Dublin, Oct. 16, 2024 (GLOBE NEWSWIRE) -- The "Air Freight Services - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Air Freight Services was estimated at US$223.1 Billion in 2023 and is projected to reach US$269.1 Billion by 2030, growing at a CAGR of 2.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Air freight services have long been a cornerstone of global trade, offering fast and reliable transportation of goods across continents. As global supply chains become more complex and e-commerce continues to expand, the need for expedited shipping has driven increased demand for air freight. Key industries such as pharmaceuticals, electronics, and high-value goods rely heavily on air freight for the rapid movement of time-sensitive products
The growth in the air freight services market is driven by several factors, including the rapid expansion of e-commerce and the increasing demand for fast, global shipping solutions. Technological advancements in tracking, automation, and cargo management have improved the efficiency and reliability of air freight operations, making it easier for companies to meet tight delivery schedules. The rise in just-in-time manufacturing and the globalization of supply chains have also created a growing need for air freight to transport critical components and high-value goods.
Additionally, the increased reliance on air freight for transporting medical supplies and pharmaceuticals, particularly during the COVID-19 pandemic, has underscored the importance of air freight services in supporting global health and safety initiatives. Emerging markets in Asia-Pacific and Latin America, where trade and logistics infrastructure are expanding, offer significant growth opportunities for air freight providers.
What Are the Technological Trends Shaping Air Freight Services?
Technological advancements are transforming the air freight industry, making it more efficient, reliable, and responsive to the needs of modern commerce. Automation and digitization have significantly improved cargo tracking and logistics management, allowing for real-time updates and greater transparency throughout the shipping process. The use of blockchain technology is also gaining traction, providing enhanced security and traceability for high-value shipments.
Additionally, innovations in aircraft design, such as the development of more fuel-efficient cargo planes and the use of drones for short-distance deliveries, are helping to reduce operational costs and improve service reliability. These technological advancements are not only enhancing the performance of air freight services but are also helping companies meet growing environmental regulations aimed at reducing the carbon footprint of air transportation.
How Are Changing Consumer and Business Demands Impacting Air Freight Services?
Consumer and business demands are shifting the air freight market towards faster, more flexible services. The rise of e-commerce has led to an increase in smaller, more frequent shipments, requiring air freight companies to adapt their operations to accommodate high-volume, low-weight parcels. As businesses focus on meeting the expectations of same day and next day delivery, air freight has become a critical component of last-mile logistics for international shipments.
On the business side, just-in-time manufacturing and the globalization of supply chains have intensified the need for fast and reliable air transport, particularly for industries such as electronics, automotive, and pharmaceuticals. Companies are also prioritizing air freight for high-value goods that require secure and controlled environments, further boosting demand.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Freight Service segment, which is expected to reach US$103.6 Billion by 2030 with a CAGR of a 2.8%. The Express Service segment is also set to grow at 3.5% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $60.8 Billion in 2023, and China, forecasted to grow at an impressive 5.3% CAGR to reach $54.0 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as A.P. Moller-Maersk A/S, Cargolux Airlines International S.A., CEVA Logistics, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 368 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $223.1 Billion |
| Forecasted Market Value (USD) by 2030 | $269.1 Billion |
| Compound Annual Growth Rate | 2.7% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 and a Looming Global Recession
- Air Freight Services - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Increasing Demand for Fast and Efficient Transportation of Goods
- Growth in Global E-commerce Boosting Demand for Air Cargo Services
- Expansion of Perishable Goods Transportation, Including Food and Pharmaceuticals
- Rising Adoption of Digital Solutions for Freight Tracking and Monitoring
- Impact of 5G Technology on Improving Air Cargo Communication Systems
- Increasing Role of Air Freight in the Supply Chain for High-Value Goods
- Growth in Express Delivery Services Driving Demand for Air Freight
- Development of Fuel-Efficient Aircraft to Reduce Operational Costs and Emissions
- Impact of Global Trade Agreements and Tariffs on Air Freight Volumes
- Rising Importance of Air Freight in the Post-COVID-19 Global Supply Chain
FOCUS ON SELECT PLAYERS (Total 38 Featured)
- A.P. Moller-Maersk A/S
- Cargolux Airlines International S.A.
- CEVA Logistics
- China Cargo Airlines
- DSV A/S
- Emirates SkyCargo
- FedEx Corporation
- Japan Airlines Co., Ltd.
- Kintetsu World Express, Inc.
- LATAM Cargo
For more information about this report visit https://www.researchandmarkets.com/r/cp3cm0
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