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Global Air Freight Market Expected to Grow at a CAGR of 12% between 2022 and 2027.

According to a new report by EMR titled, ‘Global Air Freight Market Report and Forecast 2022-2027’, the global air freight market reached a volume of almost 69.7 million metric tons in 2020. The market is predicted to grow at a CAGR of 12% in the forecast period of 2022-2027 to reach a volume of around 137.5 million metric tons by 2026.

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 2020, 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 2020.

Market Analysis by Region:

  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of The Report:

  • The global air freight market is being driven by the growing demand for high-technology products and apparel, especially in the emerging regions.
  • The rising electronics market, owing to the inflating disposable income of the consumers in the developing economies, is enhancing the market growth of air freight.
  • The market is also expected to be driven by the plan of the shippers to shift from China to other Southeast Asian countries as the sourcing locations.
  • The increasing demand for pharmaceuticals, as well as medical equipment, is propelling the market for air freight.
  • The booming automobiles industry is providing further impetus to the air freight market.
  • The rise in the construction activities is also providing a push to the air freight market. 
  • The air freight market is being supported by the rising demand for oil and mining equipment, which is further enhancing the market growth.
  • The increasing demand for hi-tech appliances is also aiding the global air freight market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global air freight market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the major regions in the global air freight market.
  • It also gives an overview of the key demand and price indicators.
  • An in-depth assessment of the market has been given through Porter’s Five Forces model.
  • A SWOT and a cost analysis have been provided within the EMR report. 

Deutsche Post AG, Panalpina World Transport (Holding) Ltd., Expeditors International of Washington, Inc. (NASDAQ: EXPD), Kintetsu World Express (I) Pvt. Ltd., CEVA Logistics, and DB Schenker, 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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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