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Market Outlook
The global air freight market size reached a volume of nearly 69.7 million metric tons in 2019. The market size is expected to grow at a CAGR of 12% during the forecast period of 2020-2025 to reach a volume of around 137.5 million metric tons by 2025.
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North America is the most significant market for air freight, with the United States being the leading regional market. The market in the region is being driven by the growing end-use industries, which comprise of electrical, personal care, machinery and automobile equipment, pharmaceutical, fashion, and retail sectors, among others.
The Asia Pacific is likely to witness a healthy growth in the forecast period. Surplus volume from China is expected to be supplied to other Southeast Asian countries. The supply in the region surpasses the demand, owing to the expanded capacity, which started growing faster since 2018. The region’s capacity expanded by around 2.5% in 2019 as compared to 2018. The market is also expected to be supported by the rising investments in the Southeast Asian nations by the freight forwarders. The sourcing locations by the shippers are expected to change in the coming years, that is, the cargo traffic is likely to be shifted from China to the Southeast Asian nations like Vietnam. The shift is expected to occur to attract more third part logistics investments in the Southeast Asian nations, where the demand is healthy, and the potential is also high. The freight rates, however, will increase between the United States and China, and are likely to affect the market and might act as a constraint for the industry growth for a short period.
Mexico is planning to add terminal 3 in the coming years in order to make the airport more manageable. In the recent years, the airport has been facing problems like difficulty in managing slots. Adding another terminal is likely to manage all the flights in the region’s busiest airport. This expected addition is leading to more routes being explored by the shippers who are planning to route Chinese freight to the United States through Mexico.
Properties and Applications
Air freight refers to the carrier that is used to transport goods by air. Air freight facilities are offered by nearly all the airlines. There are two types of cargo that are delivered through air freight, namely, perishable and emergency items, and regular non-perishable goods. Products like jewellery, clothes, and other products are included in the non-perishable segment. Food items like fruits, vegetables, and meats, as well as medicines, are included in the perishable category.
The EMR report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Analysis
The global air freight market is being driven by the growing demand for high-technology products and apparel, especially in the Asia Pacific region. The region has a rapidly growing electronics market, owing to the developing economies and the rising disposable income of the consumers. The expected plan of the shippers to shift from China to other Southeast Asian countries as the sourcing locations is also expected to support the demand growth for air freights.
The air freight market in Europe is being propelled by the growing demand for pharmaceuticals as well as medical equipment. The region is also witnessing a robust growth in its automobiles industry, which is providing further impetus to the air freight market, which is extremely useful in the transportation of these products within the domestic and overseas markets. The Middle East and Africa air freight market, on the other hand, is being supported by the rising demand for oil and mining equipment in the region. The construction activities in the region are also on the rise, providing a push to the air freight market growth. The demand for air freights in Africa is especially growing at a healthy, positive rate.
The North America air freight market is aided by the increasing demand for hi-tech appliances. Improved Capex that is, capital expenditure, is also driving the freight market forward. The addition of another terminal at the Mexico airport is also expected to increase the demand for air freight in the region.
Competitive Landscape
November 2019- CEVA Logistics opened a new facility in Sri Lanka, to serve the needs of the consumers in the South Asian country, along with the Maldives.
The report gives a detailed analysis of the following key players in the global air freight market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on Porter’s five forces model, along with giving a SWOT analysis.
1 Preface
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.4 Assumptions
2.5 Market Models
3 Introduction
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Cost Structure
4.5 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Air Freight Market Analysis
6.1 Figure: Global Air Freight Historical Market (2015-2019) & Forecast (2020-2025)
6.2 Chart: Global Air Freight Market Breakup by End Use
6.2.1 Pharmaceutical
6.2.2 Personal Care
6.2.3 Chemicals
6.2.4 Automobile
6.2.5 Fashion
6.2.6 Others
6.3 Figure: Global Air Freight Market Breakup by End Use: Historical Market (2015-2019) & Forecast (2020-2025)
6.3.1 Pharmaceutical
6.3.2 Personal Care
6.3.3 Chemicals
6.3.4 Automobile
6.3.5 Fashion
6.3.6 Others
6.4 Chart: Global Air Freight Market Breakup by Destination
6.4.1 Domestic
6.4.2 International
6.5 Figure: Global Air Freight Market Breakup by Destination: Historical Market (2015-2019) & Forecast (2020-2025)
6.5.1 Domestic
6.5.2 International
6.6 Chart: Global Air Freight Market Breakup by Region
6.6.1 North America
6.6.1.1 United States of America
6.6.1.2 Canada
6.6.2 Europe
6.6.2.1 Germany
6.6.2.2 France
6.6.2.3 United Kingdom
6.6.2.4 Italy
6.6.2.5 Others
6.6.3 Asia Pacific
6.6.3.1 China
6.6.3.2 Japan
6.6.3.3 India
6.6.3.4 ASEAN
6.6.3.5 Others
6.6.4 Latin America
6.6.4.1 Brazil
6.6.4.2 Argentina
6.6.4.3 Mexico
6.6.4.4 Others
6.6.5 Middle East and Africa
6.6.5.1 Saudi Arabia
6.6.5.2 United Arab Emirates
6.6.5.3 Nigeria
6.6.5.4 South Africa
6.6.5.5 Others
6.7 Figure: Global Air Freight Market Breakup by Region: Historical Market (2015-2019) & Forecast (2020-2025)
6.7.1 North America
6.7.1.1 United States of America
6.7.1.2 Canada
6.7.2 Europe
6.7.2.1 Germany
6.7.2.2 France
6.7.2.3 United Kingdom
6.7.2.4 Italy
6.7.2.5 Others
6.7.3 Asia Pacific
6.7.3.1 China
6.7.3.2 Japan
6.7.3.3 India
6.7.3.4 ASEAN
6.7.3.5 Others
6.7.4 Latin America
6.7.4.1 Brazil
6.7.4.2 Argentina
6.7.4.3 Mexico
6.7.4.4 Others
6.7.5 Middle East and Africa
6.7.5.1 Saudi Arabia
6.7.5.2 United Arab Emirates
6.7.5.3 Nigeria
6.7.5.4 South Africa
6.7.5.5 Others
7 Global Air Freight Price Analysis
7.1 Air Freight Price Trends
7.2 Jet Fuel Price Trends
8 SWOT Analysis
8.1 Overview
8.2 Strengths
8.3 Weaknesses
8.4 Opportunities
8.5 Threats
9 Porter’s Five Forces Analysis
9.1 Overview
9.2 Buyer’s Power
9.3 Supplier’s Power
9.4 New Entrants
9.5 Degree of Rivalry
9.6 Substitutes
10 EMR’s Key Indicators for Demand
11 EMR’s Key Indicators for Price
12 Procurement Strategy
12.1 Pricing Models
12.2 Engagement Framework
13 Cost Analysis
13.1 Fuel Cost
13.2 Handling and Landing
13.3 Labour
13.4 Depreciation
13.5 Other Operating Expense
13.6 Trucks and Truck Handling
13.7 Maintenance and Repair
13.8 Aircraft Lease Expense
14 Competitive Landscape & Supplier Analysis
14.1 Deutsche Post AG
14.1.1 Company Overview
14.1.2 Financial Analysis
14.2 Kuehne + Nagel International AG
14.2.1 Company Overview
14.2.2 Financial Analysis
14.3 Panalpina World Transport (Holding) Ltd.
14.3.1 Company Overview
14.3.2 Financial Analysis
14.4 Expeditors International of Washington, Inc
14.4.1 Company Overview
14.4.2 Financial Analysis
14.5 DB Schenker
14.5.1 Company Overview
14.5.2 Financial Analysis
14.6 Agility
14.6.1 Company Overview
14.6.2 Financial Analysis
14.7 Kintetsu World Express, Inc.
14.7.1 Company Overview
14.7.2 Financial Analysis
14.8 CEVA Logistics
14.8.1 Company Overview
14.8.2 Financial Analysis
14.9 Others
15 Events and Developments
The global air freight market attained a volume of nearly 69.7 million metric tons in 2019. It is expected to witness a further growth in the forecast period of 2020-2025, growing at a CAGR of 12%. The market is projected to reach nearly 137.5 million metric tons by 2025.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The market is divided into North America, Latin America, Middle East and Africa, Europe, and the Asia Pacific, based on region, with North America being the largest regional market. The key players in the above industry are 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.
The major drivers of the industry such as rising disposable incomes, increasing population, rising urbanisation, growing demand for technology and apparels from the Asia Pacific, growing demand for pharmaceuticals in Europe, and the rising demand for oil and mining equipment in the Middle East and Africa are driving the growth of the market globally. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with industry insights that are accurate, actionable, and help them remain ahead of their competition.
EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected industry conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:
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