PUBLISHER: 360iResearch | PRODUCT CODE: 1470451
PUBLISHER: 360iResearch | PRODUCT CODE: 1470451
[180 Pages Report] The Aviation Freight & Cargo Market size was estimated at USD 142.03 billion in 2023 and expected to reach USD 153.24 billion in 2024, at a CAGR 7.91% to reach USD 242.13 billion by 2030.
Aviation freight and cargo refer to the transportation of goods, products, and materials via air. This mode of transport is a vital component of the global supply chain as it facilitates international trade, economic growth, and connectivity between countries and regions. Aviation freight and cargo are used for the transport of dangerous goods, live animals, perishable cargo, wet cargo, and time and temperature-sensitive products. The growth and demand for aviation freight & cargo can be attributed to rising globalization and increased cross-border trade activities. Additionally, the rise in e-commerce has significantly contributed to the demand for rapid parcel delivery services. However, high operational costs due to fuel price volatility or maintenance expenses are major concerns affecting profit margins for stakeholders within this sector. Furthermore, environmental concerns and security issues of using aviation freight and cargo services for the delivery of goods also contribute to reduced adoption. However, efforts by major players to invest in the adoption of renewable and clean energy and sustainable practices in cargo delivery and the upgradation of aviation infrastructure can help circumvent issues related to environmental and security concerns. Incorporation of technologies such as artificial intelligence, sensor devices, machine learning, or IoT in streamlining logistics processes can improve tracking capabilities and reduce human errors.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 142.03 billion |
Estimated Year [2024] | USD 153.24 billion |
Forecast Year [2030] | USD 242.13 billion |
CAGR (%) | 7.91% |
Cargo Type: Advancements in special cargo to improve its potential to maintain product integrity throughout transit
General cargo refers to the shipment of non-perishable goods that do not require any special handling or storage conditions during transport. These typically include consumer goods, textiles, machinery parts, and electronics. General cargo costs less compared to special cargo, as these items do not require additional equipment or specialized personnel for handling. Special cargo pertains to items requiring particular attention during transportation, such as perishable goods, dangerous goods, valuable items, live animals, vulnerable electronics, and pharmaceuticals. Special cargo ensures proper care is taken throughout the transport process to maintain the integrity of these specialized products.
Service: Preference for express services by industries requiring rapid delivery times
Express services cater to time-sensitive shipments that demand rapid delivery times, even on short notice. The key differentiating factor for express services is the expedited transit times they offer compared to other segments. Customers in industries such as e-commerce, healthcare, and automotive prefer express services due to their ability to minimize disruptions in supply chains. Freight services comprise the transportation of large volumes of commercial goods via air cargo carriers. This segment prioritizes cost-efficiency over speed and typically serves customers looking for reliable transport solutions without the added expense associated with expedited shipping methods. Industries such as manufacturing, retail, and agriculture are primary users of air freight services. Airmail services are responsible for the delivery of postal items, including letters, parcels, and financial documents. These services focus on providing secure transportation at relatively lower costs compared to express shipping. Customers in sectors such as finance, insurance, and government agencies often have a strong preference for air mail due to its cost-effectiveness and security features.
Destination: Rising number of cross-border trade activities leading to adoption of aviation freight and cargo
In the domestic aviation freight and cargo sector, a need-based preference focuses on meeting the demands for local distribution of goods, including perishables, pharmaceuticals, e-commerce packages, and industrial equipment. The international aviation freight and cargo sector caters to global trade requirements by transporting goods across borders. In terms of need-based preferences for international air cargo services, critical factors include efficient customs clearance processes, adherence to safety regulations in transporting hazardous materials, cold-chain management for temperature-sensitive goods such as pharmaceuticals or perishable items, and reliable tracking systems to monitor shipments' progress.
End-Use: Demand of commercial users for efficient logistics operations driving utilization of aviation freight and cargo services
Commercial aviation freight and cargo primarily involve the transportation of goods via large-scale air carriers for business purposes. The need-based preferences in this segment include efficient logistics, high cargo capacity, and appropriate regulatory compliance. Private aviation freight and cargo typically involve smaller-scale air transport providers catering to individual clients or niche markets. The need-based preferences in this segment include the ability of customization, flexibility, and high-quality service.
Regional Insights
The aviation freight and cargo industry in the Americas is highly competitive, with major players operating extensive networks to cater to a broad range of industries such as e-commerce, pharmaceuticals, perishables, and high-value electronics. The robust growth in e-commerce has fueled the demand for expedited shipping services, which have further driven investments in air freight fleet expansions as well as innovative technologies for optimizing operations. Efforts are being made by governments in Latin America to invest in airport development projects to facilitate seamless trade with North America and beyond. The aviation freight & cargo industry in Asia is growing rapidly due to strong economic growth in countries including China and India. Technological advancements such as the implementation of electronic air waybills (e-AWB) have streamlined cargo handling processes across major Asian hubs, providing greater efficiency to shippers worldwide. Moreover, strategic alliances among key airlines and market players have expanded their service offerings, enabling them to cater to diverse customer needs more effectively. Europe's aviation freight & cargo industry has a long history of innovation and collaboration. Major regional players provide extensive coverage across the European continent as well as international routes.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Aviation Freight & Cargo Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Aviation Freight & Cargo Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Aviation Freight & Cargo Market, highlighting leading vendors and their innovative profiles. These include AirBridgeCargo Airlines, Limited, All Nippon Airways Co. Ltd, Asiana Airlines Inc., Bollore Logistics LLC, British Airways PLC, Cathay Pacific Airways Limited, Deutsche Lufthansa AG, DHL International GmbH, FedEx Corporation, Hellmann Worldwide Logistics GmbH & Co. KG, International Consolidated Airlines Group SA, Kuehne + Nagel International AG, Magma Aviation Limited, Nippon Express Co. Ltd., Singapore Airlines Limited, The Emirates Group, and United Parcel Service Inc..
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Aviation Freight & Cargo Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Aviation Freight & Cargo Market?
3. What are the technology trends and regulatory frameworks in the Aviation Freight & Cargo Market?
4. What is the market share of the leading vendors in the Aviation Freight & Cargo Market?
5. Which modes and strategic moves are suitable for entering the Aviation Freight & Cargo Market?