Global Air Cargo Market

Air Cargo Market Size, Share, Growth Analysis, By Type of cargo(General cargo, perishable goods, pharmaceuticals, e-commerce parcels), By Service type(Express delivery, freight forwarding, charter services, and courier services), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20R2033 | Region: Global | Published Date: March, 2024
Pages: 202 |Tables: 68 |Figures: 74

Air Cargo Market Insights

Global Air Cargo Market size was valued at USD 131.09 Billion in 2022 and is poised to grow from USD 138.69 Billion in 2023 to USD 217.74 Billion by 2031, at a CAGR of 5.80% during the forecast period (2024-2031).

The global air cargo market is a vital and dynamic industry that plays a crucial role in facilitating international trade and connecting businesses across the world. With a compelling market introduction, the purpose of this market is to efficiently transport goods and merchandise via air carriers to various destinations, ensuring timely deliveries and seamless supply chain operations. As businesses strive for globalization and quick transportation of goods, the air cargo market emerges as a key player in meeting their demands. The market is driven by several factors that contribute to its growth and significance. Firstly, the increasing globalization of businesses has led to a surge in cross-border trade and the need for expedited shipping methods. Air cargo offers unparalleled speed and efficiency, allowing companies to transport time-sensitive goods and perishable items, minimizing inventory holding costs and maintaining product freshness. Secondly, the e-commerce boom has significantly impacted the air cargo market, with the rise in online shopping driving the demand for fast and reliable delivery options. Air cargo serves as a critical enabler for e-commerce companies, enabling them to fulfill orders quickly and meet customer expectations.

While the global air cargo market presents immense opportunities, there are also a few restraints to consider. One of the key challenges is the volatility of fuel prices, which directly impacts the operating costs of air carriers. Fluctuating fuel prices can affect profitability and result in increased shipping costs for businesses. Additionally, regulatory restrictions, security concerns, and the risk of geopolitical tensions can create obstacles for the air cargo industry. However, despite these challenges, the market continues to exhibit key trends that drive its growth. These include the adoption of advanced technologies like automation, robotics, and artificial intelligence to optimize cargo handling and improve operational efficiency. Furthermore, sustainability and environmental considerations have become prominent, leading to the exploration of eco-friendly alternatives in the air cargo sector. The global air cargo market presents numerous opportunities for businesses to expand their operations and leverage the benefits of swift and reliable transportation. Companies can tap into this market to reach new markets, expand their customer base, and enhance their global supply chain capabilities. Moreover, the market offers prospects for collaboration and partnerships, as air cargo carriers and logistics providers strive to create seamless end-to-end solutions for businesses. With an estimated market size of over $120 billion by 2025, the global air cargo market provides a compelling avenue for companies to maximize their logistical efficiency, reduce transit times, and ultimately drive economic growth in a rapidly evolving global marketplace.

US Air Cargo Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 131.09 Billion

Largest Segment

general cargo

Fastest Growth

general cargo

Growth Rate

5.80% CAGR

Global Air Cargo Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Air Cargo Market Segmental Analysis

The global air cargo market is segmented on the basis of type of cargo, service type, and region. By type of cargo, the market is segmented into general cargo, perishable goods, pharmaceuticals, e-commerce parcels, automotive parts, electronics, and Others. By service type, the market is segmented into express delivery, freight forwarding, charter services, and courier services. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Air Cargo Market Analysis By Type of Cargo

Within the global air cargo market, the largest segment is general cargo, encompassing a wide range of goods and merchandise. General cargo represents the foundation of the air cargo industry, catering to diverse industries and meeting various transportation needs. This segment includes items such as machinery, textiles, consumer goods, and industrial products. With its broad scope and extensive demand, general cargo drives the majority of air cargo shipments worldwide. The prominence of general cargo in the market is driven by its versatility and widespread applicability. Companies across industries rely on air cargo services to transport their general cargo efficiently and securely. From small businesses shipping their products to international markets to large corporations managing complex supply chains, general cargo serves as a vital link in their operations. The reliance on air transport for general cargo is fueled by the need for swift deliveries, reduced lead times, and the ability to reach distant markets with ease.

In addition to the largest segment, one of the fastest-growing segments in the global air cargo market is e-commerce parcels. The exponential growth of online shopping has revolutionized the retail landscape, creating a surge in demand for air cargo services to fulfill e-commerce orders. E-commerce parcels encompass a wide range of products, including clothing, electronics, household items, and more. With the rise of global online marketplaces and the increasing consumer expectations for fast deliveries, e-commerce companies heavily rely on air cargo to ensure timely shipments to customers around the world. The fast-paced growth of e-commerce parcels in the air cargo market is driven by several factors. Firstly, the convenience and accessibility of online shopping have transformed consumer behavior, with more people opting for the ease of purchasing products from the comfort of their homes. This has resulted in a significant increase in parcel volumes that require efficient and expedited transportation. Secondly, the competitive nature of the e-commerce industry necessitates swift order fulfillment to gain a competitive edge. Air cargo enables e-commerce companies to meet customer expectations of fast shipping, enhancing customer satisfaction and loyalty.

Air Cargo Market Analysis By Service Type

Within the global air cargo market, the largest segment is express delivery. The demand for fast and reliable transportation services has propelled the express delivery segment to the forefront of the industry. Express delivery services cater to time-sensitive shipments, offering expedited delivery options for businesses and consumers alike. The dominance of the express delivery segment can be attributed to several factors. Firstly, the rise of e-commerce has fueled the need for rapid order fulfillment and last-mile delivery. As online shopping continues to grow exponentially, customers expect their purchases to arrive quickly. Express delivery services ensure that goods reach their destinations within short time frames, meeting the expectations of time-sensitive customers and enabling e-commerce companies to maintain a competitive edge. Secondly, globalization and the increasing interconnectedness of economies have amplified the demand for express delivery services. Companies operating in multiple countries require a reliable and efficient logistics partner to transport their goods swiftly. Express delivery providers offer seamless international shipping solutions, enabling businesses to expand their global reach and capitalize on emerging market opportunities.

While express delivery is the largest segment, the fastest-growing segment in the global air cargo market is freight forwarding. Freight forwarding services specialize in managing the transportation and logistics of cargo on behalf of businesses. With globalization driving trade volumes, the freight forwarding segment is witnessing rapid growth as companies seek professional expertise to navigate complex supply chains and ensure smooth cargo movements. The growth of the freight forwarding segment is fueled by several factors. Firstly, businesses are increasingly outsourcing their logistics operations to experts who can optimize supply chain processes, handle customs regulations, and coordinate multimodal transportation. Freight forwarding services provide comprehensive solutions that encompass warehousing, documentation, and risk management, allowing companies to focus on their core competencies. Furthermore, emerging economies and developing markets are experiencing robust trade growth, creating opportunities for freight forwarding services. As these regions become integral players in global supply chains, businesses rely on freight forwarders to navigate the complexities of diverse markets and ensure efficient delivery of goods. The expansion of e-commerce platforms in these regions also contributes to the demand for freight forwarding services, as companies seek to meet the logistics requirements of cross-border trade.

Global Air Cargo Market By Type, 2022 (%)

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Air Cargo Market Regional Insights

Asia-Pacific, the powerhouse of international trade, holds the largest market share in the global air cargo market. With booming economies like China and India, the region has witnessed a remarkable surge in manufacturing, exports, and e-commerce activities. The rapid growth of these economies has fueled the demand for air cargo services to transport goods efficiently across the globe. For example, China's Alibaba Group, one of the world's largest e-commerce companies, heavily relies on air cargo to deliver millions of packages daily to customers worldwide. With an expanding middle class and increased consumer purchasing power, Asia-Pacific is set to maintain its dominance in the global air cargo market, capturing a substantial market share and presenting attractive opportunities for both domestic and international businesses.

On the other hand, the Middle East and Africa emerges as the fastest growing region in the global air cargo market, exhibiting significant potential for future expansion. With a rapidly growing population and a burgeoning consumer market, the demand for imported goods and perishable items is on the rise. Air cargo plays a vital role in connecting Africa with the rest of the world, enabling the timely delivery of essential commodities, medical supplies, and high-value goods. For instance, Ethiopian Airlines Cargo has become a major player in the African air cargo market, capitalizing on the continent's growing economic development and becoming a strategic hub for transcontinental cargo flows. With the continent's economic growth and the implementation of trade facilitation measures, Africa is expected to witness robust growth in air cargo transportation, attracting investments and increasing its market share in the global arena.

Global Air Cargo Market By Geography, 2024-2031
  • Largest
  • Fastest

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Air Cargo Market Dynamics

Air Cargo Market Drivers

E-commerce Boom

  • The exponential growth of e-commerce is a significant driver for the air cargo market. The rise of online shopping has led to increased demand for efficient and speedy delivery of goods worldwide. Air cargo offers the advantage of fast transportation, enabling companies to meet the expectations of customers for quick delivery. For example, companies like Amazon heavily rely on air cargo services to ensure timely delivery of their products to customers.

Air Cargo Market Restraints

Capacity Constraints

  • The air cargo market faces challenges related to limited capacity and infrastructure constraints. The availability of cargo space is limited compared to passenger flights, and airports need to invest in infrastructure to handle increasing cargo volumes. During peak seasons or unforeseen events, such as natural disasters or global crises, capacity constraints can lead to delays and higher costs. The COVID-19 pandemic, for instance, caused a significant reduction in passenger flights, which impacted air cargo capacity and led to supply chain disruptions.

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Air Cargo Market Competitive Landscape

The global air cargo market is a highly competitive landscape, characterized by the presence of numerous major players and regional carriers. The market analysis reveals that key players in the industry are focused on expanding their global networks, enhancing operational efficiency, and adopting advanced technologies to gain a competitive edge. Established players such as FedEx Corporation, United Parcel Service (UPS), DHL International GmbH, and Cathay Pacific Airways Limited dominate the market with their extensive networks, strong brand presence, and efficient logistics capabilities. These companies offer a wide range of air cargo services, including express delivery, freight transportation, and specialized logistics solutions. Additionally, there is a growing presence of regional carriers and niche players that cater to specific markets or industries. The competitive landscape is further intensified by the emergence of e-commerce giants such as Amazon, which are expanding their own logistics networks to handle their increasing air cargo demands.

Air Cargo Market Top Player’s Company Profile

  • Emirates SkyCargo (UAE)
  • Cathay Pacific Airways Limited (Hong Kong)
  • Korean Air Cargo (South Korea)
  • Cargolux Airlines International S.A. (Luxembourg)
  • Lufthansa Cargo AG (Germany)
  • Singapore Airlines Cargo (Singapore)
  • Air France-KLM Cargo (France/Netherlands)
  • China Airlines Cargo (Taiwan)
  • Qatar Airways Cargo (Qatar)
  • Turkish Airlines Cargo (Turkey)
  • British Airways World Cargo (UK)
  • Japan Airlines Cargo (Japan)
  • All Nippon Airways (ANA) Cargo (Japan)
  • LATAM Cargo (Chile)
  • Saudi Arabian Airlines Cargo (Saudi Arabia)
  • Atlas Air Worldwide Holdings, Inc. (US)
  • Ethiopian Airlines Cargo & Logistics Services (Ethiopia)

Air Cargo Market Recent Developments

  • In April 2023, global air cargo demand declined by 6.6% compared to April 2022. However, this represents a continued improvement from the double-digit annual contractions of CTKs experienced earlier in 2023.
  • In March 2023, air cargo demand in Africa-Asia was the only route area that registered positive growth compared to a year before.
  • In April 2022, Global air cargo demand declined by 6.6% year-over-year in April, but this represented a continued improvement from the double-digit annual contractions of CTKs experienced earlier.

Air Cargo Key Market Trends

  • Digitization and Automation: The air cargo industry is adopting digitization and automation to improve efficiency and streamline processes. Technologies such as blockchain, Internet of Things (IoT), and artificial intelligence (AI) are being utilized to enhance supply chain visibility, track shipments in real time, optimize route planning, and automate documentation processes. For instance, digital platforms like Cargo.one and WebCargo enable airlines and freight forwarders to book cargo space digitally, reducing manual efforts and improving operational efficiency.

Air Cargo Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Type of cargos team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global air cargo market analysis, globalization, e-commerce expansion, and the need for efficient and timely delivery of goods are the key drivers. The market analysis highlights the dominance of major companies such as FedEx, UPS, and DHL, who have established extensive global networks and advanced logistical capabilities. These companies offer a range of services, including express delivery, freight forwarding, and supply chain management, catering to the diverse needs of businesses worldwide. The market is also influenced by the geographic dynamics, with North America and Europe being major air cargo hubs due to their well-developed infrastructure and robust trade volumes. However, emerging economies in Asia Pacific, such as China and India, are witnessing rapid growth in the air cargo market, driven by increasing domestic consumption and expanding manufacturing sectors. The global air cargo market plays a crucial role in the global economy, facilitating the transportation of goods across long distances and ensuring timely delivery. The market analysis highlights the drivers, challenges, and trends shaping the industry, with major companies and regional dynamics playing significant roles. As the world becomes increasingly interconnected and e-commerce continues to expand, the air cargo market is poised for further growth and innovation in the coming years.

Report Metric Details
Market size value in 2022 USD 131.09 Billion
Market size value in 2031 USD 217.74 Billion
Growth Rate 5.80%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type of cargo
    • General cargo, perishable goods, pharmaceuticals, e-commerce parcels, automotive parts, electronics, and other
  • Service type
    • Express delivery, freight forwarding, charter services, and courier services
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Emirates SkyCargo (UAE)
  • Cathay Pacific Airways Limited (Hong Kong)
  • Korean Air Cargo (South Korea)
  • Cargolux Airlines International S.A. (Luxembourg)
  • Lufthansa Cargo AG (Germany)
  • Singapore Airlines Cargo (Singapore)
  • Air France-KLM Cargo (France/Netherlands)
  • China Airlines Cargo (Taiwan)
  • Qatar Airways Cargo (Qatar)
  • Turkish Airlines Cargo (Turkey)
  • British Airways World Cargo (UK)
  • Japan Airlines Cargo (Japan)
  • All Nippon Airways (ANA) Cargo (Japan)
  • LATAM Cargo (Chile)
  • Saudi Arabian Airlines Cargo (Saudi Arabia)
  • Atlas Air Worldwide Holdings, Inc. (US)
  • Ethiopian Airlines Cargo & Logistics Services (Ethiopia)
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Air Cargo Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Air Cargo Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Air Cargo Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Air Cargo Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Air Cargo Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Air Cargo Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Air Cargo Market size was valued at USD 131.09 Billion in 2022 and is poised to grow from USD 138.69 Billion in 2023 to USD 217.74 Billion by 2031, at a CAGR of 5.80% during the forecast period (2024-2031).

The air cargo market is a highly competitive landscape, characterized by the presence of numerous major players and regional carriers. The market analysis reveals that key players in the industry are focused on expanding their networks, enhancing operational efficiency, and adopting advanced technologies to gain a competitive edge. Established players such as FedEx Corporation, United Parcel Service (UPS), DHL International GmbH, and Cathay Pacific Airways Limited dominate the market with their extensive networks, strong brand presence, and efficient logistics capabilities. These companies offer a wide range of air cargo services, including express delivery, freight transportation, and specialized logistics solutions. Additionally, there is a growing presence of regional carriers and niche players that cater to specific markets or industries. The competitive landscape is further intensified by the emergence of e-commerce giants such as Amazon, which are expanding their own logistics networks to handle their increasing air cargo demands. 'FedEx Corporation (US)', 'DHL International GmbH (Germany)', 'Emirates SkyCargo (UAE)', 'Cathay Pacific Airways Limited (Hong Kong)', 'Korean Air Cargo (South Korea)', 'Cargolux Airlines International S.A. (Luxembourg)', 'Lufthansa Cargo AG (Germany)', 'Singapore Airlines Cargo (Singapore)', 'Air France-KLM Cargo (France/Netherlands)', 'China Airlines Cargo (Taiwan)', 'Qatar Airways Cargo (Qatar)', 'Turkish Airlines Cargo (Turkey)', 'British Airways World Cargo (UK)', 'Japan Airlines Cargo (Japan)', 'All Nippon Airways (ANA) Cargo (Japan)', 'LATAM Cargo (Chile)', 'Saudi Arabian Airlines Cargo (Saudi Arabia)', 'Atlas Air Worldwide Holdings, Inc. (US)', 'Ethiopian Airlines Cargo & Logistics Services (Ethiopia)'

The exponential growth of e-commerce is a significant driver for the air cargo market. The rise of online shopping has led to increased demand for efficient and speedy delivery of goods worldwide. Air cargo offers the advantage of fast transportation, enabling companies to meet the expectations of customers for quick delivery. For example, companies like Amazon heavily rely on air cargo services to ensure timely delivery of their products to customers.

Digitization and Automation: The air cargo industry is adopting digitization and automation to improve efficiency and streamline processes. Technologies such as blockchain, Internet of Things (IoT), and artificial intelligence (AI) are being utilized to enhance supply chain visibility, track shipments in real time, optimize route planning, and automate documentation processes. For instance, digital platforms like Cargo.one and WebCargo enable airlines and freight forwarders to book cargo space digitally, reducing manual efforts and improving operational efficiency.

Asia-Pacific, the powerhouse of international trade, holds the largest market share in the air cargo market. With booming economies like China and India, the region has witnessed a remarkable surge in manufacturing, exports, and e-commerce activities. The rapid growth of these economies has fueled the demand for air cargo services to transport goods efficiently across the globe. For example, China's Alibaba Group, one of the world's largest e-commerce companies, heavily relies on air cargo to deliver millions of packages daily to customers worldwide. With an expanding middle class and increased consumer purchasing power, Asia-Pacific is set to maintain its dominance in the air cargo market, capturing a substantial market share and presenting attractive opportunities for both domestic and international businesses.

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Global Air Cargo Market

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