Global Air Transport Market Growth 2024, Forecast To 2033
8 Jan, 2024
The air transport market has surged from $1016.38 billion in 2023 to $1085.37 billion in 2024, with a 6.8% CAGR. Historical growth is linked to economic growth, globalization, tourism, and connectivity. The market is projected to reach $1394.51 billion in 2028, with a 6.5% CAGR. Emerging markets, global trade, urbanization, aircraft sustainability, and network expansion contribute to this growth. Notable trends include sustainable aviation, digital transformation, air cargo, e-commerce, and ultra-long-haul flights.
Global Air Transport Market Key Driver
The surge in e-commerce and online shopping is set to drive the air transport market's growth. E-commerce, or electronic commerce, involves buying and selling goods and services over the internet. Air transport plays a crucial role in enhancing e-commerce by ensuring prompt product delivery, expanding online retailers' market reach, and reducing delivery times for customers. In September 2022, the International Trade Administration reported that consumer e-commerce accounted for 30% of the UK's retail sector, reaching an annual revenue of over $120 billion. The rise of e-commerce continues to propel the air transport market.
Get A Free Sample Of The Global Air Transport Market ReportGlobal Air Transport Market Segments
The air transport market covered in this report is segmented –
1) By Type: Passenger Air Transport, Chartered Air Transport, Air Cargo Services
2) By Distance: Long-Distance, Short-Distance
3) By End-Use: Private, Commercial
By Geography: The regions covered in the air transport market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the air transport market in 2023. North America was the second largest region in the air transport market. The regions covered in the air transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major Air Transport Industry Players
The Emirates Group, China Airlines Ltd., American Airlines Group Inc., Delta Air Lines Inc., United Airlines Inc., China Southern Airlines, Qatar Airways Company Q.C.S.C, Air France–KLM SA, Deutsche Lufthansa AG, FedEx Corporation, United Parcel Service Inc., Cathay Pacific Airways Limited, Cargolux Airlines International SA, Japan Airlines Co. Ltd., ANA Holdings Inc., International Consolidated Airlines Group SA, Magma Aviation Limited, Deutsche Post AG, Kuehne Nagel International AG, AirBridgeCargo Airlines LLC, Cargojet Inc., Gol Linhas Aereas Inteligentes SA, Azul Linhas Aereas Brasileiras S/A, Latam Airlines, Compania Panamena de Aviacion SA, Lufthansa Cargo AG, Korean Air Lines Co. Ltd., Singapore Airlines Ltd., Air China Limited, Turkish Airlines Inc., Air Canada Inc., Ethiopian Airlines Group, British Airways plc, Air India Limited, Malaysia Airlines Berhad, Philippine Airlines Inc., Vietnam Airlines Corporation, Garuda Indonesia (Persero) Tbk PT, Royal Jordanian Airlines
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Air Transport Market Overview
Air transport is the transportation of people and goods using any vehicle capable of sustained controlled aircrafts such as aeroplanes and helicopters that provide both scheduled and non-scheduled air carriers to provide fast delivery of goods, reduced travel time with enhanced security, and reduced the risk of lost goods.
Air Transport Global Market Report 2023 provides data on the global air transport market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The air transport market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.