Analyzing the Global Air Freight Market and its Potential for Growth

IMARC Group, a leading market research company, has recently releases report titled "Air Freight Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global air freight market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Air Freight Market?

The global air freight market size reached US$ 287.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 413.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.7% during 2023-2028.

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Air freight is a method of transporting goods and parcels by air carriers, either through chartered flights or commercial airlines. It is a crucial component of the logistics industry, providing fast and efficient delivery of various types of goods.

One significant application of air freight is the transportation of perishable goods. Perishable items such as fruits, vegetables, dairy products, poultry, premium seafood, and meat products require swift and temperature-controlled transportation to maintain their quality and freshness. Air freight services are equipped with specialized facilities and experienced staff who ensure the proper handling and storage of perishable goods throughout the transportation process.

Efficient coordination between logistics providers and local carrier management systems is essential in air freight operations. This coordination ensures the seamless gathering and loading of items from warehouses and their arrangement onto airplanes. By maintaining effective communication and synchronization between different stakeholders involved in the process, air freight services can optimize the flow of goods and minimize delays.

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What are the growth prospects and trends in the air freight industry?

The growth of the air freight market is driven by several key factors. Firstly, the increasing demand for air freight services is due to its reliability and cost-effectiveness compared to other modes of shipment. Businesses and industries rely on air freight for the fast and efficient transportation of goods, especially for time-sensitive deliveries.

The pharmaceutical and medical sectors are significant contributors to the growth of the air freight market. These industries require urgent and secure transportation of medicines, vaccines, and surgical equipment to various locations. Air freight provides the necessary speed and reliability to meet their critical delivery needs, ensuring that essential medical supplies reach their destinations promptly.

The rise of e-commerce has also played a crucial role in the growth of air freight. With the increasing trend of online shopping, there is a higher demand for quick and efficient delivery of goods. Air freight offers expedited shipping options for e-commerce platforms, enabling them to meet customer expectations for fast delivery.

Furthermore, key market players are investing in technology transformation to enhance operational efficiency. Upgrading old mainframe systems to more adaptable interfaces improves processes such as flight operations, revenue accounting, and network planning. These technological advancements streamline operations, improve accuracy, and enable better management of air freight services.

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What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Service:
• Freight
• Express
• Mail
• Others

Breakup by Destination:
• Domestic
• International

Breakup by End User:
• Private
• Commercial

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

American Airlines Inc.
ANA Cargo Inc.
Bolloré Logistics
Cargolux Airlines International S.A.
Delta Air Lines Inc.
Deutsche Bahn AG
Deutsche Post AG
DSV A/S
Expeditors International of Washington Inc.
FedEx Corporation
Hellmann Worldwide Logistics SE & Co. KG
Kuehne + Nagel International AG
Nippon Express Co. Ltd.
Qatar Airways
United Parcel Service Inc.

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This release was published on openPR.