Report Overview

The global air freight market reached a volume of nearly 97.92 MMT in 2023 due to the surge in e-commerce, which has dramatically increased demand for fast and reliable shipping options. This has compelled businesses to focus on air freight for time-sensitive deliveries. The rise of same-day and next-day delivery services further intensifies this demand, particularly for high-value goods. As a result, the market is expected to grow at a CAGR of 12.00% during the forecast period of 2024-2032 to attain a volume of 271.54 MMT by 2032. The ongoing globalisation and expansion of international trade are also contributing to the need for efficient logistics solutions, such as air freight for cross-border transactions.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

  • According to the International Air Transport Association (IATA), the air cargo sector has experienced a remarkable surge in demand, with an impressive 18.4% year-on-year growth recorded in January 2024. This significant increase reflects the ongoing recovery and expansion of global trade, driven by factors such as the rise in e-commerce and the need for speedy delivery of goods. The robust growth in air cargo demand has led businesses to rely on air freight for its efficiency and reliability in transporting high-value products, leading to air freight market expansion.
  • As per industry reports of 2023, the North America to Asia route accounted for 26.9% of all air cargo movements, highlighting its critical role in global logistics. This route serves as a vital corridor for trade between two of the world's largest economies, facilitating the swift movement of goods ranging from electronics to perishables.
  • Furthermore, Hong Kong International Airport processed an impressive 4,199,196 metric tons of freight in 2023, solidifying its position as one of the world's busiest air cargo hubs. The airport's extensive infrastructure and connectivity enable it to handle diverse cargo types efficiently, catering to the increasing demand from global markets. This substantial volume processed at Hong Kong International Airport exemplifies the airport's pivotal role in facilitating international trade and supporting economic growth in the region.

Air Freight Market Share

Market Analysis by Destination

Domestic air freight comprises the transportation of goods within a nation. As per air freight industry analysis, the domestic destination will gain traction during the forecast period. The strong growth in this region might be attributed to the increased demand for efficient and reliable domestic delivery of goods. Domestic e-commerce growth, retail industry expansion, and manufacturing sector development are among the causes driving this rise and providing new air freight market opportunities.

Domestic air freight is gaining popularity as firms try to meet customers' increased demand for rapid delivery and next-day services. Same-day and next-day delivery are driving development in the domestic air freight industry; in Q2 2024, US e-commerce sales hit $291.6 billion, up 1.3% from Q1. In response to the demand for expedited delivery, businesses use air freight to boost logistical efficiency and satisfy customer expectations for prompt service. This shift is causing the air freight industry to grow as businesses adapt to the requirement for high-speed delivery. Air freight is an essential component of modern supply chains because efficient logistics reduce inventory costs and increase customer satisfaction.

Market Analysis by Service

The express market is expected to grow at the highest CAGR due to increasing demand from consumers for timely delivery and real-time tracking. Due to the growing e-commerce market, businesses are moving toward offering reliable and speedy delivery services that meet customer expectations of the same-day or next-day shipping facility, accelerating the air freight market dynamics and trends This change propels the express market's expansion as businesses look to boost their competitiveness by providing convenience and speed. Furthermore, the rise of express services is further supported by enhanced logistical networks and technical advancements, which makes them an essential part of contemporary supply chains.

Market Analysis by End Use

The commercial segment is the leading end-use category in the global air freight market. The exponential growth of e-commerce has significantly contributed to the demand for air freight services. Global e-commerce giants like Amazon, Alibaba, and Shopify rely heavily on air freight to meet the increasing demand for fast and reliable delivery of products across international markets. Industries such as electronics, automotive, fashion, and pharmaceuticals rely heavily on air freight for the transportation of raw materials and finished goods, particularly for international shipments. The pharmaceutical industry frequently uses air freight to transport temperature-sensitive products like vaccines and medicines, which require specialized handling and timely delivery.

Air Freight Market Report Snapshots

Air Freight Market Size

Air Freight Market Growth

Air Freight Market Trends

Air Freight Market Share

Air Freight Companies

Air Freight Market Regional Analysis

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the market reached an approximate value of 97.92 MMT.

The air freight market is assessed to grow at a CAGR of 12.00% between 2024 and 2032.

The market is being driven by the increased demand for high-technology products, rising consumer disposable income, robust growth in its automobiles industry, rise in construction activities, and rising investments.

Key trends aiding the market expansion include the high demand for pharmaceuticals and medical equipment and the growing need for oil and mining equipment.

Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Based on destination, the market is divided into domestic and international.

The leading end-use sectors in the industry are pharmaceutical, personal care, chemicals, automobile, and fashion, among others.

Key players in the market are Deutsche Post AG, DSV A/S, Kuehne + Nagel International AG, FedEx Corporation, Schenker AG, United Parcel Service of America, Inc., The Emirates Group, Cargolux International Airlines S.A., Nippon Express Co., Ltd., and Hellmann Worldwide Logistics SE & Co. KG, among others.

The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around 271.54 MMT by 2032.

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63 Fiona Drive, Tamworth, NSW

+61-448-061-727

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63-287-899-028, +63-967-048-3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84-865-399-124

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