Press release
Airfreight Forwarding Market Segmentation, Development Factors, SWOT Analysis, Report 2023-2028
Airfreight Forwarding Market
The global airfreight forwarding market size reached 47.7 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 60.7 Million Tons by 2028, exhibiting a growth rate (CAGR) of 3.6% during 2023-2028.
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Factors Affecting the Growth of the Airfreight Forwarding Industry:
• Rapid E-commerce Expansion:
The global airfreight forwarding market is experiencing significant growth, largely fueled by the expansion of e-commerce. This rise in online retail activities has necessitated rapid, reliable, and efficient shipping solutions, particularly for cross-border transactions. Additionally, the demand for airfreight services is directly linked to this e-commerce boom, as vendors seek faster delivery options to meet customer expectations. Market analysis indicates a correlating rise in market size and market share of airfreight services within the logistics sector, driven by the increasing volume of goods traded through digital platforms. This trend is expected to persist, underpinning a positive market outlook for airfreight forwarding.
• Continuous Technological Advancements:
Technological innovations are a key factor propelling the airfreight forwarding market. The integration of advanced technologies such as AI, IoT, and blockchain for tracking, scheduling, and automating processes has enhanced operational efficiency and reliability in airfreight services. These technological advancements have led to more precise tracking, improved handling of cargo, and reduced transit times, thereby attracting more customers. Market growth is also being supported by the development of more sophisticated aircraft, capable of carrying larger cargos over longer distances. The market analysis suggests that continued technological evolution will remain a central market trend, significantly influencing future market outlook and market share dynamics within the industry.
• Global Supply Chain Diversification:
In recent years, there has been a marked shift towards diversification in global supply chains. Businesses are increasingly seeking to mitigate risks by spreading their manufacturing and sourcing across multiple regions. This diversification necessitates a more flexible and rapid transportation model, where airfreight plays a crucial role. The ability to quickly move goods across vast distances helps companies manage their inventory more effectively and respond swiftly to market changes. This has led to an upsurge in the market size of the airfreight forwarding industry, as companies increasingly rely on air transport for their logistic needs. Market analysis underscores this trend as a driving factor for sustained market growth, shaping the future market outlook for airfreight forwarding services.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
• Bolloré Logistics
• CEVA Logistics AG (CMA CGM S.A.)
• Deutsche Post AG
• DSV Panalpina A/S
• Expeditors International
• Hellmann Worldwide Logistics
• Kuehne Nagel International AG
• Nippon Express
• Sinotrans Limited
• UPS Supply Chain Solutions
Airfreight Forwarding Market Report Segmentation:
Breakup by Type:
• Full Charter
• Split Charter
On the basis of type, the market has been divided into full charter and split charter.
Breakup by Service Type:
• Packaging and Labelling
• Documentation and PO Management
• Charter Services
• Transportation and Warehousing
• Others
On the basis of service type, the market has been divided into packaging and labelling, documentation and PO management, charter services, transportation and warehousing, and others.
Breakup by End Use Industry:
• Retail and FMCG
• Manufacturing
• Consumer Appliances
• Healthcare
• Others
On the basis of end use industry, the market has been divided into retail and FMCG, manufacturing, consumer appliances, healthcare, and others.
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
On the basis of region, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
Airfreight Forwarding Market Trends:
The airfreight forwarding market is witnessing a shift towards sustainable and green logistics, a trend driven by increasing environmental awareness and stringent regulations. Shippers and service providers are investing in fuel-efficient aircraft and exploring alternative fuels to reduce carbon footprint. Another notable trend is the growing emphasis on value-added services, such as specialized handling for pharmaceuticals and perishables, catering to specific industry needs.
Additionally, the market is seeing a rise in strategic partnerships and collaborations among key players to expand global networks and enhance service capabilities. These trends collectively contribute to the evolving landscape of the airfreight forwarding market, influencing both current operations and future strategies.
Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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EU
China
Japan
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