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Report Overview
The global air freight market reached a volume of nearly 97.92 million metric tons in 2023. The market is expected to grow at a CAGR of 12% during the forecast period of 2024-2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- According to the International Air Transport Association (IATA), there has been a significant increase in air cargo demand, with a remarkable 18.4% year-on-year growth in January.
- As per industry reports, the North America to Asia route moved 26.9% of all air cargo during 2023.
- In 2023, Hong Kong International Airport processed an impressive 4,199,196 metric tons of freight.
Air Freight Market Report Snapshots
*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
The size of the world market for air freight reached over 97.92 million metric tons in 2023.
Projected market growth between 2024 and 2032 is 12% compound annual growth rate.
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.
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