Global Air Cargo And Freight Logistics Market Scope 2024, Forecast To 2033
17 Apr, 2024
The air cargo and freight logistics market has witnessed strong growth, escalating from $208.79 billion in 2023 to $225.06 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.8%. This growth is attributed to factors such as the increasing number of internet users and a wide range of products, the rise in global trade driving market growth, increased globalization due to the rapid growth of developing countries, and the growing demand for air cargo transportation spurred by the expansion of the e-commerce industry. Looking ahead, the market is expected to continue its robust growth trajectory, reaching $289.24 billion in 2028, with a CAGR of 6.5%. Growth drivers in the forecast period include increasing consumer demand for perishable products, further expansion of the e-commerce industry, growing demand for pharmaceuticals, chemicals, and high-value cargo, alongside the rise of online shopping and the need for time-sensitive delivery. Major trends anticipated in the forecast period encompass automation and digitization transforming logistics operations, adoption of blockchain technology, sustainability initiatives, and the emergence of urban air mobility (UAM) solutions.
Global Air Cargo And Freight Logistics Market Key Driver
The growth of the air cargo and freight logistics markets is forecasted to be propelled by the rising tide of e-commerce activities globally. E-commerce, facilitated by electronic networks such as the Internet, has witnessed exponential growth, expanding the reach of online retailers to diverse consumer segments, including those in remote areas. Air cargo and freight logistics play a pivotal role in ensuring the swift and efficient transportation of goods, catering to the demands of the burgeoning e-commerce sector. For example, in the UK, e-commerce revenues are projected to grow at an annual average rate of 12.6% by 2025, with consumer e-commerce accounting for a significant portion of the retail industry. As of January 2021, the UK's e-commerce revenue was estimated to reach $285.60 billion by 2025, underscoring the robust growth trajectory of online retail. Hence, the surge in e-commerce and online retail sales is driving the expansion of the air cargo and freight logistics markets, with market size estimations spanning until 2028.
Get A Free Sample Of The Global Air Cargo And Freight Logistics Market ReportGlobal Air Cargo And Freight Logistics Market Segments
The air cargo and freight logistics market covered in this report is segmented –
1) By Type: Domestic Logistics, International Logistics
2) By Service Type: Express, Regular
3) By Application: Food, Industrial Materials, Equipment, Other Applications
4) By End-use Industry: Retail, Manufacturing, Healthcare, Automotive, Agriculture
By Geography:The regions covered in the air cargo and freight logistics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the air cargo and freight logistics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the air cargo and freight logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Air Cargo And Freight Logistics Market Industry Players
Deutsche Post DHL Group, United Parcel Service, FedEx Corporation, Deutsche Lufthansa AG, DSV AS, DB Schenker, Expeditors International of Washington, Kuehne + Nagel International AG, Singapore Airlines Limited, Korean Air Co., Air China Limited, Cathay Pacific Airways Limited, Bolloré Logistics, China Airlines Limited, EgyptAir Cargo, Canada Air Cargo & Freight Logistics Inc., Kalitta Air LLC, CEVA Logistics, Titan Sea & Air Services, Horizon International Cargo Inc., Lavin Star Trading LLC, Rosan Sea Air Services, Velocity Freight, Air Cargo & Freight Logistics India Pvt Ltd., ENS Logistics India Pvt Ltd., Qatar Airways Group, SNCF Logistics, American Airlines Cargo
Get The Full Global Air Cargo And Freight Logistics Market ReportAir Cargo And Freight Logistics Market Overview
Air cargo and freight logistics refer to the transportation of goods, merchandise, or commodities via air transport networks. The goal of air cargo and freight logistics is to ensure efficient, timely, and safe movement of goods through the air transportation system, meeting the demands of businesses and consumers globally.
Air Cargo And Freight Logistics Global Market Report 2023 provides data on the global air cargo and freight logistics market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The air cargo and freight logistics market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.