IMARC Group, a leading market research company, has recently releases report titled “Air Freight Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global air freight market share, size, growth, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Table of Contents
Industry Overview of Air Freight
Air freight, also known as air cargo, refers to transporting goods and commodities via aircraft. It offers fast and efficient movement of products across national and international borders. It allows quick and efficient international shipping and enables businesses to access global markets and customers. It also assists companies in maintaining lower inventory levels, which helps reduce storage costs and improve cash flow. It provides controlled environments for goods, which makes it suitable for transporting perishable items and pharmaceuticals. It is used for transporting automobile parts and components, ensuring timely production and assembly, and reducing the chances of theft and damage to cargo.
How Big Is the Air Freight Market?
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.
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What are the growth prospects and trends in the air freight industry?
The rapid growth of online shopping represents one of the key factors catalyzing the demand for air freight services to meet the expectations of quick and reliable product deliveries. Additionally, the widespread adoption of just-in-time inventory strategies is driving the need for rapid and dependable transportation methods like air freight to maintain lean supply chains.
Apart from this, the rising reliance of the electronics industry on air cargo for transporting high-value and time-sensitive components, including semiconductors and consumer electronics, is positively influencing the market.
Moreover, various airlines and cargo carriers are investing in more fuel-efficient aircraft and adopting sustainable practices to reduce emissions, which is propelling the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Service:
- Freight
- Express
- Others
Breakup by Destination:
- Domestic
- International
Breakup by End User:
- Private
- Commercial
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- 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.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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