Air Cargo And Freight Logistics Market - By Size, Share, Revenue, Trends And Drivers For 2024-2033
Overview and Scope
Air cargo and freight logistics
refer to the transportation of goods, merchandise, or commodities via air
transport networks. The goal of air cargo and freight logistics is to ensure
efficient, timely, and safe movement of goods through the air transportation
system, meeting the demands of businesses and consumers globally.
Sizing and Forecast
The air cargo and freight
logistics market size has grown strongly in recent years. It will grow from
$208.79 billion in 2023 to $225.06 billion in 2024 at a compound annual growth
rate (CAGR) of 7.8%. The growth in the
historic period can be attributed to the increasing number of internet users
and wide range of products, rise in global trade to spur growth of the market,
increased globalization due to rapid growth of some developing countries,
increasing global trade drives demand for air cargo transportation, expansion
of e-commerce industry.
The air cargo and freight
logistics market size is expected to see strong growth in the next few years.
It will grow to $289.24 billion in 2028 at a compound annual growth rate (CAGR)
of 6.5%. The growth in the forecast
period can be attributed to increasing consumer demand for perishable products,
expansion of e-commerce industry to escalate market demand, growing demand for
pharmaceutical products chemical and valuables and just in time production of
goods, the rise of online shopping, time-sensitive and high-value cargo. Major
trends in the forecast period include automation and digitization transforming
logistics and expanding market prospects, digitization and automation,
blockchain technology, sustainability initiatives, urban air mobility (UAM).
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Segmentation & Regional
Insights
The air cargo and freight
logistics market covered in this report is segmented –
1) By Type: Domestic
Logistics, International Logistics
2) By Service Type:
Express, Regular
3) By Application: Food,
Industrial Materials, Equipment, Other Applications
4) By End-use Industry:
Retail, Manufacturing, Healthcare, Automotive, Agriculture
North America was the largest
region in the air cargo and freight logistics market in 2023. Asia-Pacific is
expected to be the fastest-growing region in the forecast period. The regions
covered in the air cargo and freight logistics market report are Asia-Pacific,
Western Europe, Eastern Europe, North America, South America, Middle East,
Africa.
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Major Driver Impacting Market
Growth
Rising e-commerce is expected to
propel the growth of the air cargo and freight logistics markets going forward.
E-commerce refers to the buying and selling of goods and services, or the
transmitting of funds or data, over an electronic network, primarily the
Internet. The rise in access to the internet globally has expanded the
potential customer base for online retailers, allowing them to reach consumers
in remote areas. Air cargo and freight logistics serve as the backbone for
swift and reliable transportation of goods, enabling e-commerce businesses to
meet the demands of online consumers with speed and precision. For instance, in
November 2023, according to the International Trade Administration, a US-based
government agency, e-commerce revenues in the UK are expected to have an annual
average growth rate of 12.6% by 2025. Furthermore, as of January 2021, consumer
e-commerce accounted for 36.3% of the UK's overall retail industry, with
e-commerce revenue expected to reach $285.60 billion by 2025. Therefore, rising
e-commerce and online retail sales are driving the growth of the air cargo and
freight logistics markets.
Key Industry Players
Major companies operating in the
air cargo and freight logistics market are Deutsche Post DHL Group, United
Parcel Service, FedEx Corporation, Deutsche Lufthansa AG, DSV AS, DB Schenker,
Expeditors International of Washington, Kuehne + Nagel International AG,
Singapore Airlines Limited, Korean Air Co., Air China Limited, Cathay Pacific
Airways Limited, Bolloré Logistics, China Airlines Limited, EgyptAir Cargo,
Canada Air Cargo & Freight Logistics Inc., Kalitta Air LLC, CEVA Logistics,
Titan Sea & Air Services, Horizon International Cargo Inc., Lavin Star
Trading LLC, Rosan Sea Air Services, Velocity Freight, Air Cargo & Freight
Logistics India Pvt Ltd., ENS Logistics India Pvt Ltd., Qatar Airways Group,
SNCF Logistics, American Airlines Cargo
The air cargo and freight
logistics market report table of contents includes:
1. Executive Summary
2. Air Cargo And Freight Logistics
Market Characteristics
3. Air Cargo And Freight Logistics
Market Trends And Strategies
4. Air Cargo And Freight Logistics
Market - Macro Economic Scenario
5. Global Air Cargo And Freight
Logistics Market Size and Growth
............................
32. Global Air Cargo And Freight
Logistics Market Competitive Benchmarking
33. Global Air Cargo And Freight
Logistics Market Competitive Dashboard
34. Key Mergers And Acquisitions
In The Air Cargo And Freight Logistics Market
35. Air Cargo And Freight
Logistics Market Future Outlook and Potential Analysis
36. Appendix
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