Press release
Air Transport Market Report 2024: Strategies And Recent Developments | The Emirates Group, China Airlines Ltd., American Airlines Group Inc., Delta Air Lines Inc., United Airlines Inc
Air Transport Market Size
The Business Research Company offers in-depth market insights through Air Transport Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The air transport market size has grown strongly in recent years. It will grow from $1016.38 billion in 2023 to $1085.37 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to economic growth, globalization, tourism and leisure travel, connectivity and accessibility.
The air transport market size is expected to see strong growth in the next few years. It will grow to $1394.51 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to emerging markets, global trade and e-commerce, urbanization, aircraft efficiency and sustainability, connectivity and network expansion. Major trends in the forecast period include sustainable aviation, digital transformation, air cargo and e-commerce, ultra-long-haul flights.
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Market Segmentation:
The main types of air transports are passenger air transport, chartered air transport, and air cargo services. The chartered air transport services include both public and private chartered services that provide passengers with air transportation. The market is segmented by distance into long-distance and short-distance and by end-use into private and commercial.
Major Driver - Rising E-Commerce's Drives Content Transport Services Market Growth
The rise of e-commerce and online shopping is expected to propel the growth of the air transport market going forward. E-commerce, also known as electronic commerce, refers to the buying and selling of goods and services over the Internet or other electronic communication platforms. Air transport enhances e-commerce by ensuring timely and efficient delivery of products, expanding market reach for online retailers, and reducing delivery times for customers, fostering convenience and satisfaction. For instance, in September 2022, according to the International Trade Administration, a US-based Department of Commerce, consumer eCommerce now made up 30% of the UK's overall retail sector (up from 20% in 2020), with an annual e-commerce revenue of more than $120 billion. In 2021, 82% of people in the UK will have made at least one online purchase. Therefore, the rise of e-commerce and online shopping is driving the air transport market.
Competitive Landscape:
Major companies operating in the air transport market include The Emirates Group, China Airlines Ltd., American Airlines Group Inc., Delta Air Lines Inc., United Airlines Inc., China Southern Airlines, Qatar Airways Company Q.C.S.C, Air France-KLM SA, Deutsche Lufthansa AG, FedEx Corporation, United Parcel Service Inc., Cathay Pacific Airways Limited, Cargolux Airlines International SA, Japan Airlines Co. Ltd., ANA Holdings Inc., International Consolidated Airlines Group SA, Magma Aviation Limited, Deutsche Post AG, Kuehne Nagel International AG, AirBridgeCargo Airlines LLC, Cargojet Inc., Gol Linhas Aereas Inteligentes SA, Azul Linhas Aereas Brasileiras S/A, Latam Airlines, Compania Panamena de Aviacion SA, Lufthansa Cargo AG, Korean Air Lines Co. Ltd., Singapore Airlines Ltd., Air China Limited, Turkish Airlines Inc., Air Canada Inc., Ethiopian Airlines Group, British Airways plc, Air India Limited, Malaysia Airlines Berhad, Philippine Airlines Inc., Vietnam Airlines Corporation, Garuda Indonesia (Persero) Tbk PT, Royal Jordanian Airlines.
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Top Trend - Enhanced Partner Identification And Connectivity (EPIC) Transforms The Air Cargo Supply Chain
Major air transport companies prioritize innovative platforms like enhanced partner identification and connectivity to enhance operational efficiency and passenger experience and gain a competitive advantage. The Enhanced Partner Identification and Connectivity (EPIC) platform will help the worldwide air freight supply chain go digital. For instance, in March 2021, the International Air Transport Association, a Canada-based trade association, developed the EPIC platform for Enhanced Partner Identification and Connectivity. Through the rapid sharing of vital data like messaging capabilities and identities, EPIC streamlines the difficult process of creating digital links across the whole air cargo value chain.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Air Transport Market Characteristics
3. Air Transport Market Trends And Strategies
4. Air Transport Market - Macro Economic Scenario
5. Air Transport Market Size And Growth
…..
27. Air Transport Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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