Air Cargo Market Size, Share, Growth Analysis, By Type of cargo(General cargo, perishable goods, pharmaceuticals, e-commerce parcels), By Service type(Express delivery, freight forwarding, charter services, and courier services), By Region - Industry Forecast 2024-2031

Global Air Cargo Market size was valued at USD 131.09 Billion in 2022 and is poised to grow from USD 138.69 Billion in 2023 to USD 217.74 Billion by 2031, at a CAGR of 5.80% during the forecast period (2024-2031).

The air cargo market is characterized by fierce competition, with many global and regional players competing for market share. Factors such as service quality, speed of delivery, global network reach, capacity, and innovative solutions that increase operational efficiency determine the competitive landscape. Major players such as FedEx Express, DHL Aviation and UPS Airlines are dominating the global air cargo market, leveraging their extensive networks, advanced logistics capabilities and fleet capabilities. 'FedEx Corporation (US)', 'DHL International GmbH (Germany)', 'Emirates SkyCargo (UAE)', 'Cathay Pacific Airways Limited (Hong Kong)', 'Korean Air Cargo (South Korea)', 'Cargolux Airlines International S.A. (Luxembourg)', 'Lufthansa Cargo AG (Germany)', 'Singapore Airlines Cargo (Singapore)', 'Air France-KLM Cargo (France/Netherlands)', 'China Airlines Cargo (Taiwan)', 'Qatar Airways Cargo (Qatar)', 'Turkish Airlines Cargo (Turkey)', 'British Airways World Cargo (UK)', 'Japan Airlines Cargo (Japan)', 'All Nippon Airways (ANA) Cargo (Japan)', 'LATAM Cargo (Chile)', 'Saudi Arabian Airlines Cargo (Saudi Arabia)', 'Atlas Air Worldwide Holdings, Inc. (US)', 'Ethiopian Airlines Cargo & Logistics Services (Ethiopia)'

One of the major drivers of the air cargo market is the rapid growth of e-commerce. With online shopping becoming a strong trend across the globe. The demand for fast and efficient delivery solutions, especially for expensive and perishable goods, is increasing. Air freight delivers time faster compared to other modes of transportation and aims to meet customer expectations on- time delivery. It is becoming a preferred product of commercial companies and as a result, aircraft integration of logistics services into the global supply chain has become a key driver for the continued expansion of the e-commerce industry. 

Technological Integration and Digitalization: One of the most prominent trends within the air cargo marketplace is the mixing of digital technologies to enhance the performance and transparency. These advancements help lessen errors, streamline operations, and enhance consumer pleasure by using imparting actual-time monitoring statistics.

North America is the dominating region in the global air cargo market, each playing a different role in the growth of the industry. North America, especially the U.S., is the largest and mature market. It is a hub for both domestic and international air freight, driven by strong e-commerce demand and complex logistics policies for Air majors such as FedEx, UPS and DHL have a large operation. North America benefiting from a well-established supply chain, in terms of a combination of logistics and advanced technologies.