PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1303593
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1303593
Global Air Cargo Service Market is valued approximately USD 123.9 billion in 2022 and is anticipated to grow with a compounded annual growth rate of more than 5.90% over the forecast period 2023-2030. Air Cargo Service refers to the industry sector that provides the transportation and logistics facility for good and packages through air transportation. It encompasses the various activities involved in shipping cargo via aircraft, including the handling, storage and delivery of goods by air. Moreover, the growth of e-commerce and rapid infrastructural development emerge as to be the growth drivers of Global Air Cargo Service Market.
According to Statista in 2022, It was expected that the Chinese e-commerce market will generate approximately USD 1.5 trillion in revenue. The United States , which ranks second globally, is expected to contribute over half of China's revenue, amounting to around USD 875 billion. Japan follows closely behind with an approximate revenue of USD 241 billion. According to the India Brand Equity Foundation (IBEF) in 2022, the projected growth of India's logistic market is significant, with an expected value of USD 410.75 billion and is expected to grow USD 556.97 billion by 2027, reflecting a compound annual growth rate of 6.28%. India has set ambitious goal of for its logistics sector, aiming to improve its ranking in the logistic performance index to 25 and reduce the logistic cost from 14% to 8% of GDP. This reduction, amounting to approximately 40%, is targeted to be achieved within the next five years. These emerging factors may significantly lead the growth of Global Air Cargo Services Market. However, high operational cost and environmental Concern may hamper the growth of the market. Moreover, expansion in cross border trade and expansion of sustainable operations are expected to elevate the growth of the Global Air Cargo Services Market.
The key regions considered for the Global Air Cargo Service Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific region has the market dominance owing to the factors such as large population possess in this region, emerging. e-commerce market and so on. Similarly, Asia Pacific is also the fastest growing region owing to the fact that the companies are expanding their operation due to low cost of labor and availability of other resources to implement the connectivity with the rest of the world.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable