What is Air Freight Services Market?
Air freight is another term for air cargo that is, the shipment of goods through an air carrier. When it comes to shipping express shipments around the world, air transport services are the most effective method. Air freight utilise the same airports as commercial or passenger airlines. Air freight, allows the speedy air transportation of commodities. Despite being the fastest method of international freight transportation, air freight has always had a high cost-to-weight ratio. Additionally, technological advancements such as the use of mobile applications and digital tracking systems have increased the efficiency of air freight services and are anticipated to result in faster shipment delivery than other logistics solutions are anticipated to boost the growth of the air freight market during the forecast period.
Highlights from Air Freight Services Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Bolloré Logistics (France), DB Schenker (Germany), Deutsche Post DHL Group (Germany), DSV A/S (Europe), Expeditors International of Washington, Inc. (United States), FedEx Corporation (United States), Hellmann Worldwide Logistics SE & Co. KG (Germany), Nippon Express Co., Ltd. (Japan), United Parcel Service, Inc. (United States) and Kuehne + Nagel International AG (Germany) |
Key competitors in this market adopt various technologies to enhance their service capabilities. For instance, in September 2021; Emirates SkyCargo planned to introduce new technology solutions to the market together with WiseTech Global. The new CargoWise technology enables a better user experience and makes the process of booking cargo shipments more efficient for the customer. Research Analyst at AMA predicts that Europe Players will contribute to the maximum growth of Global Air Freight Services market throughout the forecasted period.
Bolloré Logistics (France), DB Schenker (Germany), Deutsche Post DHL Group (Germany), DSV A/S (Europe), Expeditors International of Washington, Inc. (United States), FedEx Corporation (United States), Hellmann Worldwide Logistics SE & Co. KG (Germany), Nippon Express Co., Ltd. (Japan), United Parcel Service, Inc. (United States) and Kuehne + Nagel International AG (Germany) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are The Emirates Group (United Arab Emirates) and Cargolux Airlines International S.A. (Luxembourg). Air Freight Services Market Segmentation:
Scope | Sub-Segments |
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Destination | Domestic,International |
End Use Industry | Pharmaceutical,Automobile,Oil & gas,Chemical,Food & Beverage,Others |
Service | Express,Mail,Other Services |
End-Use | Private,Commercial |
On the basis of geography, the market of Air Freight Services 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Digital Transformation of Air Cargo Such As Cloud-Based Applications and Block-Chain Technology
Market Growth Drivers:
Rising Demand for Air Freight Services as a Result of Increased Globalization and International Trade and Increased Demand for Faster and More Secure Transportation of Goods
Challenges:
Air Freight Services Face Competition from Other Modes of Transportation Such As Sea and Rail
Restraints:
Rising Fuel Prices and Increased Environmental Concerns
Opportunities:
Significant Growth Rate in the E-Commerce Sector As More Clients Want Speedier Deliveries
Key Target Audience
Regulatory Bodies, Manufacturers and Distributors, End Use Industry, Potential Investors, Market Research & Consultancy Companies and Others
Market Leaders & Development Strategies
In May 2019, FedEx acquired the International Express business of Flying Cargo Group in Israel. This acquisition leads into the making the FedEx values, culture, innovation and unmatched global network accessible to Israeli customers.
In June 2022, Nippon Express Co. Ltd. Is a group company of Nippon Express Holding Inc. launched a logistics service capable of handling goods requiring very low temperatures (-200 C to -850C) for the pharmaceutical industry.
The Directorate General of Civil Aviation (DGCA) is the regulatory body in the field of Civil Aviation, focuses mostly on safety-related matters. It oversees the regulation of air transport services to, from, and within India as well as the execution of civil aviation laws, air safety standards, and airworthiness requirements. Additionally, the DGCA works with the International Civil Aviation Organisation (ICAO) to coordinate all regulatory activities.