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Air Freight Market Competitive Landscape, Key Drivers, Major Players, Outlook And Forecast To 2033
Air Freight Market
Air Freight Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $396.84 billion In 2028 At A CAGR Of 5.5% :
The air freight market size has grown strongly in recent years. It will grow from $300.7 billion in 2023 to $320.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to footwear personalization, biometric foot mapping, health and wellness integration, connected footwear ecosystem, fashion-tech integration.
The air freight market size is expected to see strong growth in the next few years. It will grow to $396.84 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to adaptive learning algorithms, environmental sustainability, health monitoring and feedback, integration with smart assistants, augmented reality (ar) retail experiences. Major trends in the forecast period include material innovation, smart insole technology, collaborations and limited editions, dynamic style customization, adaptive and responsive design.
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Air Freight Market Major Segments
The air freight market covered in this report is segmented -
1) By Service: Freight, Express, Mail, Other Services
2) By Destination: Domestic, International
3) By End Use: Pharmaceutical, Personal Care, Chemicals, Automobile, Fashion, Other End Users
Key Driver - Fast-Delivery Services Fueling Growth in the Air Freight Market
The escalating demand for fast-delivery services is expected to propel the growth of the air freight market going forward. Fast-delivery services are specialized logistics and transportation solutions designed to ensure the rapid and timely delivery of goods, packages, or shipments from one location to another. Air freight is known for its unparalleled speed compared to other modes of transportation like sea or land. This rapid transportation enables companies to meet tight delivery deadlines and reduces the overall transit time for goods. For time-sensitive and high-value products, such as perishable goods, pharmaceuticals, and electronics, air freight is often the preferred mode of transportation. For instance, according to ShippyPro, an Italy-based software company, by 2023, it is expected that there will be 1.2 billion packages delivered in France and the UK, and this number is projected to increase to 1.9 billion parcels by 2027. Additionally, the same-day delivery market is expected to grow significantly, with an estimated 260 to 521 million items delivered on the same day by 2027, up from 70 million in 2022. Therefore, the escalating demand for fast-delivery services is driving the growth of the air freight market.
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Prominent Trend - Innovative Digital Air Freight Service ECU360 Simplifies Global Shipping
Major companies operating in the air freight market are focused on developing innovative technological solutions, such as ECU360, to increase their profitability in the market. ECU360 is a revolutionary digital air freight service that will simplify shipping for companies of all sizes. For instance, in April 2023, ECU Worldwide, a Belgium-based logistics company, launched a digital air freight service called ECU360. It allows clients to use various integrated services, including receiving an estimate, turning that quote immediately into an online booking, and monitoring their shipments in real-time. The technology streamlines air freight and shipping procedures, making it more straightforward for firms to export their goods globally. With the introduction of ECU360, ECU Worldwide can now provide a distinctive digital logistics platform that may aid the business in growing and broadening its reach in the logistics sector.
Air Freight Market Players
Major companies operating in the air freight market report are Deutsche Post AG, United Parcel Service Inc., FedEx Corporation, Deutsche Bahn AG, Delta Air Lines Inc., American Airlines Inc., Kuehne+Nagel International AG, DSV Panalpina A/S, Southwest Airlines Co., Expeditors International Inc., British Airways plc, Singapore Airlines Limited, Korean Air Lines Co. Ltd., UPS Supply Chain Solutions Inc., Air China Limited, XPO Logistics Inc., TNT Express BV, Kintetsu World Express Inc., Bollore Logistics, Cathay Pacific Airways Limited, Hellmann Worldwide Logistics SE & Co. KG, Cargolux Airlines International S.A., Lufthansa Cargo AG, ANA Cargo Inc., Yusen Logistics Co. Ltd., Qatar Airways Company Q.C.S.C., Nippon Express Co. Ltd., Etihad Airways PJSC, Agility Logistics Pvt. Ltd., CEVA Logistics Ltd.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the air freight market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the air freight market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Air Freight Market Report Structure
3. Air Freight Market Trends And Strategies
4. Air Freight Market - Macro Economic Scenario
5. Air Freight Market Size And Growth
…..
27. Air Freight Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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