What is the global market size of Air Freight Market?

Global Air Freight Market size was valued at USD 66.6 billion in 2021 and is poised to grow from USD 67.2 billion in 2022 to USD 133.47 billion by 2030, growing at a CAGR of 10.3% during the forecast period (2023-2030).

Who are the key vendors in the Global Air Freight Market?

The global air freight market is characterized by a diverse range of companies spanning airlines, freight forwarders, logistics providers, and integrators. These companies compete based on factors such as service reliability, network coverage, pricing, and technological capabilities. The market is highly fragmented, with numerous players vying for market share. Some focus on specific regions or niche markets, while others offer comprehensive global solutions. Continuous innovation, strategic partnerships, and investments in technology and infrastructure are crucial for companies to stay competitive in this dynamic and evolving industry. 'DHL (Germany)', 'FedEx Corporation (US)', 'UPS (US)', 'C.H. Robinson (US)', 'Kuehne + Nagel (Switzerland)', 'DB Schenker (Germany)', 'Nippon Express (Japan)', 'Expeditors International (US)', 'Panalpina (Switzerland)', 'Sinotrans (China)', 'CEVA Logistics (Switzerland)', 'DSV Panalpina (Denmark)', 'Agility Logistics (Kuwait)', 'Yusen Logistics (Japan)', 'Geodis (France)', 'Hellmann Worldwide Logistics (Germany)', 'XPO Logistics (US)', 'Kerry Logistics (Hong Kong)', 'Dimerco (Taiwan)', 'Bolloré Logistics (France)'.

What is the key driver of Global Air Freight Market?

One key driver of the global air freight market is the rapid growth of e-commerce. The rise of online shopping and cross-border e-commerce has led to an increased demand for fast and reliable transportation of goods. Air freight offers expedited delivery times, making it an ideal choice for time-sensitive shipments. As consumers increasingly rely on e-commerce platforms, the air freight industry is expected to continue its growth trajectory, driven by the need to meet the demands of this booming sector.

What is the key market trend for Global Air Freight Market?

One key trend in the global air freight market is the growing emphasis on sustainability and eco-friendly practices. With increasing environmental concerns, customers and stakeholders are demanding greener and more sustainable supply chain solutions. Air freight companies are adopting measures such as investing in fuel-efficient aircraft, utilizing alternative fuels, optimizing route planning, and implementing carbon offset programs. The integration of sustainable practices not only helps reduce the industry's carbon footprint but also enhances brand reputation and attracts environmentally conscious customers in a market increasingly focused on sustainability.

Which region accounted for the largest share in Global Air Freight Market?

North America dominated the global air freight market. The region's robust economy, advanced transportation infrastructure, and high demand for time-sensitive shipments contribute to its strong position. Major players in the North American air freight market include UPS, FedEx, and DHL. The United States, in particular, is a key market in the region, accounting for a significant share of air freight volumes.

Air Freight Companies

Air Freight Market Competitive Landscape

Air Freight Market Top Player’s Company Profiles

DHL (Germany)

FedEx Corporation (US)

UPS (US)

C.H. Robinson (US)

Kuehne + Nagel (Switzerland)

DB Schenker (Germany)

Nippon Express (Japan)

Expeditors International (US)

Panalpina (Switzerland)

Sinotrans (China)

CEVA Logistics (Switzerland)

DSV Panalpina (Denmark)

Agility Logistics (Kuwait)

Yusen Logistics (Japan)

Geodis (France)

Hellmann Worldwide Logistics (Germany)

XPO Logistics (US)

Kerry Logistics (Hong Kong)

Dimerco (Taiwan)

Bolloré Logistics (France)

Air Freight Market

FAQs

Global Air Freight Market size was valued at USD 67.2 billion in 2022 and is poised to grow from USD 74.12 billion in 2023 to USD 162.39 billion by 2031, growing at a CAGR of 10.3% during the forecast period (2024-2031).

Air freight providers should focus on increasing their capacity whilst keeping the operational costs minimum to maximize their profitability. Investing in the use of sustainable aviation fuel and electric aircraft could pay off big time for air freight companies in the long run. Collaborating and partnering with e-commerce companies could also help widen the business scope for air freight market players in the long run. 'DHL (Germany)', 'FedEx Corporation (US)', 'UPS (US)', 'C.H. Robinson (US)', 'Kuehne + Nagel (Switzerland)', 'DB Schenker (Germany)', 'Nippon Express (Japan)', 'Expeditors International (US)', 'Panalpina (Switzerland)', 'Sinotrans (China)', 'CEVA Logistics (Switzerland)', 'DSV Panalpina (Denmark)', 'Agility Logistics (Kuwait)', 'Yusen Logistics (Japan)', 'Geodis (France)', 'Hellmann Worldwide Logistics (Germany)', 'XPO Logistics (US)', 'Kerry Logistics (Hong Kong)', 'Dimerco (Taiwan)', 'Bolloré Logistics (France)'

Changing consumer preferences and growing disposable income of people have led an e-commerce boom around the world. As people shop more from these e-commerce platforms, they expect faster deliveries through offerings such as next-day delivery or same-day delivery. Use of air freight for fulfillment of such orders in e-commerce will drive market growth.

Use of Sustainable Aviation Fuel: Air freight companies can focus on utilization of sustainable aviation fuel in their aircraft to comply with modern emission mandates and promote sustainability. Investing in the development and use of electric aircraft can also help air freight companies expand their business in an eco-friendly way in the long run.

North America is estimated to be the leading market for all air freight companies in the world. The presence of a developed air travel and cargo infrastructure and presence of top e-commerce companies are helping this region maintain its lead in the global air freight market. Moreover, the presence of key aircraft manufacturing companies such as Boeing and Lockheed Martin in the United States cements it as the leading revenue generator for all air freight companies operating in the North American region. Canada is also a lucrative market for air freight providers working in this region. High consumer spending potential and demand for faster deliveries will also promote market growth.

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Air Freight Market Size, Share, Growth Analysis, By Type(Domestic Air Freight and International Air Freight), By End-User(Airport-To-Airport Service, and Door-To-Door Service), By Region - Industry Forecast 2024-2031

Air Freight Market Competitive Landscape

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Air Freight Market Size, Share, Growth Analysis, By Type(Domestic Air Freight and International Air Freight), By End-User(Airport-To-Airport Service, and Door-To-Door Service), By Region - Industry Forecast 2024-2031

Air Freight Market Competitive Landscape

Air Freight Market Report Snapshots

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FAQs

What is the global market size of Air Freight Market?

Who are the key vendors in the Air Freight Market?

What is the key driver of Air Freight Market?

What is the key market trend for Air Freight Market?

Which region accounted for the largest share in Air Freight Market?

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