GLOBAL AIR FREIGHT MARKET
In terms of Value, the US is the current leader in the global air freight market due to strong demand for manufacturing exports and increased penetration of advanced technologies in the supply chain.
Global air freight market is dominated by major players – DHL, FedEx, UPS, DB Schenker, Kuehne + Nagel and DSV Panalpina occupied XX% of the market worth $XXB in 2021.
Air Cargo airlines such as Emirates SkyCargo and Qatar Airways Cargo’s freight services accounted for ~XX% of their overall revenue in 2021.
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Many Countries are lifting COVID regulations, Leading to the rise of passenger load factor to 2019 levels.
Vaccine deliveries and PPE shipments, typically carried by air, further contributed to the outperformance of air cargo and to the improvement in growth seen in December amid the spread of Omicron.
Facing the decline in air freight capacity during the pandemic, various air freight carriers have been trying to tackle the situation by employing several strategies such as transforming more chartered flights into freight forwarders.
Over 100+ airlines have transformed some of their passenger aircrafts to support cabin loaded cargo to fill the void in cargo demand post 2020.
MARKET DYNAMICS
The air freight market is being propelled by the growth in demand of pharmaceuticals as well as medical devices. Despite being a costlier mode of transportation the demand of perishables, as well as rising demand for JIT (Just in Time) production of goods created a massive demand for air freight services globally.
The evolving e-commerce has put pressure on sales channels for faster delivery and an optimum supply chain. This scenario brings opportunities for the third-party logistics and warehousing services to integrate with the air e-commerce channel.
Owing to the continued growth in online shopping, many third-party logistics (3PLs) are offering more multi-modal services, which include air cargo service as a critical mode of transportation.
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EasyMile, a software company that automates current vehicles, and Menzies Aviation, a cargo handling company, have agreed to collaborate on a test programme in which a robot tractor with a cart will transport merchandise between an airside warehouse and a parked freighter.
The airport authority isn’t directly participating in the initiative, but it acted as a facilitator when Menzies expressed interest since it has made a concerted effort to leverage technology to address societal disruptions such as electric transportation, driverless vehicles, and climate change.
EasyMile and DFW had a prior partnership dating back to when the two companies tested an autonomous bus in a secluded parking area a few years ago.The technology isn’t yet at the point where you can issue an RFP, acquire it, and have it work.
GLOBAL AIR FREIGHT MARKET SIZE AND FORECAST
The Global Air Freight Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
COMPANY PROFILE
- China Airlines Cargo
- FedEx Logistics
- Kuehne + Nagel
- DB Schenker
- DSV Panalpina
- Expeditors International
- UPS Airlines
- Cathay Pacific Cargo
- DHL Aviation
- Korean Air Caro
- Cargolux
- Lufthansa Cargo
- Singapore Airlines Cargo
- Emirates Sky Cargo
- Japan Airlines Co. Ltd.
- All Nippon Airways Co. Ltd. (ANA)
- CEVA Logistics
- International Consolidated Airlines Group SA
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THIS REPORT WILL ANSWER FOLLOWING QUESTIONS
- What is the average cost per Global Air Freight Market right now and how will it change in next 5-6 years?
- Average cost to set up Air Freight Market in US, Europe and China?
- How many Global Air Freight Market are manufactured per annum globally? Who are the sub-component suppliers in different regions?
- What is happening in the overall public, globally?
- Cost breakup of a Global Air Freight Market and key vendor selection criteria
- Where is the Global Air Freight Market manufactured? What is the average margin per equipment?
- Market share of Global Air Freight Market manufacturers and their upcoming products
- The most important planned Global Air Freight Market in next 2 years
- Details on network of major Global Air Freight Market and pricing plans
- Cost advantage for OEMs who manufacture Global Air Freight Market in-house
- 5 key predictions for next 5 years in Global Air Freight Market
- Average B-2-B Global Air Freight Market price in all segments
- Latest trends in Global Air Freight Market , by every market segment
- The market size (both volume and value) of Global Air Freight Market in 2022-2027 and every year in between?
- Global production breakup of Global Air Freight Market , by suppliers and their OEM relationship
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