PUBLISHER: MarketLine | PRODUCT CODE: 1310834
PUBLISHER: MarketLine | PRODUCT CODE: 1310834
Global Air Freight industry profile provides top-line qualitative and quantitative summary information including: sector size (value 2018-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the sector.
The air freight sector is defined as consisting of revenues generated from freight transportation by air.
Units of volumes are measured in freight ton-kilometers (FTK). Air freight volumes, consisting of freight, express, and diplomatic bags, include both domestic and international freight which for the purposes of this report are counted at each flight stage.
Value represents the revenue obtained by airline companies from freight transportation.
All market data and forecasts are represented in nominal terms (i.e., without adjustment for inflation) and all currency conversions used in the creation of this report have been calculated using constant 2022 annual average exchange rates.
The global air freight sector had total revenues of $99.7 billion in 2022, representing a negative compound annual growth rate (CAGR) of 2.1% between 2017 and 2022.
Sector consumption volumes declined with a negative CAGR of 3.1% between 2017 and 2022, reaching a total of 171 billion FTK in 2022.
The global air freight sector has declined recently owing to several factors such as increasing interest rates and rising inflation. High-interest rates reduce access to credit for the companies involved, thereby reducing the volume of investment which negatively impacts air freight. For instance, according to the OECD, the long-term interest rates in the US grew from 2.4% in December 2017 to 3.6% in December 2022.