The latest research study “Air Freight Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global air freight market reached a value of US$ 270.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 390.7 Billion by 2027, exhibiting a CAGR of 5.80% during 2022-2027.
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Air freight, also known as air cargo, is a transportation mode that delivers fast-speed shipments through aircraft or commercial air carriers. It is managed through a chain of numerous entities, such as aircraft and postal operators, express carriers, regulated agents, haulers, and ground handlers, with varying responsibilities. Over the years, air freight has contributed significantly to economic development across the globe.
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Air Freight Market Trends and Drivers:
Air freight is widely utilized to deliver perishable and non-perishable goods, such as temperature-sensitive vaccines, meat, and vegetables, to places worldwide that require quick delivery. This, coupled with the expanding aviation industry, is driving the market growth. As a result, air freight is becoming a preferred mode of transport as other modes of transportation, such as rail, marine, or road, usually take days or weeks to deliver different items.
Besides this, transporting goods using air freight also saves time, offers a high level of security, and requires less packaging than other transportation methods to reduce the weight limit. This, in confluence with the integration of advanced technologies, such as the Internet of Things (IoT) and artificial intelligence (AI) in the air cargo supply chain, is positively influencing the market growth.
Furthermore, the increasing merger and acquisitions (M&A) between the leading players, and the rising import and export of goods among numerous countries are also creating a favorable market outlook across the globe.
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|Air Freight Market Report Scope|
|Market size value in 2021||US$ 270.3 Billion|
|Market forecast in 2027||US$ 390.7 Billion|
|Growth Rate||CAGR of 5.80% from 2022 to 2027|
|Base year for estimation||2021|
Global Air Freight Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
American Airlines Inc., ANA Cargo Inc., Bolloré Logistics, Cargolux Airlines International S.A., Delta Air Lines Inc., Deutsche Bahn AG, Deutsche Post AG, DSV A/S, Expeditors International of Washington Inc., FedEx Corporation, Hellmann Worldwide Logistics SE & Co. KG, Kuehne + Nagel International AG, Nippon Express Co. Ltd., Qatar Airways and United Parcel Service Inc.
The report has segmented the market on the basis of region, service, destination and end user.
Breakup by Service:
Breakup by Destination:
Market Breakup by End User:
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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