DUBLIN, Feb. 21, 2023 /PRNewswire/ — The “Freight Chartered Air Transport Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global freight chartered air transport market will grow from $23.80 billion in 2022 to $26.58 billion in 2023 at a compound annual growth rate (CAGR) of 11.7%. The freight chartered air transport market is expected to grow to $40.24 billion in 2027 at a CAGR of 10.9%.
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Major players in the freight chartered air transport services market are Air Charter Service, Air Transport Services Group Inc., Stratos Jet Charters Inc., Cargo Air Chartering, Cathay Pacific Airways Ltd., Air Partner, and Fliteline.
The freight chartered air transport market includes revenues earned by entities by ensuring that their cargo has exclusive use of the entire sailing or flight, with guaranteed security and departure/arrival times. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Freight chartered air transport is a mode of transportation that uses aircraft, such as planes and helicopters, to provide chartered (non-scheduled) air transportation services for passengers and/or cargo for a fee per mile or hour for the charter of the aircraft, which includes renting an aircraft for a tour.
North America was the largest region in the freight chartered air transport services market in 2022. Asia Pacific was the second largest region in the freight chartered air transport services market. The regions covered in the freight chartered air transport services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main cargo types in the freight chartered air transport services market are time-critical cargo, heavy and outside cargo, dangerous cargo, animal transportation, and others. Dangerous cargo involves the shipment of substances that are at a risk to health, property, safety, or the environment. The market is segmented by application into private use and commercial use and by end-use into wealthy individuals, sports teams, and large corporations.
The growing need for urgent shipment of dangerous goods and hazardous materials is expected to drive the freight chartered air transport market. Sensitive freight with dangerous goods includes explosives, highly flammable gases, radioactive materials, and military items. Toxic and infectious substances require a special skill set and expert knowledge for shipping the goods. These goods are transported through chartered cargo to avoid explosions and contamination.
For instance, the Federal Aviation Administration (FAA) of the USA granted the authority for chartered cargo services along with training for all employees, in the form of a part-135 certificate, to operate on demand under an FAA-approved hazardous materials program. Urgent shipment of dangerous goods and hazardous materials is therefore expected to drive market growth.
High prices associated with charter cargo flight services are expected to hamper the freight chartered air transport market. The cost of the cargo charter depends on many factors, such as origin and destination points, the type of commodity shipped, dimensions, and weights. For instance, the freight and logistics prices are above $500,000 for an Asia-Europe A330 charter and above $21 per kilogramme on transatlantic routes for some urgent shipments.
Additionally, the cost of a B777 or B747 carrying 100 tonnes of cargo was $470,000 earlier, which is now costing between $850,000 and $1 million for a round trip with e-commerce goods and general cargo from Europe to China. Therefore, the skyrocketing cost of freight charter services is expected to hamper the market.
The countries covered in the freight chartered air transport market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Key Topics Covered:
1. Executive Summary
2. Freight Chartered Air Transport Market Characteristics
3. Freight Chartered Air Transport Market Trends And Strategies
4. Freight Chartered Air Transpor Market – Macro Economic Scenario
4.1 COVID-19 Impact On Freight Chartered Air Transpor Market
4.2 Ukraine-Russia War Impact On Freight Chartered Air Transpor Market
4.3 Impact Of High Inflation On Freight Chartered Air Transpor Market
5. Freight Chartered Air Transport Market Size And Growth
5.1. Global Freight Chartered Air Transport Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Freight Chartered Air Transport Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Freight Chartered Air Transport Market Segmentation
6.1. Global Freight Chartered Air Transport Market, Segmentation By Cargo Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Time Critical Cargo
Heavy And Outside Cargo
Dangerous Cargo
Animal Transportation
Other Cargo Types
6.2. Global Freight Chartered Air Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Private Use
Commercial Use
6.3. Global Freight Chartered Air Transport Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Wealthy Individuals
Sports Teams
Large Corporations
7. Freight Chartered Air Transport Market Regional And Country Analysis
7.1. Global Freight Chartered Air Transport Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Freight Chartered Air Transport Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/dsoo1k-chartered?w=5
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