How Has the Air Freight Market Evolved Historically and What is its Current Size?
The air freight market has seen considerable growth due to a variety of factors.
• In recent times, there has been a substantial growth in the size of the air freight market. The market, which is worth $48.19 billion in 2024, is projected to increase to $52.27 billion in 2025, with a compound annual growth rate (CAGR) of 8.5%.
Factors such as footwear personalization, biometric foot mapping, incorporation of health and wellness, a connected footwear ecosystem, and the merger of fashion and technology have contributed to the growth during the historical time frame.
What Does Future Hold for The Air Freight Market By 2029?
The air freight market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, it is anticipated that the air freight market will experience significant expansion, with its worth predicted to reach $68.27 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.9%.
The key factors propelling this growth during the forecast period include advancements in adaptive learning algorithms, prioritization of environmental sustainability, health monitoring and feedback mechanisms, integration with smart assistance, and enriched retail experiences through augmented reality (AR). Major trends over the forecast period will encompass material innovation, the development of smart insole technology, collaborations and limited edition releases, dynamic style customization, and adaptive and responsive design.
What Are The Primary Growth Drivers In The Air Freight Market?
The growing need for swift delivery services is poised to fuel the expansion of the air freight market. Fast-delivery services, which encompass specialized logistics and transportation strategies, aim to guarantee rapid and punctual transportation of goods, packages, or shipments from one place to another. Air freight offers unmatched speed relative to other transportation forms such as sea or land. This swift transportation allows firms to adhere to demanding delivery schedules and minimizes the total transit time for products. For items that are time-sensitive and of high value, like perishable items, pharmaceuticals, and electronics, air freight is usually the chosen mode of transportation. As per ShippyPro, an Italian software enterprise, in 2023, approximately 1.2 billion packages are predicted to be delivered in France and the UK, with this figure projected to rise to 1.9 billion parcels by 2027. Moreover, the same-day delivery market is anticipated to observe substantial growth, with a projected 260 to 521 million items anticipated to be delivered on the same day by 2027, an increase from 70 million in 2022. Consequently, the growing need for swift delivery services is propelling the expansion of the air freight market.
Air Freight Market Driver: The Booming E-commerce Sector Spurs Growth In The Air Freight Market
What Is The Segmentation Of The Global Air Freight Market?
The air freight market covered in this report is segmented –
1) By Service: Freight, Express, Mail, Other Services
2) By Destination: Domestic, International
3) By End Use: Pharmaceutical, Personal Care, Chemicals, Automobile, Fashion, Other End Users
Subsegments:
1) By Freight: General Cargo, Perishable Goods, Dangerous Goods, Other Freight
2) By Express: Time-sensitive Shipments, Door-To-door Services, Other Express Services
3) By Mail: Letters, Parcels, Other Mail Services
4) By Other Services: Charter Services, Customs Clearance, Warehousing And Distribution, Other Services
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What Emerging Trends Are Shaping The Air Freight Market Landscape?
Key players in the air freight market are striving to boost their market profitability by innovating and introducing technological solutions like ECU360. This revolutionary digital air freight service aims to simplify the shipping process for businesses of all scales. For example, ECU Worldwide, a logistics organization based in Belgium, rolled out a digital air freight service, ECU360, in April 2023. The service provides a variety of integrated features including acquiring estimates, instant conversion of quotes into online bookings, and shipment tracking in real time. The innovative technology makes air freight and shipping processes much less complex, thus simplifying global goods export for companies. The launch of ECU360 allows ECU Worldwide to present a unique digital logistics platform that can assist the company to expand its services and footprint in the logistics industry.
Who Are the Key Players In The Air Freight Market?
Major companies operating in the air freight market report are:
• Deutsche Post AG
• United Parcel Service Inc.
• FedEx Corporation
• Deutsche Bahn AG
• Delta Air Lines Inc.
• American Airlines Inc.
• Kuehne+Nagel International AG
• DSV Panalpina A/S
• Southwest Airlines Co.
• Expeditors International Inc.
• British Airways PLC
• Singapore Airlines Limited
• Korean Air Lines Co. Ltd.
• UPS Supply Chain Solutions Inc.
• Air China Limited
• XPO Logistics Inc.
• TNT Express BV
• Kintetsu World Express Inc.
• Bollore Logistics
• Cathay Pacific Airways Limited
• Hellmann Worldwide Logistics SE & Co. KG
• Cargolux Airlines International S.A.
• Lufthansa Cargo AG
• ANA Cargo Inc.
• Yusen Logistics Co. Ltd.
• Qatar Airways Company Q.C.S.C.
• Nippon Express Co. Ltd.
• Etihad Airways PJSC
• Agility Logistics Pvt. Ltd.
• CEVA Logistics Ltd.
What Are The Regional Insights Into The Air Freight Market?
Asia-Pacific was the largest region in the air freight market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the air freight market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
