Air Freight Market, By Service (Forwarding, Airlines, Mail, and Other Services), By Destination (Domestic and International), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Air Freight Market was valued at US$ 317.6 billion in 2024 and is projected to grow at a CAGR of 5.70% to reach US$ 525.0 billion by 2034.

Air freight is the medium of Shipping products by an air carrier, such as an aircraft. International cargo transportation is facilitated by air freight, which is also the quickest method of cargo transportation. Due to improved internal storage capacity and a rise in air freight transportation volume, companies are now able to create a greater range of goods with less inventory on hand. When shipping products by air, one needs a Master Airway Bill (MAWB), which is proof of the freight contract and must be authorized by the airline or agency. Consolidating this approach into consoles with other shipments can make it very cost-effective. Even though there are savings of scale associated with this, it's crucial to consider how long it may take to combine shipments.

Growing aviation infrastructure at a rapid pace is the main element propelling the worldwide market's expansion. Several regional airports are being created, and those that already exist are growing, to enhance the capacity for processing cargo. Furthermore, it is anticipated that the growing number of passenger aircraft being converted into cargo aircraft would further fuel the target market's expansion. In addition, a significant portion of e-commerce and courier services businesses favor air freight over ground or rail transit, which increases demand for air freight services internationally.

Nonetheless, there are still several obstacles facing air freight, including declining worldwide trade volumes, a reduction in consumer confidence, and an overall drop in worldwide economic growth. However, several reasons, including a high demand for manufacturing exports and the growing penetration of new technologies in the value chain, are expected to fuel growth in the worldwide market. Furthermore, profitable growth prospects for the worldwide market are anticipated as a result of the e-commerce sector's overall growth rate.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Air Freight Market Key Drivers:

Need for faster delivery of shipments

• When it comes to delivery times, freight airplanes outperform all other modes of transportation. Air travel may deliver products in hours, but other forms of transportation, such as freight, rail, or road delivery, may take days or weeks. Since customs clearance is swift and there are more small items to discharge than cargo ships, local storage is not essential.
• Because it requires the least amount of handling and airport security standards are scrupulously adhered to, air freight is also the safest route of delivery. Theft and packaging damage are less likely. In addition, due to the short shipping duration, air freight insurance often has a cheap cost. For these reasons, air freight is a great and indispensable way to move goods.
• Additionally, because of the large profit margins associated with medications and jewelry, as well as the fragility of some electrical products, air freight is the most appropriate mode of delivery. Every one of these variables influences the market for air freight services.

Air Freight Market Restrains:

High cost of air freight services

• The two most crucial variables in determining the expenses of air freight shipment are volume and weight. Air carriers usually charge based on volumetric weight or actual weight, whichever is more expensive. The sum also includes freight insurance, customs brokerage, door-to-door delivery, and accessory expenses for air cargo services.
• Furthermore, changes in the price of aviation fuel affect air freight operations. Therefore, it is projected that the high cost of air freight deliveries will limit the global market's development throughout the projection period.

Air Freight Market is segmented based on Service, Destination, and region:

Service Insights:

• Forwarding:

Freight forwarding helps in arranging things for others. They are often referred to as intermediaries or middlemen. A freight forwarder functions as a sort of intermediary between the shipper and the carrier. Shippers remunerate freight forwarders for organizing all the logistics involved in shipping their products.

• Airlines:

Airlines are the backbone of the air freight sector, using a fleet of both passenger and freighter aircraft to move goods over great distances. To accommodate high-demand lanes or specialty cargo categories, major airlines and specialized cargo carriers strategically deploy freighter aircraft on particular routes. Global cargo transportation is made efficient by this network architecture.

• Mail:

Physical mail items such as letters, papers, and parcels are sent by air both domestically and abroad by postal services. They provide many delivery choices, including registered or fast mail, as well as tracking possibilities.

• Other Services:

This category includes a variety of specialty products and services that meet certain cargo needs in the air freight industry. For valuable goods such as electronics, precious metals, or artwork, specific and safe transit options are provided. For optimal visibility and protection, these services frequently include real-time tracking, customized packaging, and increased security measures.

Among the segments mentioned above the one that dominated the market is the Forwarding segment as forwarders are experts offering various solutions regarding complexities during air freight, hence making them a valuable resource for variant businesses.

Destination Insights:

• Domestic:

The transportation of commodities within a nation is referred to as domestic air freight. This procedure requires conducting all economic transactions inside a nation. Since both the sender and the recipient party are nationals of the same nation, the shipping agreement is based on national customs, laws, and practices.

• International:

The international air freight segment involves the transportation of goods across borders, playing a vital role in global trade. International shipping is a complex process of moving freight over borders, accompanied by many rules and regulations. As international shipments occur between two countries, it has to follow different rules since every country has specific regulations and laws.

Among the segments mentioned above the one that dominated the market is the international segment due to the growing utilization of international air freight for the purpose of facilitating product transportation, preserving product freshness, and guaranteeing safe use. 

Regional Insights:

Air Freight Market Regional Insights

• North America market is estimated to witness a significantly high revenue share over the forecast period, because of the established air freight technology, strong infrastructure, growing demand for import and export activities, and rise in the e-commerce industry. 
• Asia Pacific market is estimated to witness the largest revenue share because of the increasing growth of the e-commerce sector, increasing growth of air freight demands, demand for export and import activities in the automotive and electronics market, and the need for shipment of delicate items.
• Europe market finds lucrative market opportunities because of the increasing trade activities, high capacity for freight management, increasing infrastructure growth, and the need for seamless air freight service.
• Latin America market is increasing gradually as a result of the growing automotive and construction sector, expanding need for fast and efficient transport of goods, and rise in export and import activities.
• Middle East & Africa market is an emerging markets as a result of rising import and export businesses, growing awareness about the need for safe shipment of goods, rising automobile industry and rise in e-commerce sector.

Air Freight Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Air Freight Market report based on Service, Destination and region:

Air Freight Market, By Service:

• Forwarding
• Airlines
• Mail
• Other Services

Air Freight Market, By Destination:

• Domestic
• International

Air Freight Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Air Freight Market includes Federal Express, Cathay Pacific Airways Limited, United Parcel Service Inc., Cargolux Airlines International SA, The Emirates Group, China Airlines Ltd, Qatar Airways Company QCSC, Japan Airlines Co. Ltd., Deutsche Lufthansa AG, and All Nippon Airways Co. Ltd (ANA).

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

• In January 2024, Turkish Cargo, a dependable partner in the worldwide air freight market, introduced three new pharmaceutical products. With the debut of its three new products, TK Pharma Standard, TK Pharma Extra, and TK Pharma Advanced, the dynamic brand promises to exceed client expectations by creating adaptable solutions for pharmaceutical and medical consignments across a range of categories. Temperature-sensitive goods may be delivered by industry regulations thanks to TK Pharma Standard. Thanks to TK Pharma Standard, shipments are transported with the benefit of professional handling, loading priority, and temperature-controlled storage through the TK Pharma Network under Turkish Cargo's guarantee.

• Federal Express*

• Company Overview
• Chipset Portfolio
• Key Highlights
• Financial Performance
• Business Strategies

• Cathay Pacific Airways Limited
• United Parcel Service, Inc.
• Cargolux Airlines International SA
• The Emirates Group
• China Airlines Ltd.
• Qatar Airways Company QCSC
• Japan Airlines Co. Ltd.
• Deutsche Lufthansa AG
• All Nippon Airways Co. Ltd (ANA)

 "*" marked represents similar segmentation in other categories in the respective section.

1. Research Objective and Assumption
   • Preface
   • Research Objectives
   • Assumptions
   • Abbreviations
2. Market Preview
   • Report Description
     • Market Definition and Scope
   • Executive Summary
     • Market Snippet, By Service
     • Market Snippet, By Destination
     • Market Snippet, By Region
   • Opportunity Map Analysis
3. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
     • Market Trends
   • DR Impact Analysis
   • PEST Analysis
   • Porter’s Five Forces Analysis
   • Opportunity Orbit
   • Market Investment Feasibility Index
   • Macroeconomic Factor Analysis
4. Market Segmentation, By Service, 2024 – 2034, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2024 – 2034
     • Y-o-Y Growth Analysis (%), 2024 – 2034
     • Segment Trends
   • Forwarding
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 – 2034
   • Airlines
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 – 2034
   • Mail
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 – 2034
   • Other Services
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 – 2034
5. Market Segmentation, By Destination, 2024 – 2034, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2024 – 2034
     • Y-o-Y Growth Analysis (%), 2024 – 2034
     • Segment Trends
   • Domestic
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 – 2034
   • International
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2024 – 2034
6. Global Market, By Region, 2024 – 2034, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2024 – 2034
     • Y-o-Y Growth Analysis (%), 2024 – 2034
     • Regional Trends
   • North America
     • Market Size and Forecast (US$ Mn), By Service, 2024 – 2034
     • Market Size and Forecast (US$ Mn), By Destination, 2024 – 2034
     • Market Size and Forecast (US$ Mn), By Country, 2024 – 2034
       • U.S.
       • Canada
   • Europe
     • Market Size and Forecast (US$ Mn), By Service, 2024 – 2034
     • Market Size and Forecast (US$ Mn), By Destination, 2024 – 2034
     • Market Size and Forecast (US$ Mn), By Country, 2024 – 2034
       • Germany
       • UK
       • France
       • Russia
       • Italy
       • Rest of Europe
   • Asia Pacific
     • Market Size and Forecast (US$ Mn), By Service, 2024 – 2034
     • Market Size and Forecast (US$ Mn), By Destination, 2024 – 2034
     • Market Size and Forecast (US$ Mn), By Country, 2024 – 2034
       • China
       • India
       • Japan
       • South Korea
       • Rest of Asia Pacific
   • Latin America
     • Market Size and Forecast (US$ Mn), By Service, 2024 – 2034
     • Market Size and Forecast (US$ Mn), By Destination, 2024 – 2034
     • Market Size and Forecast (US$ Mn), By Country, 2024 – 2034
       • Brazil
       • Mexico
       • Rest of Latin America
   • Middle East & Africa
     • Market Size and Forecast (US$ Mn), By Service, 2024 – 2034
     • Market Size and Forecast (US$ Mn), By Destination, 2024 – 2034
     • Market Size and Forecast (US$ Mn), By Country, 2024 – 2034
       • GCC
       • Israel
       • South Africa
       • Rest of Middle East
7. Competitive Landscape
   • Heat Map Analysis
   • Market Presence and Specificity Analysis
8. Company Profiles
   •  
     • FedEx (Federal Express) Corporation
       • Company Overview
       • Service Portfolio
       • Key Highlights
       • Financial Overview
     • Cathay Pacific Airways Limited
       • Company Overview
       • Service Portfolio
       • Key Highlights
       • Financial Overview
     • United Parcel Service, Inc.
       • Company Overview
       • Service Portfolio
       • Key Highlights
       • Financial Overview
     • Cargolux Airlines International SA
       • Company Overview
       • Service Portfolio
       • Key Highlights
       • Financial Overview
     • The Emirates Group
       • Company Overview
       • Service Portfolio
       • Key Highlights
       • Financial Overview
     • China Airlines Ltd.
       • Company Overview
       • Service Portfolio
       • Key Highlights
       • Financial Overview
     • Qatar Airways Company QCSC
       • Company Overview
       • Service Portfolio
       • Key Highlights
       • Financial Overview
     • Japan Airlines Co. Ltd.
       • Company Overview
       • Service Portfolio
       • Key Highlights
       • Financial Overview
9. Section
   • Research Methodology
   • About Us
   • Contact