Air Freight Market: Exploring Latest Trends and Future Growth Prospects

The global air freight market size reached US$ 287.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 413.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.7% during 2023-2028.

Air freight, also known as air cargo, is a means of transportation used to deliver shipments quickly by commercial or charter airlines. It can be shipped globally as goods are sent from sellers to buyers or consignors to consignees. It is managed along the chain by numerous organizations, including aircraft and postal operators, regulated agents, haulers, express carriers, and ground handlers, with varying responsibilities. As a result, air freight is gaining immense traction across the globe as it helps contribute to economic development.

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Air Freight Market Trends and Drivers:

The global air freight market is primarily driven by the rising demand for non-perishable goods, such as jewelry, clothing, and automotive parts, and perishable items, including meat, fruits, and vegetables. Moreover, the surging adoption of air freight saves time and offers a higher level of security than other modes of transportation, such as marine, rail, or road, thereby positively influencing the market growth.

Additionally, air freight plays a significant role in the distribution of vaccines through a well-established temperature-sensitive distribution infrastructure, cutting-edge technology, and innovative procedures. In line with this, the widespread integration of the internet of things (IoT) and artificial intelligence (AI) in the air cargo supply chain has catalyzed market growth. Furthermore, air freight requires less packaging than other transportation methods to reduce the weight limit.

Along with this, the rising popularity of consolidated air freight services is contributing to market growth. Other factors, including the rapid expansion in the aviation industry, increasing import and export of goods among numerous countries, rising mergers and acquisitions (M&A) among key players, and technological advancements, are also anticipated to drive the market further.

Global Air Freight Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

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:

Breakup by End User:

Breakup by Region:

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Key highlights of the report:

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