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Air Freight Industry Set to Achieve $72.69 Billion Milestone by 2029 | Steady 7.4% CAGR
Air Freight
What Is the Long-Term Growth Forecast for the Air Freight Market Size 2025?
In recent times, there has been a robust growth in the air freight market size. The market value is expected to increase from $51.13 billion in 2024 to $54.57 billion in 2025, showing a compound annual growth rate (CAGR) of 6.7%. Elements such as footwear personalization, biometric foot mapping, health and wellness integration, a connected footwear ecosystem, and fashion-tech integration have contributed to the growth experienced in the historical period.
What CAGR is Forecasted for the Air Freight Market Through 2029?
The market size of air freight is projected to witness substantial expansion in the upcoming years, reaching $72.69 billion by 2029 with a compound annual growth rate (CAGR) of 7.4%. The anticipated surge during this forecast period is credited to factors like adaptive learning algorithms, environmental sustainability, health monitoring and feedback, integration with smart assistants, and augmented reality (ar) retail experiences. The forecast period also highlights key trends such as material innovation, smart insole technology, collaborations and limited editions, dynamic style customization, adaptive and responsive design.
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What Are the Critical Factors Driving Air Freight Market Development?
The growth of the air freight market is seen to be driven by the rising need for swift-delivery services. These services belong to the realm of specialized logistical and transportation solutions, dedicated to guaranteeing prompt and efficient delivery of parcels, goods, or shipments from one place to the next. The standout characteristic of air freight is its unmatched speed, outperforming other transport methods such as land or sea travel. Companies can fulfill strict delivery timeframes and decrease the overall shipping duration, thanks to this swift transportation provision. When it comes to time-critical and high-value products like perishable items, drugs, and electronic devices, air freight is frequently the chosen transportation method. For example, ShippyPro, a software firm based in Italy, anticipates that 1.2 billion packages will be delivered in France and the UK by 2023, a figure set to rise to 1.9 billion parcels by 2027. Moreover, substantial growth is expected in the same-day delivery market, with the number of items delivered on the same day expected to rise from 70 million in 2022 to an estimated 260 to 521 million by 2027. Thus, the intensifying need for speedier delivery services is boosting the growth of the air freight market.
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How Does the Air Freight Market Break Down Across 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
Subsegments:
1) By Freight: General Cargo, Perishable Goods, Dangerous Goods, Other Freight
2) By Express: Time-sensitive Shipments, Door-To-door Services, Other Express Services
3) By Mail: Letters, Parcels, Other Mail Services
4) By Other Services: Charter Services, Customs Clearance, Warehousing And Distribution, Other Services
What Are the Major Trends Transforming the Air Freight Industry?
Leading companies in the air freight domain are concentrating on formulating unique technological advancements like ECU360 to maximize their market profits. ECU360 stands out as a ground-breaking digital air freight service intending to uncomplicate the shipping process for businesses of every scale. In an exemplary development in April 2023, ECU Worldwide, a logistics firm based in Belgium, introduced an innovative air freight service known as ECU360. It facilitates customers with a plethora of incorporated services which consists of getting an estimate, instant conversion of that quotation into an online booking, and observing their consignments in actual time. This technology efficiently organizes air freight and shipping routines, thereby enabling firms to facilitate their global merchandise export more easily. Upon the rollout of ECU360, ECU Worldwide is now able to offer a unique digital logistics platform that potentially equips the company with the capability to expand and intensify its influence in the logistics field.
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Which Players Are Driving Innovation in the Air Freight Market?
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.
Which Regions Are Driving Global Air Freight Market Expansion?
Asia-Pacific was the largest region in the air freight market in 2024. 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.
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