Global Air Cargo Services Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
12 Mar, 2021
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. The air cargo services market is segmented into air mail and air freight.
Global Air Cargo Services Market Size And Drivers:
The global air cargo services market is expected to grow from $56.48 billion in 2020 to $64.98 billion in 2021 at a compound annual growth rate (CAGR) of 15%. The market is expected to reach $99.67 billion in 2025 at a CAGR of 11%.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
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Trends In 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.
Global Air Cargo Services Market Segments:
The global air cargo services market is further segmented based on type, destination, end user, service and geography.
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 global air cargo services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global air cargo services market, accounting for 40% of the total market.
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Air Cargo Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides air cargo services market overviews, analyzes and forecasts market size and growth for the global air cargo services market, air cargo services market share, air cargo services market players, air cargo services market segments and geographies, air cargo services market’s 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.