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What CAGR And Valuation Are Anticipated For The Air Cargo Services Market?

The market size of air cargo services has considerably expanded in the past few years. The market will increase from $77.06 billion in 2024 to a staggering $81.83 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.2%. This growth rate during the historic period resulted from factors like the globalization of trade, the need for time-critical deliveries, the influence of manufacturing supply chains, involvement of automotive and electronics industries, and the transportation of oil and gas equipment.

In the coming years, the air cargo services market is anticipated to witness substantial growth. The market is projected to reach $107.14 billion by 2029, with a compound annual growth rate (CAGR) of 7.0%. The expansion during the forecast period can be ascribed to factors such as changing trade partnerships, pharma cold chain logistics, amendments in customs and regulations, transport of energy transition equipment, and space cargo exploration. The main trends expected to dominate the forecast period encompass intelligent cargo tracking solutions, AI and predictive analysis, digitisation of cargo handling, cooperation in air cargo partnerships, and the use of unmanned aerial vehicles (UAVs) for cargo delivery.

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What External And Internal Drivers Are Influencing The Air Cargo Services Market?

The air cargo services market is poised to benefit from the expansion of the automotive industry. This industry comprises various businesses and institutions that are involved in the conceptualization, creation, production, marketing, sale, repair, and customization of motor vehicles. Air cargo services are critical to the automotive industry as they ensure the punctual delivery of essential parts and components, prevent production lags, and aid in maintaining efficient manufacturing timelines. For example, a report by the International Trade Administration, based in Canada, stated in November 2023 that the total value of domestic automobile production in Canada in 2022 rose to 64,565 from 54,892 in the previous year. Consequently, the expanding automotive industry is fueling the growth of the air cargo services market.

How Is The Air Cargo Services Market Organized By Different Segments?

The air cargo servicesmarket covered in this report is segmented –

1) By Type: Air Mail, Air Freight

2) By Service: Express, Regular

3) By Destination: Domestic, International

4) By End-User: Consumer Electronics, Retail, Third Party Logistics, Food And Beverages, Pharmaceuticals And Healthcare, Other End Users

Subsegments:

1) By Air Mail: Domestic Air Mail Services, International Air Mail Services, Express Air Mail Services

2) By Air Freight: Standard Air Freight Services, Expedited Air Freight Services, Heavy And Oversized Air Freight Services, Temperature-Controlled Air Freight Services, Charter Air Freight Services

What Current And Upcoming Trends Are Shaping The Air Cargo Services Market?

Leading companies in the air cargo services market are sharpening their competitive edge by emphasizing the introduction of logistics and delivery network cargo services. Such services encompass a broad spectrum of activities and solutions within the transportation and supply chain industry. They involve managing, transporting, and handling of goods, materials, and products as they transit through different stages of the supply chain, from production and storage to distribution and final delivery to the end-user or customer. As an example, in January 2023, Amazon Air, a US-based cargo airline, initiated its dedicated air cargo fleet, Amazon Air, in India. This move made it the first e-commerce company in India to establish its own air network. Amazon Air will leverage the cargo capacity of two Boeing 737-800 aircraft managed by Quikjet Cargo Airlines. Each Amazon Air aircraft is purposed to ship thousands of parcels daily, flying across Hyderabad, Bengaluru, Delhi, and Mumbai. Amazon Air aims to expedite the shipping of goods from Amazon’s fulfillment centers to final destinations.

Which Firms Are Making The Biggest Impact In The Air Cargo Services Market?

Major companies operating in the air cargo services market include Amazon.com Inc., UPS Airlines, United Parcel Service Inc., Deutsche Post AG, FedEx Corporation, United States Postal Service, American Airlines, Delta Airlines, United Airlines, Kuehne + Nagel International AG, The Emirates Group, International Consolidated Airlines Group SA, Qatar Airways Company QCSC, LATAM Airlines, Japan Airlines Co. Ltd., Cathay Pacific Airways Limited, Cargolux Airlines International SA, China Airlines Ltd., Cargill Incorporated, Aeromexico Cargo, Azul Airlines, Magma Aviation Limited, China Airlines Cargo, South African Airways Cargo, Thai Airways Cargo

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Which Region Dominates The Air Cargo Services Market Today?

Asia-Pacific was the largest region in the air cargo services market in 2024. North America was the second largest region in the air cargo services market. The regions covered in the air cargo services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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