According to the global air freight market report by IMARC Group, the market reached a value of US$ 287.4 Billion in 2022, and it is projected to reach a value of 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 means of transportation used to deliver shipments quickly by commercial or charter airlines. It can be shipped globally as goods are sent from sellers to buyers or consignors to consignees. It is managed along the chain by numerous organizations, including aircraft and postal operators, regulated agents, haulers, express carriers, and ground handlers, with varying responsibilities. As a result, air freight is gaining immense traction across the globe as it helps contribute to economic development.

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Air Freight Market Trends and Drivers:

The global air freight market is primarily driven by the rising demand for non-perishable goods, such as jewelry, clothing, and automotive parts, and perishable items, including meat, fruits, and vegetables. Moreover, the surging adoption of air freight saves time and offers a higher level of security than other modes of transportation, such as marine, rail, or road, thereby positively influencing the market growth.

Additionally, air freight plays a significant role in the distribution of vaccines through a well-established temperature-sensitive distribution infrastructure, cutting-edge technology, and innovative procedures. In line with this, the widespread integration of the internet of things (IoT) and artificial intelligence (AI) in the air cargo supply chain has catalyzed market growth. Furthermore, air freight requires less packaging than other transportation methods to reduce the weight limit.

Along with this, the rising popularity of consolidated air freight services is contributing to market growth. Other factors, including the rapid expansion in the aviation industry, increasing import and export of goods among numerous countries, rising mergers and acquisitions (M&A) among key players, and technological advancements, are also anticipated to drive the market further.

Global Air Freight Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Air Freight Companies:

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.

The report has segmented the market on the basis of region, 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

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 Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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