Market Overview:
The global air freight market size reached US$ 303.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 481.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.1% during 2024-2032. The increasing demand for efficient and fast transportation of goods across borders, significant growth in the e-commerce industry, rising import and export of goods among numerous countries worldwide, various technological advancements, and the emerging aviation industry are some of the major factors propelling the market.
Report Attribute
|
Key Statistics
|
Base Year
|
2023
|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
|
Market Size in 2023
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US$ 303.8 Billion |
Market Forecast in 2032
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US$ 481.2 Billion |
Market Growth Rate 2024-2032 |
5.1% |
Air freight, also known as air cargo, refers to the transportation and movement of goods or consignments through charter or commercial air carriers over long distances. It involves the movement of cargo, packages, or shipments from one location to another using air transportation networks and infrastructure. Air freight is widely used to deliver fast-speed shipments from consignors to consignees or sellers to buyers globally. It is commonly used for domestic and international shipments, offering a fast and efficient mode of transportation for various types of goods. Air freight offers several advantages, including fast transit times, global reach, reliable schedules, enhanced security measures, and accessibility to major markets.
According to the market analysis, it is expected to expand at a larger CAGR during the forecast period. The increasing demand for efficient and fast transportation of goods across borders owing to the rising international trade and globalization is favoring the market. In line with this, the growing adoption of air freight to deliver non-perishable goods, such as clothing, automotive parts, jewelry, and perishable items, including fruits, vegetables, and meats, which require quick delivery, is impelling the market growth. Moreover, the increasing utilization of air freight in pharmaceuticals, electronics, fashion, and automotive industries for time-sensitive shipments that require quick delivery is providing a thrust to the market growth. Besides this, the emerging aviation industry, the rising import and export of goods, and inflating sales of high-value goods are contributing to the market expansion.
Air Freight Market Trends/Drivers:
Increasing International Trade
The significant growth in international trade is driving the market as it involves the movement of goods across borders to meet global demand. Moreover, there is a growing need for efficient transportation methods as several companies and organizations expand their operations and source materials, components, and finished products from various countries. Additionally, air freight plays a crucial role in times of emergencies, natural disasters, and humanitarian aid efforts as it provides the rapid delivery of relief supplies, medical equipment, and essential goods. Apart from this, the increasing movement of high-value and perishable goods, such as luxury items, electronics, fresh produce, flowers, pharmaceuticals, and other time-critical products owing to the growing international trade, is positively influencing the market growth.
Escalating Demand for Fast-Delivery Services
The significant growth of the e-commerce industry and online retail channels is facilitating the demand for faster shipping options, including same-day or next-day delivery. Moreover, air freight provides fast services to meet the rising demands, which enables e-commerce businesses to offer expedited delivery services and gain a competitive edge in the market. Additionally, air freight helps to optimize supply chain operations by reducing transit times and improving overall logistics efficiency, which aids businesses in minimizing inventory levels, responding more quickly to changes in demand, and improving customer satisfaction. Furthermore, the increasing demand for time-sensitive delivery for pharmaceuticals, electronics, fashion, and automotive industries owing to the short shelf life of several goods, perishable items, or high-value products is supporting the market growth.
Rapid Innovations and Advancements:
Various technological advancements in air freight, such as the utilization of advanced tracking systems, automation, and digitization that help to improve operational efficiency and transparency, driving market growth. In addition to this, the integration of artificial intelligence (AI) to optimize route planning, cargo loading, and routing, predict demand, and detect anomalies or potential issues is creating a positive outlook for the market. Besides this, the leading players are heavily investing in digitalization to improve user experience and efficiency of the booking process for a cargo shipment to the customer.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
Air Freight Industry Segmentation:
IMARC Group provides an analysis of the key trends in each each segment of the global air freight market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on service, destination and end user.
Breakup by Service:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
- Freight
- Express
- Mail
- Others
Freight service is dominating the air freight
The report has provided a detailed breakup and analysis of the market based on the service. This includes freight, express, mail and others. According to the report, freight represented the largest segment.
Freight service is the most preferred as it provides a reliable, efficient, and cost-effective solution for transporting goods domestically and internationally. The freight service providers, also known as freight forwarders or air cargo carriers, specialize in facilitating the movement of cargo from one location to another using air transportation. They also manage the necessary documentation, such as airway bills, customs declarations, and other documents. Moreover, freight helps to ensure proper handling and packaging of the cargo, which includes appropriately securing and protecting the goods that are fragile, hazardous, or require special handling conditions. Furthermore, freight service providers organize the transportation of cargo from the shipper's location to the airport of departure and from the destination airport to the final delivery point, which is acting as a growth-inducing factor.
Breakup by Destination:
International holds a larger share in air freight
A detailed breakup and analysis of the market based on the destination has also been provided in the report. This includes domestic and international. According to the report, international accounted for the largest market share.
International air freight plays a crucial role in global trade and supply chains as it offers the speed and connectivity needed to move goods between distant countries and continents. Moreover, the increasing connectivity across the globe enables seamless transportation of goods between different countries and continents, which is favoring the market growth. The increasing movement of high-value and perishable goods, such as luxury items, electronics, fresh produce, flowers, pharmaceuticals, and other time-critical products, owing to the growing international air freight that provides a faster transit time compared to other modes of transport such as sea or land.
Breakup by End User:
Commercial hold a larger share in air freight
A detailed breakup and analysis of the market based on the end user has also been provided in the report. This includes private and commercial. According to the report, commercial accounted for the largest market share.
Air freight is widely used by commercial end users, including retailers, manufacturers, wholesalers, and other industries, that require these services to transport their goods. The commercial industry relies on air freight for various reasons, such as time-sensitive shipments, perishable items, high-value products, or urgent deliveries. Industries dealing with high-value products, such as electronics, luxury goods, pharmaceuticals, and automotive parts, often rely on air freight to ensure the secure and efficient transportation of their valuable goods. Additionally, commercial end users in the e-commerce sector rely on air freight to fulfill orders quickly, especially for cross-border deliveries and last-mile transportation to reach customers efficiently.
Breakup by Region:
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- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Asia Pacific exhibits a clear dominance, accounting for the largest air freight market share
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
Asia Pacific has witnessed significant growth in the demand for air freight due to rising manufacturing, exports, and trade activities. Furthermore, the rapid expansion in the e-commerce industry in the region is facilitating the demand for cross-border online shopping and the need for efficient and fast air freight services to deliver goods from sellers to buyers, both domestically and internationally, which is positively influencing the market growth. Besides this, governments and private entities in the Asia Pacific region have made significant investments in modernizing airport infrastructure, and expanding existing airports or building new networks is supporting the market growth.
Competitive Landscape:
The market is experiencing significant growth due to the increasing utilization of digital platforms for end-to-end shipment tracking, real-time visibility, automated documentation processes, and online booking systems. Furthermore, key players are increasingly focusing on geographical expansions and mergers and acquisitions (M&A) to expand their customer base. Apart from this, manufacturers are focusing on introducing advanced tracking technologies that provide real-time visibility of shipments throughout the air freight process. Whereas various technological advancements, such as the integration of the Internet of Things (IoT) devices, radio frequency identification (RFID) tags, and global positioning system (GPS) tracking systems, enable accurate monitoring of cargo location, temperature, humidity, and other critical parameters. This enhances supply chain transparency, improves security, and enables proactive management of delays or disruptions, which is positively influencing the market growth. Additionally, the market is witnessing a steady increase in research and development (R&D) initiatives as well as investments resulting in improved technology and a better supply chain.
The report has provided a comprehensive analysis of the competitive landscape in the global air freight market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- American Airlines Inc.
- ANA Cargo Inc.
- Bolloré Logistics
- Cargolux Airlines International S.A.
- Delta Air Lines Inc.
- Deutsche Bahn AG
- Deutsche Post AG
- DSV A/S
- Expeditors International of Washington Inc.
- FedEx Corporation
- Hellmann Worldwide Logistics SE & Co. KG
- Kuehne + Nagel International AG
- Nippon Express Co. Ltd.
- Qatar Airways
- United Parcel Service Inc.
Recent Developments:
- In 2020, American Airlines Inc. announced the launch of new cargo-only flights to meet the growing demand for air freight services during the COVID-19 pandemic. The company has also been expanding its air freight network by adding new destinations and routes.
- In 2020, Delta Air Lines Inc. launched a new cargo tracking system called "Dash Critical & Medical" to provide real-time tracking and monitoring of critical and medical shipments.
- In 2020, UPS partnered with Beta Technologies to develop eVTOL aircraft for package delivery. Moreover, it also launched a new tracking system called "UPSTrack," which provides real-time updates on the location and status of air cargo shipments.
Air Freight Market Report Scope:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
Scope of the Report |
Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Service
- Destination
- End User
- Region
|
Services Covered |
Freight, Express, Mail, Others |
Destinations Covered |
Domestic and International |
End Users Covered |
Private and Commercial |
Regions Covered |
North America, Asia Pacific, Europe, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
American Airlines Inc., ANA Cargo Inc., Bolloré Logistics, Cargolux Airlines International S.A., Delta Air Lines Inc., Deutsche Bahn AG, Deutsche Post AG, DSV A/S, Expeditors International of Washington Inc., FedEx Corporation, Hellmann Worldwide Logistics SE & Co. KG, Kuehne + Nagel International AG, Nippon Express Co. Ltd., Qatar Airways, United Parcel Service Inc., etc. |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the air freight market from 2018-2032.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global air freight market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the air freight industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.