The growth of the global air cargo market can be attributed to the growing e-commerce industry and increasing adoption of air cargo services by the pharmaceutical and healthcare industry. Furthermore, the rising adoption of artificial intelligence (AI) and blockchain technology in supply chain management to facilitate operations is also propelling the growth of the air cargo market.
Factors such as increasing global imports and exports and benefits offered by air cargo such as convenience, efficiency, and timely delivery are driving the market growth. However, stringent government regulations regarding air cargo services are expected to hinder the growth of the market.
The global air cargo market has been segmented based on type, service, destination, end user, and region.
On the basis of type, the global air cargo market has been divided into air freight and air mail. The air freight segment is expected to account for a larger share of the market during the forecast period and register a higher CAGR from 2019 to 2025. Various initaitives undertaken by agencies such as IATA for making the air freight industry paperless are expected to drive the segment growth during the forecast period. For example, E-Freight is an industry-wide initiative undertaken by the IATA to build an end-to-end paperless transportation process for air cargo by developing proper regulatory framework.
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By end user, the market has been divided into retail, food & beverages, pharmaceutical and healthcare, consumer electronics, automotive, and others. The pharmaceutical and healthcare segment dominated the market in 2018 and is anticiapted to register the highest CAGR during the forecast period. Benefits offered by air cargo service providers such as specialized packaging and coolers for storage are propelling the segment growth.
Based on service, the market has been classified as express and regular. The express service segment dominated the market in 2018 and is expected to register a higher CAGR during the forecast period. Growing number of e-commerce companies and rising demand for same-day delivery services by customers are boosting the segment growth.
In terms of region, the global air cargo market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific accounted for a dominant share of the market in 2018. However, the market in North America is projected to expand at the highest CAGR during the forecast period. Presence of prominent air cargo service providers such as United Parcel Service of America, Inc. and FedEx are driving the market growth in the region.
Key Players
The key players in the global air cargo market are FedEx (US), United Parcel Service of America, Inc. (US), DHL International GmbH (Germany), Cathay Pacific Airways Limited (Hong Kong), China Eastern Airlines Corporation Limited (China), Korean Air (South Korea), Cargolux (Luxembourg), Singapore Airlines (Singapore), The Emirates Group (UAE), Japan Airlines (Japan), Deutsche Lufthansa AG (Germany), All Nippon Airways Co., Ltd (Japan), International Consolidated Airlines Group, SA. (UK), Etihad Airways (UAE), and Qatar Airways (Qatar).
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February 14, 2019: In 2018, the global Air Cargo market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of during 2019-2025.This report focuses on the global Air Cargo status, future forecast, growth opportunity, key market and key players.
The study objectives are to present the Air Cargo development in United States, Europe and China.The key players covered in this studyChina Airlines CargoFedEx ExpressUPS AirlinesDownload sample Copy of This Report at: https://www.radiantinsights.com/research/global-air-cargo-market-size-status-and-forecast-2019-2025/request-sample Cathay Pacific CargoDHL AviationKorean Air CaroCargoluxLufthansa CargoSingapore Airlines CargoEmirates SkyCargoAir Freight and Air MailMarket segment by Type, the product can be split intoAir MailAir FreightClick For Report Details @ https://www.radiantinsights.com/research/global-air-cargo-market-size-status-and-forecast-2019-2025 Market segment by Application, split intoRetailFood and BeveragesPharmaceuticals and HealthcareConsumer ElectronicsThird Party LogisticsMarket segment by Regions/Countries, this report coversUnited StatesEuropeChinaJapanSoutheast AsiaIndiaCentral & South AmericaThe study objectives of this report are:To analyze global Air Cargo status, future forecast, growth opportunity, key market and key players.To present the Air Cargo development in United States, Europe and China.To strategically profile the key players and comprehensively analyze their development plan and strategies.To define, describe and forecast the market by product type, market and key regions.In this study, the years considered to estimate the market size of Air Cargo are as follows:History Year: 2014-2018Base Year: 2018Estimated Year: 2019Forecast Year 2019 to 2025About Radiant InsightsRadiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process.
We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets.
In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.For More Information, Visit Radiant Insights Contact:Michelle ThorasCorporate Sales Specialist, USARadiant Insights, IncPhone: 1-415-349-0054Toll Free: 1-888-202-9519Email: [email protected] Blog URL: http://ictmarketforecasts.wordpress.com
The Business Research Company published its Air Cargo Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global Air Cargo market.
The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.The report covers the Air Cargo market’s segments- 1) By Type: Air Mail; Air Freight2) By Destination: Domestic; International3) By End-User: Consumer Electronics; Retail; Third Party Logistics; Food And Beverages; Pharmaceuticals And Healthcare; Others4) By Service: Express; Regular.View Complete Report: https://www.thebusinessresearchcompany.com/report/air-cargo-services-global-market-report-2020-30-covid-19-impact-and-recoveryAir Cargo Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.The global air cargo services market is expected to grow from $65.4 billion in 2019 to $67.4 billion in 2020 at a compound annual growth rate (CAGR) of 3.1%.
The market is then expected to recover and grow at a CAGR of 14% from 2021 and reach $95.5 billion in 2023.Digitization of systems has gained popularity in the cargo transportation markets by making the documentation process easier and providing integration and transparency.Few Points From Table Of Content1.
Market Background: Air Transportation Market22.
