NEW YORK, April 5, 2024 /PRNewswire/ — The global air freight services market size is estimated to grow by USD 53.99 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.32% during the forecast period. Air freight services involve transporting goods by aircraft between international markets. Key players include Central Airlines, freight forwarders, WebCargo, and air carriers. Goods commonly shipped include apparel, automobile components, electronics, and perishables like fruits, vegetables, and meats. Factors influencing the market include jet fuel prices, refinery capacity, freighter flights, cargo insurance, and airport infrastructure. Air freight services cater to high-speed shipments and offer door-to-door delivery through various logistics methods, including rail, road, marine, and air cargo services.
Technavio has announced its latest market research report titled Global Air Freight Services Market 2024-2028
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Air Freight Services Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 – 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.32% |
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Market growth 2024-2028 |
USD 53.99 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
4.26 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 41% |
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Key countries |
US, United Arab Emirates, China, Japan, and Germany |
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Key companies profiled |
Agility Public Warehousing Co. K.S.C.P, Air France KLM SA, AIT Worldwide Logistics Inc., Amazon.com Inc., American Global Logistics, AP Moller Maersk AS, Blue Dart Express Ltd., Bollore Logistics, C H Robinson Worldwide Inc., Cargolux Airlines International SA, Crane Worldwide Logistics, DACHSER SE, DB Schenker, Deutsche Bahn AG, Dimerco, DSV AS, Expeditors International of Washington Inc., FedEx Corp., GEODIS, JD.com Inc., PSA International Pte Ltd., United Parcel Service Inc., and Volga-Dnepr |
Segment Overview
This air freight services market report extensively covers market segmentation by Type (International, Domestic) End-user (Manufacturing, Retail, Others) Geography (APAC, North America, Europe, Middle East and Africa, South America)
Market segmentation by Type
The Air Freight Services Market plays a significant role in the logistics industry, particularly for valuable and perishable goods. Vaccines and pharmaceuticals require cool-chain systems, ensuring temperature control during transit. Robotics, automation, AI, big data, and deep learning optimize aircraft operations and route planning. Valuable goods, such as jewelry and high-end electronics, benefit from secure door-to-door and airport-to-airport services. Global supply chains, online shopping, and cross-border e-commerce drive demand for quick turnaround times. Fuel prices and shipping costs impact the air cargo industry, with fuel-efficient aircraft and alternative fuels reducing expenses. Airlines, freight forwarders, and WebCargo leverage IoT and aircraft technology to offer high-speed shipments. Central Airlines and cargo companies prioritize jet fuel efficiency and refinery capacity to meet freighter flights’ demands.
Geography Overview
The Air Freight Services Market in APAC is experiencing significant growth, driven by the surge in domestic and international e-commerce sales in countries like China, India, and Japan. Door-to-door and airport-to-airport services are in high demand, supporting global supply chains and cross-border e-commerce. Fuel prices and costs, including jet fuel and oil, impact shipping expenses. Fuel-efficient aircraft and alternative fuels are being explored to mitigate these costs. Route planning, IoT, and advanced aircraft operations optimize air cargo industry performance. Key players include airlines, freight forwarders, and platforms like WebCargo. High-value goods such as apparel, automobile components, fruits, vegetables, meats, and electronic goods are frequently transported via cargo planes. Rail, road, and marine are alternative transportation methods. Security remains a priority, with cargo planes and warehousing requiring robust measures. Air freight insurance ensures protection for valuable goods during transit.
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Air freight services have been transformed by blockchain technology, streamlining complex data transfers between OEMs and providers. This shared ledger technology improves visibility and security, benefiting sectors like automotive, perishables, rail, marine, security, aviation fuel, and logistics. Keywords: automobile components, fruits, vegetables, meats, rail, road, marine, security, cargo planes, warehousing, air freight insurance, electronic goods, air carriers, airport transfers, pickup and delivery, cargo insurance, door-to-door delivery, vaccines, cool-chain systems, robotics, automation, AI, big data, deep learning, augmented reality, valuable goods, and pharmaceuticals.
Air freight services involve transporting high-value and perishable goods via aircraft. Major costs include jet fuel surcharges, labor, handling, customs brokerage, and landing charges. Vaccines, pharmaceuticals, jewelry, and high-end electronics are common valuable goods transported using cool-chain systems and advanced technologies like robotics, automation, AI, and IoT. Air freight is expensive, with international shipping costing around USD10,000 more than sea freight for 1,000 pounds. Fuel prices, shipping costs, and fuel-efficient aircraft impact the industry, with airlines, freight forwarders, and logistics companies utilizing route planning and alternative fuels to optimize operations.
Insights on Market Drivers, trends, & Challenges, historic period(2018 – 2022) and forecast period(2024-2028)- Request a sample report!
Research Analysis
In the dynamic logistics industry, air freight services play a crucial role in the distribution of time-sensitive goods, particularly vaccines. Cool-chain systems ensure the integrity of temperature-controlled pharmaceuticals during transit. Robotics, automation, and artificial intelligence (AI) optimize aircraft operations, reducing turnaround times. Big Data and deep learning algorithms enhance predictive maintenance and route planning. Augmented and virtual reality technologies streamline cargo handling processes. The air cargo industry, including airlines, jet fuel prices, and refinery capacity, are influenced by these advancements. Freighter flights and high-speed shipments are transformed by IoT and AI-driven aircraft operations. Central Airlines, a key player, leverages these technologies to offer efficient and reliable air freight services.
Market Research Overview
The Air Freight Services market is a significant segment of the logistics industry, catering to the transportation needs of valuable and time-sensitive goods. Industries such as electronics, pharmaceuticals, and fashion rely heavily on air freight services for their supply chain operations. The market is characterized by robust competition among key players, including airliners, freight forwarders, and third-party logistics providers. The use of advanced technologies like automation and real-time tracking systems enhances the efficiency and reliability of air freight services. The cost of air freight services can be high, but the benefits of faster delivery times and reduced damage rates often outweigh the costs. The market is also influenced by factors such as fuel prices, trade policies, and geopolitical risks. The future of air freight services looks promising, with growing demand from emerging markets and the increasing adoption of e-commerce driving market growth.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Type
International
Domestic
End-user
Manufacturing
Retail
Others
Geography
APAC
North America
Europe
Middle East And Africa
South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
