Air Cargo Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Service (Forwarding, Airlines, Mail, and Others), By Destination (Domestic and International), By Carrier Type (Belly Cargo and Freighter), By Region, Competition, 2018-2028

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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 144 Billion

CAGR (2023-2028)

5.80%

Fastest Growing Segment

Forwarding

Largest Market

Asia-Pacific


Market Overview

Global Air Cargo Market has valued at USD 144 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.80% through 2028. The global air cargo market is currently experiencing a period of significant growth, driven by several key factors. Firstly, the increasing prevalence of e-commerce has sparked a surge in demand for fast and reliable transport of goods. As consumers continue to embrace online shopping, the need for efficient logistics solutions to ensure timely deliveries across vast distances has become more pressing than ever before. This trend is expected to continue as e-commerce continues to grow and evolve, with advancements in technology and infrastructure further fueling the expansion of the air cargo industry.

Moreover, globalization has played a crucial role in the growth of the air cargo market. With businesses expanding their operations globally, there is a greater need for efficient and timely transportation of goods to different parts of the world. Air cargo offers the advantage of speed, allowing businesses to quickly ship products to international markets, thereby reducing lead times and increasing customer satisfaction.

Additionally, the COVID-19 pandemic has accelerated the demand for air cargo services. As many countries implemented restrictions on travel and transportation, air cargo emerged as a vital lifeline for the delivery of essential goods, including medical supplies and equipment. The resilience and adaptability demonstrated by the air cargo industry during this challenging time have further solidified its importance and potential for growth.

In conclusion, the global air cargo market is witnessing remarkable growth, driven by factors such as the rise of e-commerce, globalization, and the impact of the COVID-19 pandemic. As the world becomes increasingly interconnected, the demand for efficient and reliable air cargo services will continue to rise, presenting opportunities and challenges for industry players to innovate and meet the evolving needs of customers worldwide.

Secondly, the process of globalization has created an interconnected world with an interdependent economy. As businesses expand their operations internationally, the movement of goods via air cargo has become vital for maintaining supply chains and facilitating global trade. The ability to transport goods quickly and efficiently by air has opened up new opportunities for businesses to access markets worldwide, enabling them to reach customers in a timely manner and expand their reach beyond borders.

Furthermore, the COVID-19 pandemic has caused short-term disruptions to the air cargo market. However, as the world gradually recovers from the impacts of the pandemic, the market is expected to continue its expansion in the long term. The importance of the air cargo industry in facilitating the flow of essential goods and medical supplies during the crisis has further highlighted its resilience and potential for growth. This, in turn, has generated increased interest in the industry from investors and policymakers alike.

Considering these factors, the air cargo industry presents an exciting and promising area for continued study and investment. The evolving trends in e-commerce, globalization, and the need for rapid deliveries make it a dynamic sector with ample opportunities for innovation and development. As technology and logistics continue to advance, the air cargo market is poised to play a crucial role in shaping the future of global trade and commerce, enabling businesses to connect with customers worldwide and contribute to economic growth on a global scale.

In conclusion, the global air cargo market's growth is driven by the increasing demand for e-commerce, the interconnectedness of the global economy, and the resilience demonstrated during the COVID-19 pandemic. With its promising prospects and potential for innovation, the air cargo industry is set to be a key player in the future of global trade and commerce.

Key Market Drivers

E-commerce Revolution

The E-commerce Revolution has had a profound impact on the Global Air Cargo Market. As the digital age continues to transform consumer shopping habits and expectations, e-commerce platforms have experienced unprecedented growth. The convenience of online shopping, coupled with the demand for quick and reliable delivery services, has led to a surge in the need for airfreight services.

E-commerce has redefined the way consumers shop, with an increasing preference for the convenience of online platforms. This shift in consumer behavior has sparked a high demand for rapid and efficient delivery services. Air cargo plays a pivotal role in the e-commerce supply chain, enabling swift and reliable transportation of goods from sellers to buyers.

The implications of this driver are far-reaching. The E-commerce Revolution has driven a substantial increase in the transportation of goods, especially products that are time-sensitive and high in value. E-commerce companies rely on air cargo for its speed and reliability, making it an essential link in the e-commerce value chain. It has become a competitive advantage for online retailers to offer fast delivery options, and air cargo facilitates meeting these customer expectations.

In the future, the E-commerce Revolution is poised to continue its impact on the air cargo industry. As the e-commerce sector grows and matures, the demand for air cargo services is expected to expand in tandem. Innovations in cargo consolidation, routing, and tracking are likely to emerge to accommodate the specific requirements of e-commerce, further enhancing the role of airfreight in the global supply chain.

Global Supply Chain Complexity

The Globalization of Supply Chains is a key driver of the Global Air Cargo Market. As companies across various industries have extended their supply chains globally, the transportation of raw materials and finished products has become increasingly complex. This has resulted in a greater demand for efficient and rapid air cargo services.

Global supply chains have been designed to optimize production processes and reduce costs. The internationalization of these supply chains has necessitated the need for efficient transportation networks that can connect suppliers, manufacturers, and customers across the world. Air cargo serves as a reliable solution to this challenge, offering speed and predictability, essential for ensuring the smooth operation of these intricate global supply chains.

The implications of this driver are profound. Global supply chains require the timely and secure transportation of components and products to meet production schedules and customer demands. Air cargo plays a crucial role in facilitating the synchronization of these supply chains, ensuring that materials and products reach their destinations on time. This is especially critical in industries like automotive, electronics, and pharmaceuticals, where components are sourced from various locations worldwide.

In the future, the complexity of global supply chains is expected to increase, and the demand for airfreight is likely to remain strong. The industry may see innovations in cargo consolidation and routing to optimize cost and time efficiencies, enhancing its role in the global supply chain.

High-Value and Time-Sensitive Cargo

The transportation of High-Value and Time-Sensitive Cargo is another major driver of the Global Air Cargo Market. Many industries, including pharmaceuticals, technology, automotive, and perishables, rely on airfreight to transport products that require precise temperature control, security, or quick delivery to maintain their quality and meet market demand.

This driver underscores the critical role of air cargo in the transportation of products that are sensitive to factors such as temperature, security, and timeliness. These industries depend on air cargo to ensure that their products reach their destinations with the necessary speed and security, minimizing the risk of damage, spoilage, or disruptions in the supply chain. The aviation industry plays a crucial role in preserving the quality and integrity of goods during transit.

In the future, the demand for transporting high-value and time-sensitive cargo is expected to continue to grow. The industry may see advancements in cargo handling and tracking technologies to ensure the security and integrity of these shipments. Additionally, specialized air cargo facilities designed to meet the specific needs of these industries may become more prevalent.

Just-In-Time Manufacturing

Just-In-Time (JIT) Manufacturing is a longstanding driver of the Global Air Cargo Market. JIT manufacturing is an approach that emphasizes minimizing inventory levels and ensuring that components and raw materials arrive at production facilities precisely when they are needed. This approach has significantly reduced warehousing costs and improved overall supply chain efficiency.

The implications of JIT Manufacturing are noteworthy. JIT manufacturing requires the precise and timely delivery of components, often from multiple suppliers and locations. Air cargo serves as a practical solution to synchronize the delivery of these components, minimizing the risk of production disruptions and reducing inventory carrying costs. This approach has had a profound impact on various industries, including automotive, electronics, and aerospace.

In the future, the adoption of JIT principles is expected to persist in various industries. The importance of airfreight in supporting JIT manufacturing practices will continue to be emphasized. The industry may witness increased collaboration and data-sharing among manufacturers, suppliers, and logistics providers to optimize production schedules and reduce lead times.

Pharmaceutical and Healthcare Industry Growth

The growth of the Pharmaceutical and Healthcare Industries is a significant driver of the Global Air Cargo Market. These industries rely on air cargo to transport temperature-sensitive products, including vaccines, biologics, and critical medications. Airfreight ensures that these products reach their destinations within strict temperature tolerances and in a timely manner, preserving their efficacy and patient safety.

The implications of this driver are of critical importance. The pharmaceutical and healthcare sectors are highly dependent on air cargo to transport temperature-sensitive medical products. This includes vaccines, biologics, and other critical medications. The stringent temperature control and rapid delivery offered by airfreight are essential to ensure the safety and effectiveness of these products.

In the future, the pharmaceutical and healthcare sectors are poised for continued growth. This will drive the demand for air cargo services, particularly those that specialize in maintaining the cold chain for pharmaceutical products. Advancements in cold chain logistics and temperature-monitoring technologies are expected to further enhance the transportation of temperature-sensitive medical products.


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Key Market Challenges

Capacity Constraints and Supply Chain Disruptions

One of the primary challenges faced by the Global Air Cargo Market is capacity constraints, which have been accentuated by the COVID-19 pandemic. The sudden and severe reduction in passenger flights, which often carry a substantial amount of cargo in the belly of the aircraft, significantly impacted air cargo capacity. Even as demand for airfreight surged due to the need for transporting medical supplies and e-commerce goods, the available capacity could not meet the requirements. Furthermore, supply chain disruptions and transportation bottlenecks added to the challenges.

Capacity constraints led to soaring airfreight rates and created a competitive environment for shippers and forwarders, making air cargo services expensive. Companies faced delays and disruptions in their supply chains, impacting production schedules and inventory management. The situation highlighted the importance of supply chain resilience and the need for dedicated freighter aircraft and cargo-only flights.

Regulatory Complexity and Compliance

The Global Air Cargo Market operates in a highly regulated environment, with numerous rules, standards, and security protocols governing airfreight. Regulatory compliance is a significant challenge for air cargo companies, as it involves strict adherence to customs regulations, security measures, and safety standards. Non-compliance can result in severe penalties and operational disruptions.

Regulatory complexity necessitates significant administrative efforts and resources for compliance. Cargo companies must invest in personnel and systems to manage documentation, security checks, and adherence to airworthiness standards. This leads to increased operational costs and potential delays in cargo clearance and transportation.

Security Threats and Cargo Safety

Ensuring the security and safety of air cargo is a paramount concern for the industry. Security threats, including terrorism and the potential use of air cargo for illicit activities, pose significant challenges. Air cargo companies must implement robust security measures to prevent unauthorized access and the transportation of dangerous goods.

Enhancing security measures requires substantial investments in technology, personnel training, and infrastructure. These investments impact operating costs and may result in delays in cargo handling and screening. Any security breaches can lead to operational disruptions and reputational damage for cargo companies.

Environmental Concerns and Sustainability

The Global Air Cargo Market faces growing pressure to address environmental concerns and enhance its sustainability. Airfreight operations are associated with carbon emissions and their impact on climate change. As public awareness of environmental issues rises, there is an increasing focus on reducing the carbon footprint of air cargo operations.

To address environmental concerns, the industry is expected to continue investing in green technologies, including the adoption of more fuel-efficient aircraft and the exploration of alternative propulsion systems. Collaborative efforts with governments and regulatory bodies can lead to the development of standardized emissions reduction targets and reporting requirements.

Economic Volatility and Pricing Pressure

Economic conditions and market volatility present ongoing challenges for the air cargo industry. Factors such as global economic downturns, currency fluctuations, and trade disputes can impact demand for airfreight services. Economic uncertainties can lead to pricing pressure, affecting the competitiveness and profitability of air cargo companies.

Economic volatility can result in fluctuating demand for airfreight services. To maintain competitiveness, cargo companies may be forced to lower their prices, impacting their profitability. On the other hand, cost pressures may lead to service reductions or cutbacks, potentially affecting service quality.

Key Market Trends

Digitization and Data-Driven Operation

The digital transformation of the air cargo industry is a significant trend that is enhancing efficiency and customer service. Airlines and cargo companies are increasingly adopting advanced technologies and data-driven operations. This includes the implementation of Internet of Things (IoT) devices and sensors throughout the supply chain, enabling real-time monitoring of cargo conditions. Enhanced tracking systems and predictive analytics are providing end-to-end visibility and helping companies optimize their operations.

This trend has profound implications for the industry. Digitization and data-driven operations enhance efficiency, reduce operational costs, and improve customer service. They also enable companies to gain a competitive edge by offering transparency and real-time tracking. Investments in digital infrastructure and data analytics are becoming essential for industry players.

The future of this trend involves increased investment in data analytics, machine learning, and artificial intelligence to further optimize operations and enhance predictive capabilities. The integration of blockchain technology for secure and transparent data sharing may also become more prevalent.

E-commerce Boom and Changing Consumer Behavior

The growth of e-commerce has become a dominant trend in the Global Air Cargo Market, fundamentally altering the cargo industry's landscape. As consumers increasingly turn to online shopping, the demand for efficient and timely delivery of goods has surged. This e-commerce boom has implications for transportation modes, delivery speed, and customer expectations.

The shift toward e-commerce-focused air cargo operations is evident as airlines and cargo companies dedicate cargo space and flights specifically for e-commerce shipments. E-commerce logistics hubs and fulfillment centers are strategically located near airports to expedite the flow of goods. Additionally, last-mile delivery solutions are in focus, with the development of efficient and cost-effective methods for the final leg of delivery, such as drones, autonomous vehicles, and innovative urban delivery models.

This trend has significant implications for the air cargo industry. It requires a realignment of cargo operations to accommodate the specific needs of e-commerce, which often involves smaller shipments with higher delivery speed expectations. Efficient last-mile solutions and optimized cargo handling processes become paramount to meet customer demands in the e-commerce era.

Sustainability and Environmental Responsibility

The air cargo industry is increasingly focusing on sustainability and environmental responsibility. Environmental concerns and regulatory pressures are driving airlines and cargo companies to reduce their carbon footprint and adopt greener practices. This trend involves efforts to reduce emissions, improve fuel efficiency, and explore alternative propulsion technologies.

Efforts to enhance sustainability encompass various initiatives, including the adoption of more fuel-efficient aircraft, the development of alternative fuels, and the exploration of electric and hybrid propulsion systems. Airlines are also engaging in emissions reduction programs and carbon offset projects to mitigate their environmental impact.

The implications of the sustainability trend are far-reaching. Airlines that embrace sustainable practices can enhance their reputation, reduce operating costs through fuel savings, and comply with evolving environmental regulations. Additionally, customers increasingly favor eco-friendly transportation options, providing a competitive advantage to airlines that prioritize sustainability.

The future of this trend involves further investments in green technologies, including the adoption of more fuel-efficient aircraft and the exploration of alternative propulsion systems. Collaborative efforts with governments and regulatory bodies are expected to lead to the development of standardized emissions reduction targets and reporting requirements.

Cargo Diversification and Specialized Services

A growing trend in the air cargo industry is cargo diversification and the provision of specialized services. Cargo companies are expanding their portfolios to transport a wider range of goods, including high-value and time-sensitive products such as pharmaceuticals, perishables, and electronics. This diversification requires specialized handling procedures, equipment, and temperature-controlled facilities.

The implications of this trend are twofold. Firstly, diversifying cargo types allows airlines to tap into new revenue streams and reduce dependence on traditional cargo categories. Secondly, specialized services, such as cold chain logistics for pharmaceuticals and fresh produce, are becoming a competitive differentiator. Companies that offer these services can attract customers who require precise temperature control and security for their cargo.

The future of this trend may involve further expansion into specialized cargo categories and the development of advanced handling and monitoring systems to ensure the safety and quality of specialized products during transport. Additionally, cargo diversification enhances the industry's resilience by reducing reliance on specific sectors that may be subject to economic fluctuations.

Global Trade Dynamics and Trade Routes

Global trade dynamics and trade route adjustments are influencing the air cargo industry. Factors such as trade tensions, trade agreements, and shifts in manufacturing locations impact cargo flows and demand for airfreight services. The flexibility of air cargo makes it a key player in adapting to changing trade patterns.

This trend has several implications for the industry. Airlines and cargo companies need to monitor and respond to shifts in global trade routes and market demand. They must be agile in adjusting their services to accommodate changing trade dynamics. Additionally, economic and geopolitical factors, such as trade disputes or sanctions, can affect cargo volume and market conditions.

The future developments related to this trend may involve closer collaboration between cargo companies and governments to navigate trade challenges and capitalize on opportunities. Proactive route planning and the ability to adapt to changing trade patterns will be critical for the industry's success in a dynamic global trade landscape.

Segmental Insights

Service Analysis

The global Air Cargo Market is experiencing significant growth, fueled by advancements in technology, the rise of e-commerce, and increased global trade. With the advent of state-of-the-art cargo planes and improved logistical infrastructure, businesses can now transport goods faster and more efficiently. Despite the occasional volatility due to economic fluctuations and global events, the sector shows a positive outlook. The expanding e-commerce industry, in particular, is a major driver, as consumers increasingly prefer online shopping, necessitating speedy and reliable delivery systems. By offering a time-efficient solution, air cargo services are poised to cater to this growing demand.

Destination Analysis

The global Air Cargo Market has been witnessing a significant surge, largely driven by the increasing reliance on e-commerce, urgent shipment of medical supplies amid health crises, and the growing demand for perishable goods worldwide. Moreover, advancements in freight logistics and improved aviation networks have made air cargo a reliable and efficient choice for many businesses. However, the industry also faces challenges such as fluctuating fuel prices, stringent regulations, and the need for significant capital investment. Despite these hurdles, the Air Cargo Market continues to offer substantial opportunities for growth and innovation.


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Regional Insights

The global Air Cargo Market boasts different trends and opportunities across various regions. In North America, the market is driven by the presence of multiple global cargo carriers and robust e-commerce growth. Europe sees steady growth, largely influenced by its strategic location as a global transshipment hub. Asia-Pacific, particularly China and India, is a rapidly expanding market due to industrial growth and improvements in transport infrastructure. Meanwhile, Africa, though currently a smaller player, holds potential with its emerging economies and developing air transport network.

Recent Developments

  • September 2021: The Emirates SkyCargo was planning to launch new technology solutions with WiseTech Global. The new technology, CargoWise, enables a better user experience and improves the efficiency of the booking process for a cargo shipment to the customer.
  • March 2021: The International Air Transport Association (IATA) launched Enhanced Partner Identification and Connectivity (EPIC) platform to digitalize the international cargo supply chain. EPIC provides quick and easy digital connections in the supply chain, thereby saving time and money in procuring revenues. Currently, EPIC is implemented by more than 30 airlines and 900 freight forwarder branches.

Key Market Players

  • FedEx (Federal Express) Corporation
  • United Parcel Service Inc.
  • The Emirates Group
  • Cathay Pacific Airways Limited
  • Cargolux Airlines International SA
  • China Airlines Ltd
  • Japan Airlines Co. Ltd
  • Qatar Airways Company QCSC
  • Deutsche Lufthansa AG
  • All Nippon Airways Co. Ltd (ANA)

By Service

By Destination

By Carrier Type

By Region
  • Forwarding
  • Airlines
  • Mail
  • Others
  • Domestic
  • International
  • Belly Cargo
  • Freighter
  • North America
  • Europe & CIS
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Air Cargo Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Air Cargo Market, By Service:

o   Forwarding

o   Airlines

o   Mail

o   Others

  • Air Cargo Market, By Destination:

o   Domestic

o   International

  • Air Cargo Market, By Carrier Type:

o   Belly Cargo

o   Freighter

  • Air Cargo Market, By Region:

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  Thailand

§  South Korea

§  Australia

o   Europe & CIS

§  Germany

§  Spain

§  France

§  Russia

§  Italy

§  United Kingdom

§  Belgium

o   North America

§  United States

§  Canada

§  Mexico

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Turkey

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Air Cargo Market.

Available Customizations:

Global Air Cargo Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Air Cargo Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Global Air Cargo Market

5.    Global Air Cargo Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Service Market Share Analysis (Forwarding, Airlines, Mail, and Others)

5.2.2.    By Destination Market Share Analysis (Domestic and International)

5.2.3.    By Carrier Type Market Share Analysis (Belly Cargo and Freighter)   

5.2.4.    By Regional Market Share Analysis

5.2.4.1.        Asia-Pacific Market Share Analysis

5.2.4.2.        Europe & CIS Market Share Analysis

5.2.4.3.        North America Market Share Analysis

5.2.4.4.        South America Market Share Analysis

5.2.4.5.        Middle East & Africa Market Share Analysis

5.2.5.    By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)

5.3.  Global Air Cargo Market Mapping & Opportunity Assessment

5.3.1.    By Service Market Mapping & Opportunity Assessment

5.3.2.    By Destination Market Mapping & Opportunity Assessment

5.3.3.    By Carrier Type Market Mapping & Opportunity Assessment

5.3.4.    By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Air Cargo Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value  

6.2.  Market Share & Forecast

6.2.1.    By Service Market Share Analysis

6.2.2.    By Destination Market Share Analysis

6.2.3.    By Carrier Type Market Share Analysis

6.2.4.    By Country Market Share Analysis

6.2.4.1.        China Market Share Analysis

6.2.4.2.        India Market Share Analysis

6.2.4.3.        Japan Market Share Analysis

6.2.4.4.        Indonesia Market Share Analysis

6.2.4.5.        Thailand Market Share Analysis

6.2.4.6.        South Korea Market Share Analysis

6.2.4.7.        Australia Market Share Analysis

6.2.4.8.        Rest of Asia-Pacific Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.    China Air Cargo Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value  

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Service Market Share Analysis

6.3.1.2.2.           By Destination Market Share Analysis

6.3.1.2.3.           By Carrier Type Market Share Analysis

6.3.2.    India Air Cargo Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value  

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Service Market Share Analysis

6.3.2.2.2.           By Destination Market Share Analysis

6.3.2.2.3.           By Carrier Type Market Share Analysis

6.3.3.    Japan Air Cargo Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value  

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Service Market Share Analysis

6.3.3.2.2.           By Destination Market Share Analysis

6.3.3.2.3.           By Carrier Type Market Share Analysis

6.3.4.    Indonesia Air Cargo Market Outlook

6.3.4.1.        Market Size & Forecast

6.3.4.1.1.           By Value  

6.3.4.2.        Market Share & Forecast

6.3.4.2.1.           By Service Market Share Analysis

6.3.4.2.2.           By Destination Market Share Analysis

6.3.4.2.3.           By Carrier Type Market Share Analysis

6.3.5.    Thailand Air Cargo Market Outlook

6.3.5.1.        Market Size & Forecast

6.3.5.1.1.           By Value  

6.3.5.2.        Market Share & Forecast

6.3.5.2.1.           By Service Market Share Analysis

6.3.5.2.2.           By Destination Market Share Analysis

6.3.5.2.3.           By Carrier Type Market Share Analysis

6.3.6.    South Korea Air Cargo Market Outlook

6.3.6.1.        Market Size & Forecast

6.3.6.1.1.           By Value  

6.3.6.2.        Market Share & Forecast

6.3.6.2.1.           By Service Market Share Analysis

6.3.6.2.2.           By Destination Market Share Analysis

6.3.6.2.3.           By Carrier Type Market Share Analysis

6.3.7.    Australia Air Cargo Market Outlook

6.3.7.1.        Market Size & Forecast

6.3.7.1.1.           By Value  

6.3.7.2.        Market Share & Forecast

6.3.7.2.1.           By Service Market Share Analysis

6.3.7.2.2.           By Destination Market Share Analysis

6.3.7.2.3.           By Carrier Type Market Share Analysis

7.    Europe & CIS Air Cargo Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value  

7.2.  Market Share & Forecast

7.2.1.    By Service Market Share Analysis

7.2.2.    By Destination Market Share Analysis

7.2.3.    By Carrier Type Market Share Analysis

7.2.4.    By Country Market Share Analysis

7.2.4.1.        Germany Market Share Analysis

7.2.4.2.        Spain Market Share Analysis

7.2.4.3.        France Market Share Analysis

7.2.4.4.        Russia Market Share Analysis

7.2.4.5.        Italy Market Share Analysis

7.2.4.6.        United Kingdom Market Share Analysis

7.2.4.7.        Belgium Market Share Analysis

7.2.4.8.        Rest of Europe & CIS Market Share Analysis

7.3.  Europe & CIS: Country Analysis

7.3.1.    Germany Air Cargo Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value  

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Service Market Share Analysis

7.3.1.2.2.           By Destination Market Share Analysis

7.3.1.2.3.           By Carrier Type Market Share Analysis

7.3.2.    Spain Air Cargo Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value  

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Service Market Share Analysis

7.3.2.2.2.           By Destination Market Share Analysis

7.3.2.2.3.           By Carrier Type Market Share Analysis

7.3.3.    France Air Cargo Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value  

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Service Market Share Analysis

7.3.3.2.2.           By Destination Market Share Analysis

7.3.3.2.3.           By Carrier Type Market Share Analysis

7.3.4.    Russia Air Cargo Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value  

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Service Market Share Analysis

7.3.4.2.2.           By Destination Market Share Analysis

7.3.4.2.3.           By Carrier Type Market Share Analysis

7.3.5.    Italy Air Cargo Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value  

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Service Market Share Analysis

7.3.5.2.2.           By Destination Market Share Analysis

7.3.5.2.3.           By Carrier Type Market Share Analysis

7.3.6.    United Kingdom Air Cargo Market Outlook

7.3.6.1.        Market Size & Forecast

7.3.6.1.1.           By Value  

7.3.6.2.        Market Share & Forecast

7.3.6.2.1.           By Service Market Share Analysis

7.3.6.2.2.           By Destination Market Share Analysis

7.3.6.2.3.           By Carrier Type Market Share Analysis

7.3.7.    Belgium Air Cargo Market Outlook

7.3.7.1.        Market Size & Forecast

7.3.7.1.1.           By Value  

7.3.7.2.        Market Share & Forecast

7.3.7.2.1.           By Service Market Share Analysis

7.3.7.2.2.           By Destination Market Share Analysis

7.3.7.2.3.           By Carrier Type Market Share Analysis

8.    North America Air Cargo Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value  

8.2.  Market Share & Forecast

8.2.1.    By Service Market Share Analysis

8.2.2.    By Destination Market Share Analysis

8.2.3.    By Carrier Type Market Share Analysis

8.2.4.    By Country Market Share Analysis

8.2.4.1.        United States Market Share Analysis

8.2.4.2.        Mexico Market Share Analysis

8.2.4.3.        Canada Market Share Analysis

8.3.  North America: Country Analysis

8.3.1.    United States Air Cargo Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value  

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Service Market Share Analysis

8.3.1.2.2.           By Destination Market Share Analysis

8.3.1.2.3.           By Carrier Type Market Share Analysis

8.3.2.    Mexico Air Cargo Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value  

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Service Market Share Analysis

8.3.2.2.2.           By Destination Market Share Analysis

8.3.2.2.3.           By Carrier Type Market Share Analysis

8.3.3.    Canada Air Cargo Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value  

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Service Market Share Analysis

8.3.3.2.2.           By Destination Market Share Analysis

8.3.3.2.3.           By Carrier Type Market Share Analysis

9.    South America Air Cargo Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value  

9.2.  Market Share & Forecast

9.2.1.    By Service Market Share Analysis

9.2.2.    By Destination Market Share Analysis

9.2.3.    By Carrier Type Market Share Analysis

9.2.4.    By Country Market Share Analysis

9.2.4.1.        Brazil Market Share Analysis

9.2.4.2.        Argentina Market Share Analysis

9.2.4.3.        Colombia Market Share Analysis

9.2.4.4.        Rest of South America Market Share Analysis

9.3.  South America: Country Analysis

9.3.1.    Brazil Air Cargo Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value  

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Service Market Share Analysis

9.3.1.2.2.           By Destination Market Share Analysis

9.3.1.2.3.           By Carrier Type Market Share Analysis

9.3.2.    Colombia Air Cargo Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value  

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Service Market Share Analysis

9.3.2.2.2.           By Destination Market Share Analysis

9.3.2.2.3.           By Carrier Type Market Share Analysis

9.3.3.    Argentina Air Cargo Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value  

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Service Market Share Analysis

9.3.3.2.2.           By Destination Market Share Analysis

9.3.3.2.3.           By Carrier Type Market Share Analysis

10.  Middle East & Africa Air Cargo Market Outlook

10.1.            Market Size & Forecast

10.1.1. By Value   

10.2.            Market Share & Forecast

10.2.1. By Service Market Share Analysis

10.2.2. By Destination Market Share Analysis

10.2.3. By Carrier Type Market Share Analysis

10.2.4. By Country Market Share Analysis

10.2.4.1.     South Africa Market Share Analysis

10.2.4.2.     Turkey Market Share Analysis

10.2.4.3.     Saudi Arabia Market Share Analysis

10.2.4.4.     UAE Market Share Analysis

10.2.4.5.     Rest of Middle East & Africa Market Share Africa

10.3.            Middle East & Africa: Country Analysis

10.3.1. South Africa Air Cargo Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value  

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Service Market Share Analysis

10.3.1.2.2.         By Destination Market Share Analysis

10.3.1.2.3.         By Carrier Type Market Share Analysis

10.3.2. Turkey Air Cargo Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value  

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Service Market Share Analysis

10.3.2.2.2.         By Destination Market Share Analysis

10.3.2.2.3.         By Carrier Type Market Share Analysis

10.3.3. Saudi Arabia Air Cargo Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value  

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Service Market Share Analysis

10.3.3.2.2.         By Destination Market Share Analysis

10.3.3.2.3.         By Carrier Type Market Share Analysis

10.3.4. UAE Air Cargo Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value  

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Service Market Share Analysis

10.3.4.2.2.         By Destination Market Share Analysis

10.3.4.2.3.         By Carrier Type Market Share Analysis

11.  SWOT Analysis

11.1.            Strength

11.2.            Weakness

11.3.            Opportunities

11.4.            Threats

12.  Market Dynamics

12.1.            Market Drivers

12.2.            Market Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.            Company Profiles (Up to 10 Major Companies)

14.1.1. All Nippon Airways Co. Ltd (ANA)

14.1.1.1.     Company Details

14.1.1.2.     Key Product Offered

14.1.1.3.     Financials (As Per Availability)

14.1.1.4.     Recent Developments

14.1.1.5.     Key Management Personnel

14.1.2. FedEx (Federal Express) Corporation

14.1.2.1.     Company Details

14.1.2.2.     Key Product Offered

14.1.2.3.     Financials (As Per Availability)

14.1.2.4.     Recent Developments

14.1.2.5.     Key Management Personnel

14.1.3. United Parcel Service Inc.

14.1.3.1.     Company Details

14.1.3.2.     Key Product Offered

14.1.3.3.     Financials (As Per Availability)

14.1.3.4.     Recent Developments

14.1.3.5.     Key Management Personnel

14.1.4. The Emirates Group

14.1.4.1.     Company Details

14.1.4.2.     Key Product Offered

14.1.4.3.     Financials (As Per Availability)

14.1.4.4.     Recent Developments

14.1.4.5.     Key Management Personnel

14.1.5. Cathay Pacific Airways Limited

14.1.5.1.     Company Details

14.1.5.2.     Key Product Offered

14.1.5.3.     Financials (As Per Availability)

14.1.5.4.     Recent Developments

14.1.5.5.     Key Management Personnel

14.1.6. Cargolux Airlines International SA

14.1.6.1.     Company Details

14.1.6.2.     Key Product Offered

14.1.6.3.     Financials (As Per Availability)

14.1.6.4.     Recent Developments

14.1.6.5.     Key Management Personnel

14.1.7. China Airlines Ltd

14.1.7.1.     Company Details

14.1.7.2.     Key Product Offered

14.1.7.3.     Financials (As Per Availability)

14.1.7.4.     Recent Developments

14.1.7.5.     Key Management Personnel

14.1.8. Japan Airlines Co. Ltd

14.1.8.1.     Company Details

14.1.8.2.     Key Product Offered

14.1.8.3.     Financials (As Per Availability)

14.1.8.4.     Recent Developments

14.1.8.5.     Key Management Personnel

14.1.9. Qatar Airways Company QCSC

14.1.9.1.     Company Details

14.1.9.2.     Key Product Offered

14.1.9.3.     Financials (As Per Availability)

14.1.9.4.     Recent Developments

14.1.9.5.     Key Management Personnel

14.1.10.              Deutsche Lufthansa AG

14.1.10.1.  Company Details

14.1.10.2.  Key Product Offered

14.1.10.3.  Financials (As Per Availability)

14.1.10.4.  Recent Developments

14.1.10.5.  Key Management Personnel

15.  Strategic Recommendations

15.1.            Key Focus Areas

15.1.1. Target Regions

15.1.2. Target Service

15.1.3. Target Destination

16.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Air Cargo Market was estimated to be USD 144 Billion in 2022.

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In 2022, the forwarding service segment held a dominant position in the Global Air Cargo Market. This was due to the increased efficiency in cargo handling and the ability to provide door-to-door services, which have been exceptionally critical in facilitating global trade and e-commerce growth.

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The Asia-Pacific region dominates the global air cargo market, largely due to the significant expansion of international trade and e-commerce in countries such as China, Japan, and India. This region has seen tremendous growth in air freight volumes, driven by the increasing demand for immediate or time-specific delivery of goods. This trend is projected to continue in the foreseeable future.

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The Global Air Cargo Market is primarily driven by two major factors. Firstly, the growth of e-commerce, with the rising demand for online shopping and express delivery services, fuels the need for swift and efficient air cargo transportation. Secondly, the expansion of global trade and increasing supply chain globalization play a pivotal role in driving air cargo demand, especially for the expedited transport of goods across international borders, highlighting the market's importance in facilitating the global economy.

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Srishti Verma

Business Consultant
Press Release

Air Cargo Market to Grow with a CAGR of 5.80% Globally through to 2028

Jan, 2024

The Global Air Cargo Market is primarily driven by two major factors. Firstly, the growth of e-commerce, with the rising demand for online shopping and express delivery services, fuels the need for s

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