PUBLISHER: The Business Research Company | PRODUCT CODE: 1465648
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465648
Air cargo and freight logistics involve the transportation of goods, merchandise, or commodities via air transport networks, with the aim of ensuring efficient, timely, and safe movement of goods globally.
The primary types of air cargo and freight logistics include domestic logistics and international logistics. Domestic logistics pertain to the planning, implementation, and control of the flow and storage of goods within a single country. They encompass express and regular services for various applications such as food, industrial materials, equipment, and more. These logistics services cater to a range of end-use industries including retail, manufacturing, healthcare, automotive, and agriculture.
The air cargo and freight logistics market research report is one of a series of new reports from The Business Research Company that provides air cargo and freight logistics market statistics, including air cargo and freight logistics industry global market size, regional shares, competitors with an air cargo and freight logistics market share, detailed air cargo and freight logistics market segments, market trends and opportunities, and any further data you may need to thrive in the air cargo and freight logistics industry. This air cargo and freight logistics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The air cargo and freight logistics market size has grown strongly in recent years. It will grow from $208.79 billion in 2023 to $225.06 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth observed during the historical period can be attributed to several factors, including the increasing number of internet users and the wide range of products available online, the rise in global trade which has spurred the growth of the market, increased globalization due to the rapid growth of some developing countries, the rising demand for air cargo transportation driven by increasing global trade, and the expansion of the e-commerce industry.
The air cargo and freight logistics market size is expected to see strong growth in the next few years. It will grow to $289.24 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth during the forecast period is driven by rising consumer appetite for perishable goods, the burgeoning e-commerce sector driving market demand, increasing requirements for pharmaceuticals, chemicals, and high-value items, as well as the adoption of just-in-time production methods. Key trends expected in the forecast period encompass the transformative impact of automation and digitization on logistics, the broadening of market opportunities, advancements in blockchain technology, sustainability efforts, and the emergence of urban air mobility (UAM).
The upward trajectory of e-commerce is poised to drive the growth of both the air cargo and freight logistics markets in the foreseeable future. E-commerce encompasses the online buying and selling of goods and services, facilitated primarily through electronic networks such as the Internet. The global proliferation of internet access has significantly expanded the potential customer base for online retailers, enabling them to reach consumers even in remote areas. In this context, air cargo and freight logistics play a pivotal role in facilitating swift and dependable transportation of goods, allowing e-commerce businesses to fulfill the demands of online consumers with speed and precision. For instance, data from the International Trade Administration suggests a substantial annual average growth rate of 12.6% in e-commerce revenues in the UK by 2025. Furthermore, as of January 2021, consumer e-commerce accounted for a significant portion of the UK's overall retail industry, with projected e-commerce revenue expected to reach $285.60 billion by 2025. Hence, the surge in e-commerce and online retail sales emerges as a key driver propelling the growth trajectory of the air cargo and freight logistics markets.
Major players in the air cargo and freight logistics market are actively forging strategic partnerships to bolster their competitiveness, broaden their market reach, and enhance overall performance in the industry. Collaborations enable companies to expand their network and penetrate new markets by leveraging each other's infrastructure, resources, and expertise. For instance, in May 2023, Speedcargo Technologies Pte Ltd., in collaboration with Gudel Corporate, introduced the Air Cargo Automation System, touted as the world's first fully-automated robotic freight handling solution for air freight. This innovative system aims to revolutionize three critical ground handling activities by seamlessly integrating Speedcargo's advanced computer vision, optimization, and intelligent robotics software with Gudel's state-of-the-art gantry robots and extensive experience in intralogistics automation. By addressing key challenges such as labor constraints, space limitations, and the imperative for consistent, safe, and high-quality handling, this automation system stands to elevate the efficiency and efficacy of air cargo operations.
In February 2024, Gebruder Weiss GmbH, a prominent transport and logistics firm headquartered in Austria, finalized the acquisition of Cargo-Link International Shipping, an American company, for an undisclosed sum. This acquisition marks a strategic move for Gebruder Weiss, aiming to offer tailored weekly LCL (less-than-container load) services originating from ports in North and South China, with destinations specifically targeting Salt Lake City. Cargo-Link International Shipping, based in the US, specializes in a range of services including airfreight forwarding, ocean freight forwarding, customs house brokerage, logistics, distribution, and domestic freight, thereby complementing Gebruder Weiss's strategic objectives in expanding its service offerings.
Major companies operating in the air cargo and freight logistics market are Deutsche Post DHL Group, United Parcel Service, FedEx Corporation, Deutsche Lufthansa AG, DSV AS, DB Schenker, Expeditors International of Washington, Kuehne + Nagel International AG, Singapore Airlines Limited, Korean Air Co., Air China Limited, Cathay Pacific Airways Limited, Bollore Logistics, China Airlines Limited, EgyptAir Cargo, Canada Air Cargo & Freight Logistics Inc., Kalitta Air LLC, CEVA Logistics, Titan Sea & Air Services, Horizon International Cargo Inc., Lavin Star Trading LLC, Rosan Sea Air Services, Velocity Freight, Air Cargo & Freight Logistics India Pvt Ltd., ENS Logistics India Pvt Ltd., Qatar Airways Group, SNCF Logistics, American Airlines Cargo
North America was the largest region in the air cargo and freight logistics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the air cargo and freight logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the air cargo and freight logistics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The air cargo and freight logistics market includes revenues earned by entities by providing services such as express delivery services, charter services, temperature-controlled logistics, and freight forwarding. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Air Cargo And Freight Logistics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on air cargo and freight logistics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for air cargo and freight logistics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The air cargo and freight logistics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.