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The global air freight market is driven by the rise in the various end-use industries, comprising of electrical, personal care, machinery, and automobile equipment industries, among others. The North America region is a significant market for air freight, with the United States leading the region. The rising investments in Southeast Asian nations by the freight forwarders is expected to support market growth. In the Southeast Asian countries, the investments are increasing due to a healthy demand and high growth potential in the region. The rising consumer and retail industries are also driving the air freight market. The robust demand for products sourced from e-retail platforms like Amazon (NASDAQ: AMZN) across the world is, thus, propelling the growth of the air freight market further.
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The air freight market is also witnessing a significant growth in Europe, primarily driven by the rising demand from the pharmaceutical industry in the region. In August 2018, D B Schenker, a leading player in the air freight market, introduced ‘Connect 4.0’, its digital innovation platform, to overland freight in Germany and Spain. In January 2019, the same service was expanded to Air and Ocean freight, with the company expanding the service to significant markets like India and the United States by September 2019.
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Deutsche Post AG, Kuehne + Nagel International AG, Panalpina World Transport (Holding) Ltd., Expeditors International of Washington, Inc, DB Schenker, Agility, Kintetsu World Express, Inc., and CEVA Logistics, among others are the key players in the global air freight market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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