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Freight Chartered Air Transport Market 2024 - By Growth Analysis, Opportunities, Business Insights, Key Trends And Forecast By 2033
Freight Chartered Air Transport Market
Freight Chartered Air Transport 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 $46.35 billion In 2028 At A CAGR Of 11.3% :
The freight chartered air transport market size has grown rapidly in recent years. It will grow from $27.07 billion in 2023 to $30.19 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growth of air cargo transportation and ocean shipping delays.
The freight chartered air transport market size is expected to see rapid growth in the next few years. It will grow to $46.35 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to government support, rising urbanization and benefits of freight chartered air transport over other modes of freight transportation. Major trends in the forecast period include focus on business expansion, partnerships and collaborations, mergers and acquisitions and launch of new cargo centers.
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Freight Chartered Air Transport Market Major Segments
The freight chartered air transport market covered in this report is segmented -
1) By Cargo Type: Heavy And Outsize Cargo, Dangerous Cargo, Animal Transportation, Other Cargo Types
2) By Application: Private Use, Commercial Use
3) By End Use: Individuals, Sports Teams, Large Corporations
Key Driver - Urgent Shipment Of Dangerous Goods Driving Growth In The Freight Chartered Air Transport Market
The growing need for urgent shipment of dangerous goods and hazardous materials is expected to drive the freight chartered air transport market. Sensitive freight with dangerous goods includes explosives, highly flammable gases, radioactive materials, and military items. Toxic and infectious substances require a special skill set and expert knowledge for shipping the goods. These goods are transported through chartered cargo to avoid explosions and contamination. For instance, the Federal Aviation Administration (FAA) of the USA granted the authority for chartered cargo services along with training for all employees, in the form of a part-135 certificate, to operate on demand under an FAA-approved hazardous materials program. Urgent shipment of dangerous goods and hazardous materials is therefore expected to drive freight chartered air transport market growth.
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Prominent Trend - Blockchain Integration Revolutionizes Logistics In The Freight Chartered Air Transport Market
The companies in the freight chartered air transport market are focusing on the use of blockchain technology to improve logistics in multiple sectors. Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. For example, in September 2020, AirAsia, a Malaysia based multinational airline, launched its blockchain-based air cargo network, Freightchain, to help uncover all available cargo network connections operated by airlines and then facilitate bookings in real-time via bids that are verified instantly on the blockchain.
Freight Chartered Air Transport Market Players
Major companies operating in the freight chartered air transport market report are Atlas Air Worldwide Holdings, Cathay Pacific Airways Ltd, Air Transport Services Group Inc., Air Charter Service, Garuda Indonesia, ACC Aviation Ltd, Jet edge International, Air Partner, Thai Airways International Public Co., Ltd., Cargo Air Chartering, C R V Air Services, AFM Logistics Pvt Ltd, Shiprocket, Kerryindev Logistics Pvt Ltd, Schenker International (H.K.) Limited, Japan Airlines Co Ltd, Nippon Express, JHJ International Transportation Co Ltd, SINO Shipping, PDS International Pvt Ltd, Air China Cargo Co Ltd, SNCF Voyageurs, Air France-KLM Group, DPDgroup, Air France, CEVA Logistics, Geodis Freight & Logistics Services, RATP Dev, Transdev Group, Haulystic Ltd, Expeditors, Alinnza Trading London Ltd, Barrington Freight Ltd, Kite Freight Services, RWorld Express, Cool Cargo UK, United Aircraft Corporation (UAC), FedEx Corporation, United Parcel Service, A.P. Moller - Mærsk A/S, Stratos Jet Charters Inc, Cainiao Smart Logistics Network Limited, Air Cargo Charter Company, Bu Shames FZE, Iraq Gate Company, MATEEN Express, Fridenson Logistic Services Ltd, Challenge Airlines (IL) Ltd, South African Airways Cargo, Ethiopian Airlines Cargo
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Largest And Fastest Growing Region In The Market
North America was the largest region in the freight chartered air transport services market in 2023. Asia-Pacific was the second largest region in the global freight chartered air transport services market. The regions covered in the freight chartered air transport 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. Freight Chartered Air Transport Market Report Structure
3. Freight Chartered Air Transport Market Trends And Strategies
4. Freight Chartered Air Transport Market - Macro Economic Scenario
5. Freight Chartered Air Transport Market Size And Growth
…..
27. Freight Chartered 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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