Europe Air Cargo Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Air Mail and Air Freight), Service (Express and Regular), and End User (Retail, Pharmaceutical and Healthcare, Food and Beverage, Consumer Electronics, Automotive, a

According to the new research report published by The Insight Partners on ""Europe Air Cargo Market Forecast to 2028 - COVID-19 Impact and Regional Analysis,"" the market is expected to grow from US$ 30.27 billion in 2022 to US$ 43.29 billion by 2028; it is expected to grow at a CAGR of 6.1% from 2022 to 2028.

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Online retailing attracts more prospective customers than brick-and-mortar-based competitors due to the rapid usage of the internet across the globe. In addition, e-commerce market players have a variety of logistics options such as surface transport and air transport to deliver packages to their customers. Therefore, as the e-commerce market is rapidly growing, varying buying patterns and trends have been observed in different countries across the regions. The majority of the purchase is influenced by the demographics of the European countries, which depends on several factors such as the percentage of the youth population indulging in e-commerce activity, the economy of the country, the age group interested in e-commerce, and the level of awareness in these countries. Thus, e-commerce is expected to expand the air cargo industry owing to the rising online shopping trend, which is boosting the demand for parcel delivery services worldwide. Air cargo is suitable for fulfilling the e-commerce companies' transportation needs and delivering products & services with speed, efficiency, and reliability. The fast-growing cross-border e-commerce market remains a key driver of the Europe air cargo market growth. In addition to rising domestic volumes sent by large and small e-retailers, the Europe air cargo market growth is expected to witness significant growth opportunities during the forecast period.

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Turkish Cargo, DHL International, Air France KLM Martinair Cargo, United Parcel Services Inc, and FedEx Corporation are among the leading air cargo market players profiled in the report. These air cargo market players have a well-established customer base along with diversified product offerings for customers. Further, these players have a large consolidated share of the Europe air cargo market. These companies are acquiring smaller vendors and capturing contracts from various end users from emerging countries across the world.

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The Europe air cargo market size is segmented on the basis of type, service, end user, and country. In terms of type, the Europe air cargo market is bifurcated into air mail and air freight. Based on service, the Europe air cargo market size is bifurcated into express and regular. Based on end user, the Europe air cargo market size is segmented into retail, pharmaceutical and healthcare, food and beverage, consumer electronics, automotive, and others. By country, the Europe air cargo market is primarily segmented into France, Germany, the UK, Italy, Russia, and the Rest of Europe.

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Key Findings of Study:

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Europe is the second-largest regional market in the global air cargo market. The UK, France, Germany, Italy, and Spain are the key contributors to the Europe air cargo market in the region. The region has the presence of several major manufacturing industries. The automotive sector contributes significantly to the GDP of various European countries as well as employs billions of people in the region. Germany does not have large-scale consumer electronics production factories; however, the presence of massive automobile manufacturing firms has fuelled the trade, transportation, and logistics operations between Germany and other countries in the world. On the other hand, economically strong countries such as Italy, the UK, and Spain are generating huge demand for air cargo products and services for the optimization of supply chains of pharmaceuticals, e-commerce, food & beverages processing, and other industries. Further, advancements in the Industry 4.0 revolution and integration of machine learning and deep learning with automation are expected to provide significant opportunities for the efficient integration of air cargo in the supply chain operations in the coming years. Moreover, the growth of the e-commerce sector and consumer electronics industry, as well as a surge in demand and sale of temperature-sensitive products are propelling the Europe air cargo market growth.

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Moreover, the presence of major globally operating air cargo market players such as Cargolux, AIR FRANCE KLM MARTINAIR Cargo, DHL, FedEx Express, United Parcel Service, and AirBridgeCargo is one of the major factors catalyzing the growth of the Europe air cargo market. The rising air cargo volume across different airports such as Frankfurt Airport, Munich International Airport, Maastricht Aachen Airport, London Heathrow Airport, Amsterdam Airport Schiphol, and Liege Airport is another major factor bolstering the market growth. For instance, according to the Frankfurt Airport Authority, the airport recorded an increase of ~18.7% in 2021 in its air cargo volume compared to the air cargo capacity of 2020.

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