USD 66.6 billion
Report ID: SQMIG20R2018 | Region: Global | Published Date: May, 2023 | Pages: 157 | Tables: 60 | Figures: 75
Global Air Freight Market size was valued at USD 66.6 billion in 2021 and is poised to grow from USD 67.2 billion in 2022 to USD 133.47 billion by 2030, growing at a CAGR of 10.3% during the forecast period (2023-2030). Air freight has played a crucial role in meeting the growing global demand for trade in goods, driven by diverse supply chain dynamics such as long delivery times and expensive alternative modes of transport. The growth of the air cargo market has been facilitated by the improvement of air cargo routes in different countries, each with varying rates. Particularly noteworthy is the market's recovery and growth from pre-crisis volumes through the transportation of essential medical equipment, vaccines, and personal protective equipment (PPE). The significance of air freight extends beyond essential items, as it enables the timely delivery of non-perishable goods like jewelry, clothing, and auto parts, as well as perishable items such as fruits, vegetables, and meat. Moreover, the distribution of vaccines relies on a well-established temperature-sensitive system, incorporating state-of-the-art technologies and procedures. The thriving aviation industry further propels the market's expansion. Compared to other transportation modes like sea, rail, or road, air freight offers a substantial advantage in terms of time efficiency and security. Delivering cargo by plane minimizes delivery time, ensuring swift movement of goods. Additionally, air transport requires less packaging, reducing weight limits and improving cost-effectiveness. Consolidated air cargo services have gained popularity, positively influencing the market. In recent years, the global air freight market has demonstrated consistent growth, driven by factors such as expanding international trade, the proliferation of e-commerce, and the demand for time-sensitive shipments. Notable industry players include major airlines, freight forwarders, logistics companies, and integrators. The market is influenced by factors like fuel prices, capacity constraints, regulatory changes, and geopolitical considerations. Increasing emphasis on sustainable practices and the adoption of eco-friendly technologies reflect the industry's response to environmental concerns. The e-commerce sector has been a major driver of air freight growth, evidenced by a 27% increase in e-commerce air cargo demand in 2023 compared to the previous year.
Global Market Size
USD 66.6 billion
International Air Freight
International Air Freight
To get more reports on the above market click here to Buy The Report
Global Air Freight market is segmented by type, End-User, and region. Based on type, the market can be segmented into domestic air freight and international air freight. Based on End-User, the market is segmented into door-to-door service and airport-to-airport service. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
By type, the market can be segmented into domestic air freight and international air freight. The international air freight segment dominated the market. International air freight involves the transportation of goods across borders, which is crucial for global trade. The rise in e-commerce, global supply chains, and the expansion of the manufacturing industry has increased the demand for international air freight services.
The domestic air freight segment is the fastest-growing segment in the market. Domestic air freight refers to the movement of goods within a country. The growth of the domestic air freight market is attributed to the increasing need for fast and reliable delivery of goods within the country. The rise in domestic e-commerce, the expansion of the retail industry, and the growth of the manufacturing sector have fueled the demand for domestic air freight services.
Analysis by End-User
By End-User, the market can be segmented into door-to-door service, and airport-to-airport service. Airport-to-airport service involves the transportation of goods from one airport to another, while door-to-door service involves the transportation of goods from the shipper's location to the consignee's location. The airport-to-airport service segment dominates the market due to its cost-effectiveness and efficiency in the transportation of goods over long distances. This segment is preferred by large organizations and businesses that need to transport goods in bulk.
However, the door-to-door service segment is the fastest-growing due to the increasing demand for fast and efficient delivery of goods to the end-user. This service is particularly popular in the e-commerce sector, where there is a growing need for timely delivery of products to customers' doorsteps. The door-to-door service segment is also gaining popularity in the B2B market due to the convenience it offers to businesses.
To get detailed analysis on other segments, Request For Sample Report
North America dominated the global air freight market. The region's robust economy, advanced transportation infrastructure, and high demand for time-sensitive shipments contribute to its strong position. Major players in the North American air freight market include UPS, FedEx, and DHL. The United States, in particular, is a key market in the region, accounting for a significant share of air freight volumes.
APAC is the fastest-growing region in the global air freight market. The region's rapid economic growth, expanding middle class, and burgeoning e-commerce sector drive the demand for air cargo services. Countries such as China, India, and Japan are major contributors to APAC's air freight market. Additionally, the rise of manufacturing hubs and the increasing integration of APAC economies have led to significant growth in cross-border trade and air freight activities.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Rapid growth of e-commerce
Volatility of fuel prices
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The global air freight market is characterized by a diverse range of companies spanning airlines, freight forwarders, logistics providers, and integrators. These companies compete based on factors such as service reliability, network coverage, pricing, and technological capabilities. The market is highly fragmented, with numerous players vying for market share. Some focus on specific regions or niche markets, while others offer comprehensive global solutions. Continuous innovation, strategic partnerships, and investments in technology and infrastructure are crucial for companies to stay competitive in this dynamic and evolving industry.
Top Player’s Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global air freight market analysis, the market is a dynamic and competitive industry driven by factors such as e-commerce growth, technological advancements, and increasing demand for sustainable practices. While North America is the dominant region in the market due to its established logistics infrastructure and key air cargo carriers, Asia-Pacific is the fastest-growing region, driven by the rise of emerging economies and the booming e-commerce sector. However, the market also faced challenges, including the volatility of fuel prices and the need to meet increasing sustainability demands. Key players in the market span a range of logistics companies and airlines, each competing based on factors such as service reliability, network coverage, and pricing. As the market continues to evolve, innovation and strategic partnerships are crucial for companies to stay competitive and meet the changing demands of customers and stakeholders.
|Market size value in 2021||USD 66.6 billion|
|Market size value in 2030||USD 67.2 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Air Freight 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 Global Air Freight 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.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Air Freight Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Air Freight 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.
Our industry expert will work with you to provide you with customized data in a short amount of time.SPEAK TO AN ANALYST
Get lifetime access to our reportsBasic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOW
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.
Product ID: SQMIG20R2018