Global Air Cargo Services Market Report 2022 – Market Forecast, Trends And Strategies
22 Jun, 2022
The global air cargo transport services market size is expected to grow from $57.21 billion in 2021 to $61.82 billion in 2022 at a compound annual growth rate (CAGR) of 8.1%. The air cargo transport market is then expected to grow to $81.51 billion in 2026 at a CAGR of 7.2%.
What is the Global Air Cargo Services Market?
The air cargo transport services market consists of sales of air cargo transport services and related goods by entities (organizations, sole traders, and partnerships) that use aircraft, such as airplanes and helicopters to provide air transportation of cargo and mail on a contract basis over fixed international routes.
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What drives the Global Air Cargo Services Market?
Air cargo companies are increasingly using block chain technology to improve efficiency, minimize losses, and prevent damage to cargo. Block chain technology allows air cargo companies to digitally track and record the change of custody for airline cargo containers, or Unit Load Devices (ULDs), as they journey between destinations. For instance, the block chain in Transport Alliance (BiTA) is pushing for a standardized implementation in the logistics industry. Large industry players such as UPS, FedEx, DHL, and Union Pacific have signed on with BiTA. Sita, an air transport communications and information technology company estimates the possibility of using block chain technology to save $400M a year for the air cargo industry.
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Global Air Cargo Services Market Segments
The global air cargo services market is segmented:
By Type: Air Mail, Air Freight
By Destination: Domestic, International
By End-User: Consumer Electronics, Retail, Third Party Logistics, Food and Beverages, Pharmaceuticals and Healthcare, Others
By Service: Express, Regular
By Geography: The regions covered in the air cargo services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Air Cargo Services Global Market Report 2022provides market size and growth forecasts for the global air cargo services market, global air cargo services market share, air cargo services market segments and geographies, air cargo services market competitive landscape including leading competitors’ revenues, profiles and market shares. The air cargo services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Air Cargo Services Industry Playersinclude Cathay Pacific Cargo, FedEx, The Emirates Group, United Parcel Service, and DHL Aviation. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.