About Air Cargo
Air cargo is defined as any goods or commodities that being carried in an aircraft. Air cargo includes air freight as well as airmail. For air cargo, various types of aircrafts used are passenger aircraft, cargo aircraft, as well as combi aircraft. With primary macroeconomic trends, strong growth in e-commerce is likely to play a progressively important role in air cargo market. Usually, goods transported by air, like time-sensitive perishables and high value commodities comprising computers, consumer electronics, & pharmaceuticals, are some of the fastest-growing trade flows around the world.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.9% |
In January 2019, Qatar Airways Company QCSC has announced that it has started freighter services to Guadalajara, Mexico, escalating its network in the Americas region. This new destination is being attended by the airline’s Boeing 777 freighter. Guadalajara is added as a new destination on the cargo carrier’s high demand transpacific freighter route, beginning 6 January 2019. Two times in a week freighter departs directly from Macau to Los Angeles in North America & joins onward to Mexico City incoming in Guadalajara, before departing for Doha via Liège. Key exports on the flights involve perishables & general cargo, though general cargo will form the majority of imports. Analyst at AMA Research estimates that Chinese, German, Japanese, and United States Manufacturers will contribute the maximum growth to Global Air Cargo market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
China Airlines (China), FedEx Corporation (United States), United Parcel Service of America, Inc. (United States), Cathay Pacific Airways Limited (China), DHL Aviation (Germany), Korean Air Lines Co., Ltd. (South Korea), Cargolux (Luxembourg), Lufthansa Cargo AG (Germany), Singapore Airlines Cargo (Singapore) and The Emirates Group (United Arab Emirates) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Expeditors International of Washington, Inc. (United States), Kuehne + Nagel International AG (Switzerland), CEVA Logistics (Switzerland), Japan Airlines Co., Ltd. (Japan) and Qatar Airways Company QCSC (Qatar).
Segmentation Overview
AMA Research has segmented the market of Global Air Cargo market by Type (Air Freight and Air Mail) and Region.
On the basis of Type, Air Freight are dominating the market in the year 2023On the basis of geography, the market of Air Cargo has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Pharmaceuticals and Healthcare will boost the Air Cargo market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Aircraft Type, the sub-segment i.e. Passenger aircraft will boost the Air Cargo market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Destination Type, the sub-segment i.e. Domestic will boost the Air Cargo market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service Type, the sub-segment i.e. Express will boost the Air Cargo market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand for Temperature Controlled Air Freight
Market Growth Drivers:
Advent of E-Commerce Forces Demand for Air Freight Services, Speedy Development of Businesses around the World and Growing Demand from Various Industries
Challenges:
Recurrent Political and Financial Market Instability in Some Emerging Markets
Restraints:
Fuel Prices Volatility
Opportunities:
Growing Healthcare Industry and Faster-Growing Economies Providing Potential Opportunities
Market Leaders and their expansionary development strategies
In August 2023, MOVIN, a logistics brand launched as a joint venture between UPS and InterGlobe Enterprises, commences operations at its new air cargo hub in New Delhi, enabling seamless connectivity for faster deliveries. The strategic location of the hub near Terminal 2 of the Air Cargo Logistics Complex Phase 3 ensures quicker movement of cargo, which will greatly benefit B2B customers across 49 express destinations. This express hub is spread across 9,000 square feet and is well-equipped to handle and process close to 7,000 packages per day to begin with, which will help in meeting a wide array of logistic requirements.
In March2023, DP World and Grupo Puntacana have announced a joint effort to develop a new air cargo logistics hub in Punta Cana, Dominican Republic, boosting the country's position as the largest trade and logistics centre in the Caribbean.
Key Target Audience
Air Cargo Service Providers, Commercial Airlines, Transportation and Logistics Industry, Pharmaceuticals and Healthcare Industry, Consumer Electronics Industry, Retail Industry, Food and Beverages Industry, Government and Research Organizations, Industry Associations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.