Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
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 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.*
Looking for specific insights?
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
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.
Purchase Full Report
Datasheet
- Selected Sections, One User
- Printing Not Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Single User License
One User
- All Sections, One User
- One Print Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Five User License
Five Users
- All Sections, Five Users
- Five Prints Allowed
- Email Delivery in PDF
- Free Limited Customisation
- Post Sales Analyst Support
50% Discount on Next Update
Corporate License
Unlimited Users
- All Sections, Unlimited Users
- Unlimited Prints Allowed
- Email Delivery in PDF + Excel
- Free Limited Customisation
- Post Sales Analyst Support
- 50% Discount on Next Update
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Strategic Solutions for Informed Decision-Making
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
- Our Insights Store:
-
Industry Statistics
-
Procurement Insights
-
Consumer Insights
Our Offices
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124