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Air Freight Market

Air Freight Market Size, Share & Trends Analysis Report By Service (Freight, Express, Mail, and Other Services), Destination (Domestic and International), and End-Use (Private and Commercial), By Region, And Segment Forecasts, 2024-2031

Report ID : 1632 | Published : 2024-06-11 | Pages: 180 | Format: PDF/EXCEL

The Global Air Freight Market Size is valued at 300.93 billion in 2023 and is predicted to reach 484.12 billion by the year 2031 at a 6.25% CAGR during the forecast period for 2024-2031.

Air Freight solutions are designed to meet the demands of businesses that engage in air and ground transportation. Industrial and passenger cargo can be transported securely and safely from one point to another using these technologies. Air Freight technologies, which provide more affordable and practical options for speedier and easier transportation, are used to trace the item. 

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The demand for enhanced Air Freight systems is rising as a result of population increase and the outsourcing of manufacturing operations. One of the main elements promoting the development of Air Freight solutions is the demand for the safety and security of shipments. For normal trading and shipping firms, on-time delivery and cost-effectiveness are top priorities. Tools are available through Air Freight solutions to meet and address these issues. This has further improved the market for freight management systems growth prospects.

Additionally, faster and better transportation and growth in air cargo volume has led to a greater need for Air Freight solutions.

Furthermore, technological developments are influencing advancements in the market for Air Freight, including the integration of software for finance, personnel management, and customer relationship management to support the organization's end-to-end operation. Strong infrastructure, rising maintenance costs, and hefty setup prices are some of the sector's biggest obstacles. 

Recent Development:

  • In 2022, Turkish Cargo said that it has been investing in technology and infrastructure in order to offer privileged shipment solutions that are flexible, cost-effective, and convenient through the use of three new air cargo service models, namely TK SMART, TK PREMIUM, and TK URGENT.
  • In 2022, as part of a range of priority options for its clients, Cathay Pacific Airways Limited developed specific booking tiers for cargo shipments. Due to shipping priority, which includes quicker shipping, increased capacity, and shipment assurance, customers will have more options and more clearly defined service options. 

Competitive Landscape:

Some of the Air Freight Market Player are:

  • Bolloré Logistics
  • DB SCHENKER (Deutsche Bahn Group (DB GROUP))
  • Deutsche Post AG (DHL GROUP)
  • DSV Panalpina
  • Expeditors International of Washington, Inc.
  • FedEx
  • Hellmann Worldwide Logistics
  • Kuehne+Nagel International AG
  • Nippon Express
  • United Parcel Service, Inc. (UPS) 

Market Segmentation:

The Air Freight market is segmented on service, destination and end-use. Based on service, the market is categorized into freight, express, mail and other services. Based on the destination, the market is segmented into domestic and international. Based on end-use, the Air Freight market is segmented into private and commercial.

Based On Service, The Freight Segment Is Accounted As A Major Contributor To The Air Freight Market

The freight category grabbed the highest revenue share, and it is projected that it will continue to maintain that position during the anticipated time. The expansion of air freight fleets across various locations is one of the factors propelling the growth of the regular services segment. The majority of operators of cargo aircraft have been pressing for expenditures to expand their own fleets of air cargo aircraft. To do this, the operators are concentrating on developing teamwork and aircraft leasing techniques, in which the businesses rent out cargo aircraft models to various customers, allowing them to expand into new areas.

The International Segment Witnessed Growth At A Rapid Rate

The construction & infrastructure category is anticipated to grow significantly over the forecast period. The quickest delivery method for goods across international borders is via cargo jets. Additionally, air cargo is the safest way of shipping orders internationally because it requires the least handling and airport safety measures are closely enforced. This reduces the possibility of theft and shipment damage. Additionally, because air cargo shipments are typically short, insurance costs are frequently modest. These elements make Air Freight systems superior and necessary for moving products. Importing high-value commodities like electronics, jewelry, medications, perishables, and other items through air cargo is advantageous.

North America Air Freight Market Hold A Significant Revenue Share In The Region

North America Air Freight market is expected to record the highest market share in revenue shortly. This is made feasible by regional users' widespread adoption of Air Freight products and services. High levels of technological adoption and the presence of important solution providers will affect how quickly the North American Air Freight system market will expand. Air Freight software is widely used in the US and Canada, two nations in North America. In addition, the European is projected to grow at a rapid rate in the global Air Freight market. This can be attributed to the increasing cargo freight handled by the area's logistics sector. Additionally, it is anticipated that the industry in the area will grow due to the major market players' rising investments in developing improved Air Freight software. The expansion is also credited to the presence of numerous important players in this area.

Air Freight Market Report Scope:

Report Attribute

Specifications

Market size value in 2023

USD 300.93 Bn

Revenue forecast in 2031

USD 484.12 Bn

Growth rate CAGR

CAGR of 6.25% from 2024 to 2031

Quantitative units

Representation of revenue in US$ Billion, and CAGR from 2024 to 2031

Historic Year

2019 to 2023

Forecast Year

2024-2031

Report coverage

The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends

Segments covered

Service, Destination And End-Use

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

Competitive Landscape

Bolloré Logistics, DB SCHENKER (Deutsche Bahn Group (DB GROUP)), Deutsche Post AG (DHL GROUP), DSV Panalpina , Expeditors International of Washington, Inc., FedEx, Hellmann Worldwide Logistics, Kuehne+Nagel International AG, Nippon Express and United Parcel Service, Inc. (UPS).

Customization scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing and available payment methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Air Freight Market Snapshot

Chapter 4. Global Air Freight Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Service Estimates & Trend Analysis
5.1. by Service & Market Share, 2023 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Service:

5.2.1. Freight
5.2.2. Express
5.2.3. Mail
5.2.4. Other Services

Chapter 6. Market Segmentation 2: by Destination Estimates & Trend Analysis
6.1. by Destination & Market Share, 2023 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Destination:

6.2.1. Domestic
6.2.2. International

Chapter 7. Market Segmentation 3: by End-Use Estimates & Trend Analysis
7.1. by End-Use & Market Share, 2023 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End-Use:

7.2.1. Private
7.2.2. Commercial

Chapter 8. Air Freight Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Air Freight Market Revenue (US$ Million) Estimates and Forecasts by Service, 2023-2031
8.1.2. North America Air Freight Market Revenue (US$ Million) Estimates and Forecasts by Destination, 2023-2031
8.1.3. North America Air Freight Market Revenue (US$ Million) Estimates and Forecasts by End-Use, 2023-2031
8.1.4. North America Air Freight Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

8.2. Europe

8.2.1. Europe Air Freight Market Revenue (US$ Million) Estimates and Forecasts by Service, 2023-2031
8.2.2. Europe Air Freight Market Revenue (US$ Million) Estimates and Forecasts by Destination, 2023-2031
8.2.3. Europe Air Freight Market Revenue (US$ Million) Estimates and Forecasts by End-Use, 2023-2031
8.2.4. Europe Air Freight Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

8.3. Asia Pacific

8.3.1. Asia Pacific Air Freight Market Revenue (US$ Million) Estimates and Forecasts by Service, 2023-2031
8.3.2. Asia Pacific Air Freight Market Revenue (US$ Million) Estimates and Forecasts by Destination, 2023-2031
8.3.3. Asia-Pacific Air Freight Market Revenue (US$ Million) Estimates and Forecasts by End-Use, 2023-2031
8.3.4. Asia Pacific Air Freight Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

8.4. Latin America

8.4.1. Latin America Air Freight Market Revenue (US$ Million) Estimates and Forecasts by Service, 2023-2031
8.4.2. Latin America Air Freight Market Revenue (US$ Million) Estimates and Forecasts by Destination, 2023-2031
8.4.3. Latin America Air Freight Market Revenue (US$ Million) Estimates and Forecasts by End-Use, 2023-2031
8.4.4. Latin America Air Freight Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

8.5. Middle East & Africa

8.5.1. Middle East & Africa Air Freight Market Revenue (US$ Million) Estimates and Forecasts by Service, 2023-2031
8.5.2. Middle East & Africa Air Freight Market Revenue (US$ Million) Estimates and Forecasts by Destination, 2023-2031
8.5.3. Middle East & Africa Air Freight Market Revenue (US$ Million) Estimates and Forecasts by End-Use, 2023-2031
8.5.4. Middle East & Africa Air Freight Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles


9.2.1. Bolloré Logistics
9.2.2. DB SCHENKER (Deutsche Bahn Group (DB GROUP))
9.2.3. Deutsche Post AG (DHL GROUP)
9.2.4. DSV Panalpina
9.2.5. Expeditors International of Washington, Inc.
9.2.6. FedEx
9.2.7. Hellmann Worldwide Logistics
9.2.8. Kuehne+Nagel International AG
9.2.9. Nippon Express
9.2.10. United Parcel Service, Inc. (UPS)
9.2.11. Other Prominent Players

Segmentation of Air Freight Market-

Air Freight Market By Service

  • Freight
  • Express
  • Mail
  • Other Services 

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Air Freight Market By Destination

  • Domestic
  • International

Air Freight Market By End-Use

  • Private
  • Commercial

Air Freight Market By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Air Freight Market?

Air Freight Market expected to grow at a 6.25% CAGR during the forecast period for 2024-2031

Bolloré Logistics, DB SCHENKER (Deutsche Bahn Group (DB GROUP)), Deutsche Post AG (DHL GROUP), DSV Panalpina , Expeditors International of Washington,

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