Air Cargo Market Outlook to 2027 Leading by Top Players DHL International, Lufthansa Cargo, FedEx, Emirates SkyCargo, Cargolux, Cathay Pacific Airways, United Parcel Service of America, ANA Cargo, and EtihadCargo
Rising e-commerce industry as well as relocation of manufacturing in ASEAN countries propelling the air cargo market in the APAC region
The key players operating in the air cargo market includes FedEx Express, UPS Airlines, DHL Aviation, Emirates, Cathay Pacific Airways, Korean Air Cargo, Lufthansa, Singapore Airlines Cargo, China Airlines, British Airways, Cargolux, ANA CARGO, and Zela Aviation The Air Charter Company among others.
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Asia Pacific dominates the global air cargo market, followed by Europe. The growth in Asia Pacific region is highly influenced by the burgeoning e-commerce market in the developing economies of the region, as well as, the presence of strong manufacturing sector. The strong e-commerce sector of the region has resulted in increased cross-border e-commerce sales. For instance, air cargo hubs are becoming gradually important for the e-commerce growth, as e-commerce giants, integrators as well as carriers are strengthening their package sorting and automation competences, coupled with expanding networks with an aim to acquire a larger portion of the growing demand.
Although global economic growth is estimated to surge in aggregate during the forecast period, this covers a broad range in regional as well as country-level performance. Economic activity in the developed economies is anticipated to grow at a similar pace as they were during the past five years, with moderate slowdowns in the US and Japan, being compensated by sturdier growth in the Eurozone. The latter is expected to support incoming demand for air cargo into Europe on the major trade lanes between North America and Asia.
The air cargo market is segmented based on regular and express services. The express service market is expected to witness a significant demand during the forecast period due to the increasing online buyers. Moreover, express service with extra value-added services acts as a competitive edge among air cargo vendors. The regular service is a traditional service with less cost compared to the express service. Regular services are generally used where time is not a constraint.
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The report segments the global air cargo market as follows:
Global Air Cargo Market - By Type
Global Air Cargo Market - By Service
Global Air Cargo Market - By End-user
Pharmaceutical & Healthcare
Food & Beverage
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