NEW
YORK, June 25, 2024 /PRNewswire/ -- The
global air cargo market size is estimated to grow by
USD 63.5 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of almost 5.91% during the forecast period. The air
cargo industry is soaring thanks to a surge in e-commerce and
express deliveries. This demand is fueling market growth, prompting
carriers and logistics companies to expand their fleets and
capacities. However, rising jet fuel prices pose a significant
challenge.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
E-commerce Takes Flight
The e-commerce boom is a major tailwind for air cargo. Consumers
are increasingly shopping online, demanding fast and reliable
deliveries. Companies like FedEx and UPS are capitalizing on this
trend by offering speedy shipping solutions.
Temperature-Sensitive Cargo Heats Up
There's a growing need for airlifting temperature-sensitive
products, particularly pharmaceuticals. To address this challenge,
IATA established a certification program (CEIV Pharma) that ensures
proper handling of such goods. This is expected to further propel
the air cargo market.
Capacity Crunch Creates Turbulence
While demand for air cargo space is on the rise, supply isn't
keeping pace. This capacity shortage is pushing up prices for
shippers. Balancing growth with rising fuel costs will be a key
challenge for air cargo companies.
Technology Takes Control
The air cargo industry is embracing digitalization and
automation to streamline operations and boost efficiency. This
includes using centralized and decentralized models for cargo handling, with hubs
like Schiphol and Dubai playing a major role.
Looking Ahead: A Bumpy Ride
The air cargo market is poised for continued growth, driven by
the global economy and consumer demand. However, rising fuel costs
and potential capacity constraints could create turbulence.
Companies that can navigate these challenges and leverage
technology for efficiency will be best positioned for success.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Manufacturing
- FMCG And Retail
- Pharmaceuticals And Chemicals
- Other Industries
- Type
-
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio