Global Air Cargo Market Size, Share, Growth Analysis, By Type of cargo(General cargo, perishable goods), By Service type(Express delivery, freight forwarding) - Industry Forecast 2023-2030

Global Air Cargo Market size was valued at USD 123.90 billion in 2021 and is poised to grow from USD 131.09 billion in 2022 to USD 205.80 billion by 2030, growing at a CAGR of 5.8% during the forecast period (2023-2030).

The global air cargo market stands as a vital and dynamic industry pivotal to facilitating international trade and connecting businesses worldwide. Positioned as an efficient mode of transporting goods via air carriers to diverse destinations, the market ensures timely deliveries and seamless supply chain operations. In response to the global push for business globalization and expedited transportation, the air cargo market emerges as a key player, driven by factors contributing to its growth and significance. Increasing globalization has spurred cross-border trade, necessitating expedited shipping methods, with air cargo providing unparalleled speed and efficiency, minimizing inventory holding costs for perishable items. The e-commerce boom, driven by online shopping, significantly impacts the air cargo market, as it becomes a critical enabler for companies to meet customer expectations through fast and reliable delivery options. While the market faces challenges such as fuel price volatility impacting operating costs and regulatory restrictions, it continues to exhibit growth trends, including the adoption of advanced technologies like automation, robotics, and artificial intelligence for cargo handling optimization. Sustainability considerations have prompted exploration of eco-friendly alternatives in the air cargo sector. Despite challenges, the global air cargo market offers ample opportunities for businesses to expand operations, enhance global supply chain capabilities, and foster collaborations to create end-to-end solutions. With an estimated market size exceeding $120 billion by 2025, the global air cargo market provides a compelling avenue for companies to maximize logistical efficiency, reduce transit times, and drive economic growth in the evolving global marketplace.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Air Cargo Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Air Cargo Market Segmental Analysis

The global air cargo market is segmented on the basis of type of cargo, service type, and region. By type of cargo, the market is segmented into general cargo, perishable goods, pharmaceuticals, e-commerce parcels, automotive parts, electronics, and Others. By service type, the market is segmented into express delivery, freight forwarding, charter services, and courier services. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Air Cargo Market

The remarkable expansion of e-commerce stands as a key catalyst for the air cargo market. The surge in online shopping has generated heightened expectations for swift and efficient global delivery of goods. Air cargo emerges as a crucial solution, providing rapid transportation that enables companies, exemplified by Amazon's heavy reliance on air cargo services, to meet customer expectations for prompt product delivery.

Restraints in the Global Air Cargo Market

The air cargo market encounters challenges stemming from restricted capacity and infrastructure limitations. Cargo space is comparatively constrained in comparison to passenger flights, necessitating airport investments in infrastructure to accommodate rising cargo volumes. Capacity constraints, particularly during peak seasons or unexpected events like natural disasters or global crises, can result in delays and elevated costs. The COVID-19 pandemic exemplifies the impact of reduced passenger flights on air cargo capacity, causing disruptions in the supply chain. Addressing these challenges requires strategic investments in infrastructure and adaptive measures to ensure the resilience and efficiency of the air cargo market in the face of fluctuating demand and unforeseen circumstances.

Market Trends of the Global Air Cargo Market

The air cargo industry is embracing digitization and automation as strategies to enhance efficiency and streamline operations. Utilizing technologies like blockchain, Internet of Things (IoT), and artificial intelligence (AI), the industry aims to improve supply chain visibility, enable real-time shipment tracking, optimize route planning, and automate documentation processes. Examples of this digital transformation include platforms like Cargo.one and WebCargo, which empower airlines and freight forwarders to digitally book cargo space, reducing manual efforts and enhancing overall operational efficiency.