Global Air Cargo & Freight Logistics Market Growth Analysis 2023-2030

Oct 30, 2023

Market Size and Growth: The global Air Cargo & Freight Logistics market is a significant and rapidly growing industry. In 2022, the market was valued at a substantial $196,956 million. Over the forecast period of 2023 to 2029, it is expected to experience substantial growth, with an anticipated market value of $319,645 million by the end of 2029. This growth is projected to occur at a Compound Annual Growth Rate (CAGR) of 6.62%. This impressive growth rate indicates a strong and expanding demand for air cargo and freight logistics services.

The Asia Pacific region is the largest and fastest-growing market for air cargo.
The e-commerce segment is the largest and fastest-growing segment of the air cargo market.

Report Sample includes:

Table of Contents
List of Tables & Figures
Charts
Research Methodology

Get FREE Sample of this Report at https://www.intelmarketresearch.com/download-free-sample/44/air-cargo-freight-logistics

Geographical Insights:

North America: The North American market for Air Cargo & Freight Logistics is poised for significant expansion. In 2023, its estimated value is $217,584 million, and this figure is anticipated to reach $319,645 million by 2029. What's noteworthy is that the growth rate mirrors the global average, with a CAGR of 6.62%. This demonstrates that the North American region is keeping pace with the overall global growth in this industry.
Asia-Pacific: The Asia-Pacific market presents an even more robust growth trajectory. In 2023, it's estimated to be valued at $56,494 million, and by 2029, it's projected to reach $87,030 million. The key takeaway here is the higher CAGR of 7.47% during the forecast period. This indicates that the Asia-Pacific region is experiencing faster growth compared to the global average, potentially due to factors such as increased trade and economic development in the region.

North America: The North American market for Air Cargo & Freight Logistics is poised for significant expansion. In 2023, its estimated value is $217,584 million, and this figure is anticipated to reach $319,645 million by 2029. What's noteworthy is that the growth rate mirrors the global average, with a CAGR of 6.62%. This demonstrates that the North American region is keeping pace with the overall global growth in this industry.

Asia-Pacific: The Asia-Pacific market presents an even more robust growth trajectory. In 2023, it's estimated to be valued at $56,494 million, and by 2029, it's projected to reach $87,030 million. The key takeaway here is the higher CAGR of 7.47% during the forecast period. This indicates that the Asia-Pacific region is experiencing faster growth compared to the global average, potentially due to factors such as increased trade and economic development in the region.

Perishable Goods: The air cargo and freight logistics industry's involvement in the transportation of perishable goods is of particular importance. The market for the transportation of perishable goods is set to grow from $69,564 million in 2023 to $110,740 million by 2029. This growth is expected to occur at a CAGR of 6.28%. This data suggests that there is a substantial and increasing demand for the secure and efficient transportation of goods with limited shelf life, including items like fresh produce, pharmaceuticals, and other temperature-sensitive items.

Key Players: The Air Cargo & Freight Logistics industry is highly competitive, but it also has a degree of concentration, with a few major global players dominating the market. Notable companies in this industry include FedEx, UPS, DSV, Deutsche Post DHL Group, Bollore, Expeditors International, Qatar Airways, Korean Air, and DB Schenker. In 2022, the top three vendors accounted for approximately 32.94% of the total revenue, which illustrates the significant market share held by these key players. This concentration suggests that these companies play a pivotal role in shaping the industry's dynamics and competitiveness.

Air Cargo & Freight Logistics is an industry dedicated to the transportation of goods and commodities via air travel. It holds a pivotal role in the global landscape of trade and supply chain management, expediting the movement of products across the globe with efficiency and speed.

Here are some fundamental aspects of the Air Cargo & Freight Logistics industry:

Airborne Transportation: This sector is primarily associated with the conveyance of goods by aircraft. It covers a diverse range of cargo, spanning from delicate perishable items and pharmaceuticals to heavy machinery and everyday consumer products.
Comprehensive Logistics Services: Going beyond mere transportation, air cargo and freight logistics encompass a spectrum of services such as warehousing, packaging, customs clearance, and the seamless distribution of goods.
Facilitating Global Connections: Air cargo forms the linchpin of global connectivity, delivering swift and dependable transport solutions. It holds particular significance in the context of time-sensitive shipments and industries like manufacturing, healthcare, and e-commerce.
Economic Significance: The industry is a robust contributor to the world economy, playing a pivotal role in sustaining international trade and commerce. It accelerates the delivery of products to markets across the planet.
Technological Advancements: Technological innovations, encompassing tracking systems and management software, have brought about a paradigm shift in the industry. These advancements enhance the efficiency and transparency of goods in transit.
Environmental Considerations: There is a growing emphasis on environmental sustainability within the industry, with a focus on curbing carbon emissions. Efforts are underway to make air cargo operations more ecologically responsible.
Major Players: Notable entities in the Air Cargo & Freight Logistics industry include internationally recognized carriers such as FedEx, UPS, DHL, and prominent airlines like Qatar Airways and Korean Air. Additionally, there is a multitude of smaller carriers and logistics providers operating in the sector.
Market Dynamics: The industry operates in a dynamic environment influenced by various factors, including economic conditions, geopolitical events, and shifts in regulations. These elements can significantly impact demand and the overall market landscape.

Airborne Transportation: This sector is primarily associated with the conveyance of goods by aircraft. It covers a diverse range of cargo, spanning from delicate perishable items and pharmaceuticals to heavy machinery and everyday consumer products.

Comprehensive Logistics Services: Going beyond mere transportation, air cargo and freight logistics encompass a spectrum of services such as warehousing, packaging, customs clearance, and the seamless distribution of goods.

Facilitating Global Connections: Air cargo forms the linchpin of global connectivity, delivering swift and dependable transport solutions. It holds particular significance in the context of time-sensitive shipments and industries like manufacturing, healthcare, and e-commerce.

Economic Significance: The industry is a robust contributor to the world economy, playing a pivotal role in sustaining international trade and commerce. It accelerates the delivery of products to markets across the planet.

Technological Advancements: Technological innovations, encompassing tracking systems and management software, have brought about a paradigm shift in the industry. These advancements enhance the efficiency and transparency of goods in transit.

Environmental Considerations: There is a growing emphasis on environmental sustainability within the industry, with a focus on curbing carbon emissions. Efforts are underway to make air cargo operations more ecologically responsible.

Major Players: Notable entities in the Air Cargo & Freight Logistics industry include internationally recognized carriers such as FedEx, UPS, DHL, and prominent airlines like Qatar Airways and Korean Air. Additionally, there is a multitude of smaller carriers and logistics providers operating in the sector.

Market Dynamics: The industry operates in a dynamic environment influenced by various factors, including economic conditions, geopolitical events, and shifts in regulations. These elements can significantly impact demand and the overall market landscape.

Report Scope

This report aims to provide a comprehensive presentation of the global market for Air Cargo & Freight Logistics, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situ ation, analyze their position in the current marketplace, and make informed business decisions regarding Air Cargo & Freight Logistics.

The Air Cargo & Freight Logistics market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Air Cargo & Freight Logistics market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the Air Cargo & Freight Logistics companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.

By Company

FedEx
UPS
DSV
Deutsche Post DHL Group
Bollore
Expeditors International
Qatar Airways
Korean Air
DB Schenker
Emirates
S.F.Holding
Deutsche Lufthansa
China Airlines
Cargolux
Cathay Pacific
Turkish Airlines
CMA CGM (CEVA Logistics)
Nippon Express
China Postal Airlines
Volga-Dnepr Airlines

Segment by Type

Domestic Logistics
International Logistics

Segment by Application

Perishable Goods
Industrial
Pharmaceutical and Healthcare
Others

Cargo Type:

General Cargo
Special Cargo (e.g., perishables, pharmaceuticals, hazardous materials)
Oversized and Heavy Cargo

Logistics Providers:

Third-Party Logistics (3PL) Providers
Airlines and Air Cargo Carriers
Integrators (e.g., UPS, FedEx)
Freight Brokers

End User:

Manufacturing and Industrial
Retail and E-commerce
Healthcare and Pharmaceuticals
Automotive
Aerospace and Defense
Energy and Oil & Gas g.
Others

By Region

North America (United States, Canada, Mexico)
Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
The Middle East and Africa (Middle East, Africa)
South and Central America (Brazil, Argentina, Rest of SCA)

Recent Development:

The International Air Transport Association (IATA) reported that demand for air cargo declined by 7.7% in March 2023, compared to the previous year. This trend began in March 2022 and has continued for 13 months.
However, the IATA also reported that capacity increased by 11.2% in July 2022, compared to the previous year. This increase was due to the growth in belly capacity, which increased by 29.3% year-on-year.
Industry experts predict that the air cargo sector will have increased capacity in 2023, due to the recovery of the belly space of passenger flights. This could also lead to a drop in freight rates.
FedEx Express is the largest cargo airline in the world.

The Rise of E-commerce: E-commerce has seen explosive growth, and this trend is a major driver of the air cargo industry. Consumers now expect swift deliveries of their online purchases, pushing logistics providers to optimize their services for speed and reliability. Air cargo is a crucial component of this equation, enabling the rapid fulfillment of online orders and the meeting of customer expectations for quick delivery times.

The Expansion of Global Trade: Globalization continues to shape our world, with businesses seeking to expand into new markets and reach a broader customer base. Air cargo services are in high demand as companies strive to transport goods swiftly and efficiently across borders. Whether it's raw materials, finished products, or components, air cargo plays a vital role in facilitating global trade by significantly reducing transit times.

The Development of New Technologies: Advancements in technology are revolutionizing the air cargo and freight logistics industry. Data analytics and artificial intelligence are being employed to enhance the efficiency and profitability of logistics operations. These technologies assist in route optimization, demand forecasting, and real-time tracking, making the movement of goods more precise and streamlined.

The Growing Importance of Sustainability: Environmental sustainability is gaining prominence across industries, and the air cargo sector is no exception. The industry is actively seeking greener solutions to minimize its environmental impact. This includes innovations in fuel-efficient aircraft, alternative energy sources, and sustainable packaging practices. These developments not only align with global sustainability goals but also respond to customer preferences for environmentally friendly transportation.

Get the Complete Report & TOC at https://www.intelmarketresearch.com/aerospace-and-defense/44/air-cargo-freight-logistics

CONTACT US:

276 5th Avenue, New York , NY 10001,United States
International: (+1) 646 781 7170

Email: [email protected]