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 the backbone of global commerce, facilitating the movement of goods and connecting companies worldwide. Air freight has grown exponentially in recent years due to the growing global economy, evolving consumer preferences and technological advances, cross-border trade is the main driver for market growth, which is expected to accelerate in the coming years. The demand for fast and efficient international shipping is strong as global trade grows.  

New features were introduced to the digital air cargo market in April 2023, allowing import control companies to quickly write shipping orders to agents in other countries. Air freight is a technique of transporting goods through specialized cargo plane, considering the efficient and rapid delivery of goods round the world. The speedy increase of e-trade has turn out to be a major driving force inside the market. According to a document launched through the International Air Transport Association (IATA) in March 2021, worldwide e-trade retail income rose 27.6% year-on-year to $4.280 billion due to the tremendous growth of online shopping.

US Air Cargo Market is poised to grow at a sustainable CAGR for the next forecast year.