Air Cargo Market Trends Growth Future Demand Analysis and Forecast by 2028

The "Air Cargo Market" is expected to grow to US$ 175.24 billion by 2028; it is estimated to grow at a CAGR of 5.9% from 2022 to 2028.

Online retailing attracts more prospective customers than brick and mortar-based competitors due to the global scale of the internet. In addition, e-commerce market players opt for a variety of logistics options such as the surface transport and air transport to deliver packages to their customers. Therefore, as the global e-commerce market is growing, varying buying patterns and trends have been observed in different countries. Majority of the purchase is influenced by the demographics of the country such as the percentage of the youth population indulging in e-commerce activity, the economy of the country, age group interested in e-commerce, and the level of awareness in the country.

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Companies Profiled in this report includes:

• ANA Cargo
• Cargolux
• Cathay Pacific Airways Limited
• DHL International GmbH (Deutsche Post DHL Group)
• Emirates SkyCargo
• Etihad Cargo
• FedEx Corporation
• United Parcel Service of America, Inc.
• Zela Aviation The Air Charter Company
• Lufthansa Cargo AG

COVID-19 Pandemic Impact on Air Cargo Market

Asia Pacific is characterized by a large number of developing countries, a high industrial presence, and a positive economic outlook. Air cargo demand has witnessed growth in the region since the emergence of the COVID-19 crisis, with the Pacific Rim driving most of the growth. The region has benefited from the pickup in economic activity. The rebound in Asia Pacific international CTKs slightly accelerated as airlines added more capacity on the routes. For instance, two leading industry associations estimated positive forecasts for 2021, i.e., Boeing telling air cargo shippers that it will produce more aircraft in the future. In addition, according to IATA, international air cargo grew by 10.5% in February 2021 compared to the same month in 2019. Furthermore, the region's airlines reported the highest international load factor at 74.0%. Hence, the COVID-19 pandemic is positively impacting the air cargo market in Asia Pacific.

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Air Cargo Market Segmentation:

By Type:
• Air Mail
• Air Freight

By Service:
• Express
• Regular

By End User:
• Retail
• Pharmaceutical & Healthcare
• Food & Beverage
• Consumer Electronics
• Automotive

The overall air cargo market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the air cargo market. The process also serves the purpose of obtaining an overview and forecast of the air cargo market size with respect to all air cargo market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. The participants typically involved in this process include VPs, business development managers, air cargo market intelligence managers, national sales managers, and external consultants-such as valuation experts, research analysts, and key opinion leaders-specializing in the air cargo market.

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This release was published on openPR.