Air Freight Services

Air Freight Services

Global Air Freight Services Market to Reach US$269.1 Billion by 2030

The global market for Air Freight Services estimated at US$223.1 Billion in the year 2023, is expected to reach US$269.1 Billion by 2030, growing at a CAGR of 2.7% over the analysis period 2023-2030. Freight Service, one of the segments analyzed in the report, is expected to record a 2.8% CAGR and reach US$103.6 Billion by the end of the analysis period. Growth in the Express Service segment is estimated at 3.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$60.8 Billion While China is Forecast to Grow at 5.3% CAGR

The Air Freight Services market in the U.S. is estimated at US$60.8 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$54.0 Billion by the year 2030 trailing a CAGR of 5.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 0.8% and 2.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.4% CAGR.

Global Air Freight Services Market - Key Trends & Drivers Summarized

How Is Air Freight Evolving in a Globalized Economy?
Air freight services have long been a cornerstone of global trade, offering fast and reliable transportation of goods across continents. As global supply chains become more complex and e-commerce continues to expand, the need for expedited shipping has driven increased demand for air freight. Key industries such as pharmaceuticals, electronics, and high-value goods rely heavily on air freight for the rapid movement of time-sensitive products. Moreover, the ongoing recovery from the COVID-19 pandemic has highlighted the importance of air freight in transporting medical supplies and vaccines across the world. In addition to its role in global trade, air freight also supports just-in-time manufacturing processes, where fast delivery of parts and components is critical to maintaining production timelines.

What Are the Technological Trends Shaping Air Freight Services?
Technological advancements are transforming the air freight industry, making it more efficient, reliable, and responsive to the needs of modern commerce. Automation and digitization have significantly improved cargo tracking and logistics management, allowing for real-time updates and greater transparency throughout the shipping process. The use of blockchain technology is also gaining traction, providing enhanced security and traceability for high-value shipments. Additionally, innovations in aircraft design, such as the development of more fuel-efficient cargo planes and the use of drones for short-distance deliveries, are helping to reduce operational costs and improve service reliability. These technological advancements are not only enhancing the performance of air freight services but are also helping companies meet growing environmental regulations aimed at reducing the carbon footprint of air transportation.

How Are Changing Consumer and Business Demands Impacting Air Freight Services?
Consumer and business demands are shifting the air freight market towards faster, more flexible services. The rise of e-commerce has led to an increase in smaller, more frequent shipments, requiring air freight companies to adapt their operations to accommodate high-volume, low-weight parcels. As businesses focus on meeting the expectations of same day and next day delivery, air freight has become a critical component of last-mile logistics for international shipments. On the business side, just-in-time manufacturing and the globalization of supply chains have intensified the need for fast and reliable air transport, particularly for industries such as electronics, automotive, and pharmaceuticals. Companies are also prioritizing air freight for high-value goods that require secure and controlled environments, further boosting demand.

What Are the Key Drivers Fueling Growth in the Air Freight Services Market?
The growth in the air freight services market is driven by several factors, including the rapid expansion of e-commerce and the increasing demand for fast, global shipping solutions. Technological advancements in tracking, automation, and cargo management have improved the efficiency and reliability of air freight operations, making it easier for companies to meet tight delivery schedules. The rise in just-in-time manufacturing and the globalization of supply chains have also created a growing need for air freight to transport critical components and high-value goods. Additionally, the increased reliance on air freight for transporting medical supplies and pharmaceuticals, particularly during the COVID-19 pandemic, has underscored the importance of air freight services in supporting global health and safety initiatives. Emerging markets in Asia-Pacific and Latin America, where trade and logistics infrastructure are expanding, offer significant growth opportunities for air freight providers.

Select Competitors (Total 38 Featured) -

• A.P. Moller-Maersk A/S
• Cargolux Airlines International S.A.
• CEVA Logistics
• China Cargo Airlines
• DSV A/S
• Emirates SkyCargo
• FedEx Corporation
• Japan Airlines Co., Ltd.
• Kintetsu World Express, Inc.
• LATAM Cargo

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