Air Freight Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Air Freight Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global air freight market size reached US$ 287.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 413.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.7% during 2023-2028.

Air freight, also known as air cargo, is a transportation mode used to deliver fast speed shipments via charter or commercial air carriers. It can be delivered globally as goods sent from consignors to consignees or sellers to buyers. Moreover, it is handled along the chain by numerous entities, such as express carriers, aircraft and postal operators, regulated agents, haulers, and ground handlers, with varying responsibilities. At present, air freight is assisting in contributing to economic development across the globe.

Air Freight Market Trends:

Air freight is utilized for delivering non-perishable goods like jewelry, clothing, automotive parts, and perishable items, including fruits, vegetables, and meats, which require quick delivery. Besides this, it plays a crucial role in the distribution of vaccines through a well-established temperature-sensitive distribution system and cutting-edge technology and procedures. This, in confluence with the burgeoning aviation industry, is bolstering the growth of the market. Additionally, other modes of transportation, such as marine, rail, or road transport, generally take days or weeks to deliver different items. However, transporting goods using air freight saves time and offers a high level of security. It also requires less packaging than other transportation methods to reduce the weight limit. This, coupled with the growing popularity of consolidated air freight services, is positively influencing the market. Apart from this, key players are increasingly focusing on geographical expansions and mergers and acquisitions (M&A) to expand their customer base. This, along with the integration of the internet of things (IoT) and artificial intelligence (AI) in the air cargo supply chain and the rising import and export of goods among numerous countries worldwide, is facilitating the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global air freight market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service, destination and end user.

Breakup by Service:

Freight
Express
Mail
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
 

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and United Parcel Service Inc.

Key Questions Answered in This Report:

What was the size of the global air freight market in 2022?
What is the expected growth rate of the global air freight market during 2023-2028?
What are the key factors driving the global air freight market?
What has been the impact of COVID-19 on the global air freight market?
What is the breakup of the global air freight market based on the service?
What is the breakup of the global air freight market based on the destination?
What is the breakup of the global air freight market based on the end user?
What are the key regions in the global air freight market?
Who are the key players/companies in the global air freight market?