Air Cargo Market – Learn All About Air Cargo From The Leading

Faster delivery of shipments compared to other solutions and the rise of consolidated air cargo services are fueling the growth of the global air cargo market

The freight segment maintains its leading position throughout the forecast period

On the basis of service, the freight segment contributed the highest market share in 2019, accounting for around three quarters of the global air freight market, and is expected to maintain its leading position throughout the forecast period. . This is due to the demand for faster delivery of raw and finished industrial products to several industry verticals around the world. However, the express segment is expected to experience the highest CAGR of 7.2% from 2020 to 2027, due to fast (2-3 days) deliveries of goods offered by these services around the world.

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The commercial segment to maintain its leading status during the forecast period

On the basis of end use, the commercial segment held the highest market share, contributing nearly 90% of the global air cargo market in 2019, and will maintain its leading status during the forecast period. This is due to the use in the transport of a wide range of goods through national and international locations. However, the private segment is expected to account for the largest CAGR of 8.8% from 2020 to 2027. This is attributed to the demand for shipping packages as well as perishable and fragile items via charter freight flights.

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Allied Market Research published a report titled “Air Cargo Market by Service (Freight, Express, Courier, and Other), Destination (Domestic and International), and End-Use (Private and Commercial): Global Opportunity Analysis and Forecast. industry, 2020-2027. ”According to the report, the global air cargo industry generated $ 270.2 billion in 2019 and is expected to gross $ 376.8 billion by 2027, registering a CAGR of 5.6% from 2020 to 2027.

Drivers, constraints and opportunities

The rapid delivery of shipments compared to other logistics solutions and the growing popularity of consolidated air freight service are driving the growth of the global air freight market. However, the high costs associated with air freight solutions and strict regulations are hampering the growth of the market. On the other hand, the significant growth of the electronic commerce sector and technological advancements present new opportunities in the coming years.

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Covid-19 scenario
• The strict lockdown imposed by governments has had an impact on air cargo delivery services, as local and international airways have been banned in many countries.
• There has been a significant drop in air cargo capacity, so different air cargo carriers have strived to make the most of the situation by implementing several strategies including aircraft conversions and flights. chartered.
• Although there were long delays in air cargo delivery services during the initial stages of the lockdown, services would resume as air travel and flight schedules get back on track.

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Asia-Pacific, followed by North America, retains leading share in terms of revenue through 2027
Based on region, Asia-Pacific, followed by North America, contributed the highest share in 2019, holding nearly two-fifths of the global air cargo market, and will retain its leading share in terms of revenue by 2027. Moreover, this region is expected to maintain the fastest CAGR of 6.3% during the forecast period. This is attributed to the increase in import-export activities in important countries such as China, India, Japan, South Korea, Australia, among others.

Main market players
• Bolloré Logistics
• Deutsche Post AG
• DSV Panalpina
• Expeditors International of Washington, Inc.
• FedEx
• Hellmann Worldwide Logistics
• Kuehne + Nagel International AG
• Nippon Express
• United Parcel Service, Inc.

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