Air Cargo Market Analysis – Share, Size, and Growth
Air Cargo Market Overview
The global air cargo market size will increase by over 14 million tons by 2025, growing at a CAGR of nearly 5% between 2020-2025. During this forecast period, the growth in air cargo market size will be attributed to the rise in the global e-commerce business and the rising demand from just-in-time manufacturers. Moreover, there is also a rising need for instant shipment and delivery, as retailers are increasingly preferring the option of air cargo shipment for quick deliveries and enhanced consumer satisfaction. The growth of the air cargo market will subsequently lead to an increasing procurement of cargo handling equipment.
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The augmented development of air cargo hubs is a critical factor that will further propel the growth prospects within the air cargo market over the next few years. With the rising demand for air cargo services, many vendors have been compelled to develop dedicated cargo hubs that are capable of handling the largest freighter types, have robust flight navigation systems, outstanding infrastructure, dedicated cargo, and ground handling capabilities, and lower landing, cargo handling, and warehousing costs.
Air Cargo Market Insights
- Pharmaceutical industry which needs high-value, time-sensitive, and temperature-controlled products quickly, is taking measures to build a network of certified pharmaceutical trade lanes to transport their goods through air transport to meet consistent standards and guarantee product integrity.
- The air cargo market is highly competitive where asset-based vendors like combination airlines, all-cargo airlines offering scheduled and chartered services, and integrated express carriers own and operate their equipment. Integrated express carriers currently dominate the market, but all-cargo carriers are also expected to expand their roles in the future.
- Major air cargo market vendors are also focusing on freight consolidation to reduce the cost of air freight. Cargo airlines and integrated express carriers are also offering freight forwarding and delivery services. This overcapacity in the air freight is further intensifying the competition in the air cargo market.
Air Cargo Market Trends
There are three major emerging trends expected to gain traction in the air cargo market by 2021:
- Demand for temperature-sensitive products
- A rise in popularity of air cargo digitization
- Increased focus on autonomous vehicles in the logistics sector
Autonomous vehicles such as Google's driverless car are becoming increasingly popular with products and it is estimated that companies are expecting the commercialization of autonomous cars by around 2019 to 2022. The popularity of these vehicles has penetrated the logistics sector, reaching a level of maturity for commercial use in warehouse operations. For example, In 2016, the introduction of vision-guided autonomous forklifts increased Giant Eagle’s warehouse productivity by more than 10%.
Air Cargo Market Share and Segmentation
Within our air cargo industry research, we provide deep insights into the air cargo market landscape, its segments, and their market share. Our research experts segment this market by air cargo types, operating system, size, and users.
Our air cargo market segmentation research offerings include:
- Air Cargo Market by Type
- Air freight market
- Air mail market
- Air Cargo Market Services Type Market
- Express air cargo market
- Regular air cargo market
- Air Cargo Market by Destination
- Domestic air cargo market
- International air cargo market
We at Technavio, with our comprehensive understanding of the air cargo market, have been monitoring the latest industry trends and developments to create an in-depth portfolio of market research reports. These reports help our clients identify opportunities within the market and develop effective strategies to optimize their market positions. Our air cargo market reports offer the following insights:
- Air cargo industry overview
- Air cargo industry statistics
- Air cargo market size
- Air cargo market share
- Air cargo market growth
- Air cargo market forecast
- Air cargo market trends
