefining the future\u003c/h2\u003e\r\n\r\n\u003cp\u003eThe aviation industry is navigating a complex landscape filled with challenges but also significant opportunities. From managing fuel price volatility and geopolitical tensions to addressing labor shortages and infrastructure constraints, airlines and stakeholders must remain adaptable to succeed.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eDespite these hurdles, the sector continues to demonstrate resilience. The global recovery in air travel, the critical role of air cargo in international trade, and advancements in aviation technology all point to a bright future. With strategic investments in sustainability and workforce development, the aviation industry is well-positioned for dynamic and sustainable growth in the years ahead.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n","meta_title":"Aviations Post-Pandemic Recovery: Passenger Traffic \u0026 Growth Trends","meta_keywords":"Aviation Industry, Aviation Sector, Sustainability, issues in the aviation industry, Challenges in Aviation industry, airline industry challenges","meta_description":"The aviation industry is evolving with new challenges and opportunities, adapting to uncertainties with innovation and resilience.","published_date":"February 3, 2025"},{"id":163,"name":"The Automotive Industry in 2024: Challenges and Transformations","url":"top-challenges-in-the-automotive-industry-pre-COVID","auther":"Pooja Sharma","full_desc":"\u003cp\u003eThe sudden onset of the COVID-19 pandemic, followed by its after-effects, led to a significant economic downturn and had a lasting impact on the global industrial landscape. The automotive sector, along with several other industries, was among the worst affected. The industry faced numerous challenges ranging from supply chain complexities to changes in consumer buying patterns.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eThat being said, the automotive industry has made significant progress over the last few years, primarily due to a noticeable rise in vehicle production and sales. According to OICA, global vehicle sales reached\u0026nbsp; 92,724,668 units in 2023 from an estimated 82,871,094 units in 2022. These figures depict a surge in global demand and a change in consumer behavior.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp style=\"text-align:center\"\u003e\u003cimg alt=\"Top 5 problems in the automotive industry\" src=\"https://cdn.gminsights.com/image/blogs/automotive-markets_1.webp\" title=\"Top 5 problems in the automotive industry\" /\u003e\u003c/p\u003e\r\n\r\n\u003cp\u003eAs we move into 2024, the automotive industry is navigating a landscape of recovery, innovation, and challenges.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003eTop 5 Challenges in the Automotive Industry\u003c/h2\u003e\r\n\r\n\u003col\u003e\r\n\t\u003cli\u003e\r\n\t\u003ch3\u003eSustainability Targets and Regulatory Pressures\u003c/h3\u003e\r\n\t\u003c/li\u003e\r\n\u003c/ol\u003e\r\n\r\n\u003cp style=\"margin-left:.25in\"\u003eSustainability is still the top priority for the automotive industry. Regulatory bodies worldwide are getting stricter with emission standards and sustainability goals. For example, in April 2023, the European Parliament and the Council updated Regulation (EU) 2019/631 to strengthen CO2 emission performance standards for new vans and passenger cars to meet the EU\u0026rsquo;s goal of being climate neutral by 2050. The amendment tightened 2030 targets and introduced a 100% reduction for both cars and vans by 2035.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp style=\"margin-left:.25in\"\u003eAutomakers are investing heavily in electric vehicle (EV) technologies to meet these regulations. For example, Volvo Cars plans to electrify 90 to 100% of its global sales by 2030 and achieve net zero greenhouse emissions by 2040. The circular economy is also gaining momentum, with companies like Nissan pledging to use 40% sustainable materials (by weight) in vehicles manufactured in Japan, the US, Europe, and China.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp style=\"margin-left:.25in\"\u003eSimilarly, Hyundai Mobis launched a comprehensive strategy to develop sustainable and recyclable materials for future mobility in September 2024. This is part of the company\u0026rsquo;s overall effort to stay ahead of global regulations by 2030 and strengthen its competitiveness in electrification and electronic components. The strategy is divided into three main pillars: sustainable materials, innovative materials, and digital materials. This will secure the company\u0026rsquo;s independent competitiveness in materials, components, and equipment (MCE) and respond to the growing demand for eco-friendly solutions.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp style=\"margin-left:.25in\"\u003eSuch moves require big investments in research, production facilities, and consumer education. Hence, automakers need to innovate while making profits.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003col\u003e\r\n\t\u003cli\u003e\r\n\t\u003ch3\u003eTechnological Disruptions and Consumer Expectations\u003c/h3\u003e\r\n\t\u003c/li\u003e\r\n\u003c/ol\u003e\r\n\r\n\u003cp style=\"margin-left:.25in\"\u003eAutomotive technology is evolving fast, and consumer expectations are changing. Electric vehicles (EVs),\u003cstrong\u003e\u003ca href=\"https://www.gminsights.com/industry-analysis/adas-market\" target=\"_blank\"\u003e advanced driver-assistance systems (ADAS)\u003c/a\u003e\u003c/strong\u003e, and connectivity features now top the market demand. Automakers are responding with big R\u0026amp;D investments. BYD\u0026rsquo;s announcement to invest $14 billion in smart car technology, including \u003cstrong\u003e\u003ca href=\"https://www.gminsights.com/industry-analysis/autonomous-driving-software-market\" target=\"_blank\"\u003eautonomous driving software\u003c/a\u003e\u003c/strong\u003e and driver-assistance systems, in January 2024 is a testimony of the industry\u0026rsquo;s commitment to innovation. However, a transition toward electric vehicles from internal combustion engines is extremely challenging.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp style=\"margin-left:.25in\"\u003eWhile EV sales recorded an upward trend in regions like China\u0026mdash;with new electric car registrations registering a 35% growth in 2023 over 2022\u0026mdash;automobile manufacturers are grappling with high costs and delayed timelines. Quoting an instance, in September 2024, the world\u0026#39;s largest automaker Toyota announced its plans to produce 1 million EVs in 2026, a revision from its previously announced sales target of 1.5 million. Such instances underline the difficulties of scaling production and supply chain complexities. These challenges underscore the financial and operational complexities of embracing electric mobility.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003col\u003e\r\n\t\u003cli\u003e\r\n\t\u003ch3\u003eLabor Shortages and Skill Gaps\u003c/h3\u003e\r\n\t\u003c/li\u003e\r\n\u003c/ol\u003e\r\n\r\n\u003cp style=\"margin-left:.25in\"\u003eLabor shortages are a looming challenge for the automotive industry, especially in developed economies like Europe and the U.S. The Institute of the Motor Industry (IMI) forecasts that the automotive retail sector will produce around 557,484 jobs by 2031, a 2% decline from 2021.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp style=\"margin-left:.25in\"\u003eDespite this decline, the replacement of the existing workforce continues to be a major undertaking. IMI data shows that over the next ten years, due to retirements, migration, and other factors, 111,400 jobs will need to be filled.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp style=\"margin-left:.25in\"\u003eThis broadening workforce gap slows down innovation, impacts production, and increases costs. In response to this, automakers and suppliers are collaborating with educational institutions. Quoting an instance, in December 2024, the University of Tennessee joined hands with the Alliance for Automotive Innovation. This new partnership, led by the auto industry\u0026rsquo;s top trade association, brings together universities across the country to focus on automotive policy research, encourage innovation, boost workforce training, and influence government policy. The University of Tennessee becomes the first to become a part of this initiative.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp style=\"margin-left:.25in\"\u003eIn addition to strategic alliances, automakers are accelerating their transition toward advanced robotics and hands-on vocational training to fill the skills gap and maintain the industry\u0026rsquo;s sustainability.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003col\u003e\r\n\t\u003cli\u003e\r\n\t\u003ch3\u003eGeopolitical Tensions and Supply Chain Disruptions\u003c/h3\u003e\r\n\t\u003c/li\u003e\r\n\u003c/ol\u003e\r\n\r\n\u003cp style=\"margin-left:.25in\"\u003eGeopolitical conflicts like Russia\u0026rsquo;s invasion of Ukraine and the Israel-Hamas conflict have resulted in global supply chain disruptions, significantly impacting the automotive industry. These uncertainties have messed up the production of components, oil exports, and logistics, slowing down car manufacturing worldwide. For instance, before the Russia-Ukraine war in 2022, Russia heavily relied on Western imports for auto parts, as the country\u0026#39;s domestic car production was sustained by partnerships with foreign corporations. After the war began, Western companies withdrew, leaving Russia\u0026rsquo;s car manufacturing in bedlam and halting production.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp style=\"margin-left:.25in\"\u003eSemiconductor shortage is another critical issue. Israel, being a pivotal player in chip manufacturing, has faced upheavals that have hindered vehicle production globally. In response, automakers are rerouting supply chains and ramping up local production. While these efforts help reduce risks, they often come with a higher price tag.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003col\u003e\r\n\t\u003cli\u003e\r\n\t\u003ch3\u003eRising Threat of Cybersecurity Breaches\u003c/h3\u003e\r\n\t\u003c/li\u003e\r\n\u003c/ol\u003e\r\n\r\n\u003cp\u003eWith the growing trend of connected vehicles and the increasing reliance on digital technologies, cybersecurity threats have become commonplace. Based on estimations by Upstream Security, in 2023, large-scale cyber incidents in the automotive sector registered more than two-fold growth compared to 2022. Alarmingly, 95% of these attacks were carried out remotely, with hackers exploiting vulnerabilities in infotainment systems, telematics, and autonomous technologies. These breaches can allow attackers to take control of critical systems, steal data, or disrupt operations.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eEV charging stations and \u003cstrong\u003e\u003ca href=\"https://www.gminsights.com/industry-analysis/automotive-vehicle-to-everything-market\" target=\"_blank\"\u003eautomotive vehicle-to-everything (V2X)\u003c/a\u003e\u003c/strong\u003e communications are particularly vulnerable. This has prompted automakers to invest in advanced cybersecurity measures, such as robust telematics and 5G technology, to protect vehicles from these growing cybersecurity threats.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003eNavigating the Road Ahead\u003c/h2\u003e\r\n\r\n\u003cp\u003eThe automotive industry is facing a predicament, navigating rapid technological changes, stricter regulations, and shifting market needs. Addressing these concerns will require smart strategies, sustainable practices, and skilled workforces. But there are ample opportunities for those ready to innovate.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eFor instance, in early 2025, South Korea\u0026rsquo;s Hyundai announced a massive $9 billion investment in next-gen technologies, including electric vehicles, hydrogen-powered systems, and software-defined vehicles. Similarly, in 2024, Toyota expanded its focus on hydrogen by rebranding its California R\u0026amp;D office as the North American Hydrogen Headquarters (H2HQ), reflecting its commitment to alternative energy.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eThese developments underscore the expanding role and growing potential of clean energy in shaping the future of the automotive industry. Despite challenges, the path ahead is filled with potential for transformative growth, with innovation and sustainability leading the way.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n","meta_title":"Top 5 Challenges in the Automotive Industry in 2024: Sustainability, Tech, and More","meta_keywords":"Automotive Market, Automotive Sector, Automotive Industry, Electric vehicle, Sustainability, issues in the automotive industry, problems in automotive industry","meta_description":"From stricter emissions regulations to supply chain disruptions, learn how the automotive industry is tackling its biggest challenges in 2024 while embracing innovation and sustainability.","published_date":"February 3, 2025"}]},"success":"True","query":{}},"__N_SSP":true},"page":"/","query":{},"buildId":"gMjKCLn5exlmiiUGJRRJK","isFallback":false,"dynamicIds":[57719,34916,72828,64668,20843,53505,18439,26614,46133,68457,74718,56924,78385,7983,7446],"gssp":true,"scriptLoader":[]}</script></body></html>