Air Cargo Market Research Report: Information by Type (Air Freight and Air Mail), Service (Express and Regular), Destination (Domestic and International), End User (Retail, Food & Beverages, Pharmaceutical and Healthcare, Consumer Electronics, Automotive and others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) – Forecast till 2025
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Market Highlights
The global market for air cargo is expected to grow at a significant rate during the forecast period owing to the growth of the e-commerce industry and import and export trade globally. Furthermore, increasing investments made by air cargo service providers in developing innovative solutions is also driving the market growth. For example, in 2018, Cathay Pacific Airways collaborated with Unilode Aviation Solutions and OnAsset Intelligence and completed the trial of Bluetooth low-energy (BLE) beacons in the Cathay Pacific Cargo Terminal in Hong Kong.
However, crude oil prices and high cost associated with the delivery are expected to hamper the growth of the market.
Based on region, the global air cargo market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
In 2018, the Asia-Pacific market dominated the global air cargo market. An in-depth analysis of the market in China, India, Japan, South Korea, and the rest of Asia-Pacific has been provided in this report. The market in China accounted for the majority share of the Asia-Pacific air cargo market in 2018. Presence of e-commerce giants such as Alibaba Group Holding Ltd is driving the market growth in the country. Furthermore, increasing investments made by e-commerce companies in express delivery companies is also expected to drive the market growth in the country. For example, in March 2019, Alibaba Group Holding Ltd purchased 14% stakes of STO Express Co Ltd, one of the largest express delivery companies based in China. Hence, the market the expected to grow in the country.
Major Developments
- In April 2019, FedEx signed a contract with the Minister of Transportation and Telecommunications and Bahrain Airport Company (BAC) to become a tenant of the Bahrain International Airport’s expanded freight complex and strengthen its position in the Middle East logistics industry.
- In July 2018, Korean Air expanded its operations in India by launching three freighter flights to Delhi, India.
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis, for leading market players; it also offers profiles on the key market players. The report assists in studying the target segments by providing views on the emerging and high-growth segments. The market data comprises a basic assessment of the competitive scenario and strategies in the global space electronics market, including high-growth regions and/or countries and the political and economic environment. The project report further provides historical market values and pricing and cost analysis.
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Key Players
The key players in the global air cargo market are FedEx (US), United Parcel Service of America, Inc. (US), DHL International GmbH (Germany), Cathay Pacific Airways Limited (Hong Kong), China Eastern Airlines Corporation Limited (China), Korean Air (South Korea), Cargolux (Luxembourg), Singapore Airlines (Singapore), The Emirates Group (UAE), Japan Airlines (Japan), Deutsche Lufthansa AG (Germany), All Nippon Airways Co., Ltd (Japan), International Consolidated Airlines Group, SA. (UK), Etihad Airways (UAE), and Qatar Airways (Qatar).
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