Air Freight Market to Reach $376.8 Bn, Globally, by 2027 at 5.6% CAGR: Allied Market Research

Faster shipment delivery in comparison to other solutions and rise in prominence of consolidated air freight services fuel the growth of the global air freight market

News provided by

Allied Market Research

Mar 29, 2021, 09:00 ET

PORTLAND, Ore., March 29, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Air Freight Market by Service (Freight, Express, Mail, and Other Services), Destination (Domestic and International), and End-Use (Private and Commercial): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global air freight industry generated $270.2 billion in 2019, and is estimated to garner $376.8 billion by 2027, registering a CAGR of 5.6% from 2020 to 2027.

Drivers, restraints, and opportunities

Rapid delivery of shipments in comparison to other logistics solutions and increase in popularity of consolidated air freight service drive the growth of the global air freight market. However, high costs associated with air freight solutions and stringent regulations hinder the market growth. On the other hand, significant growth of the e-commerce sector and technological advancements present new opportunities in the coming years.

Download Report (279 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/6786

Covid-19 Scenario

The strict lockdown imposed by governments impacted the air freight delivery services as local and international airways were banned in many countries.
There have been a significant decline in air freight capacity, so different air freight carriers have been striving to make the best of the situation by implementing several strategies including airplane transformations and chartered flights.
Though there have been long delays in air freight delivery services during the initial stages of lockdown, the services would resume as air travel and flight schedules get back on track.

Request for Customization of this report at https://www.alliedmarketresearch.com/request-for-customization/6786

The freight segment to maintain its lead position throughout the forecast period

Based on service, the freight segment contributed to the highest market share in 2019, accounting for around three-fourths of the global air freight market, and is projected to maintain its lead position throughout the forecast period. This is due to demand for faster delivery of industrial raw and finished goods across several industrial verticals across the globe. However, the express segment is estimated to witness the highest CAGR of 7.2% from 2020 to 2027, owing to fast deliveries (2-3 days) of goods offered by these services worldwide.

The commercial segment to maintain its leadership status during the forecast period

Based on end use, the commercial segment held the highest market share, contributing to nearly 90% of the global air freight market in 2019, and will maintain its leadership status during the forecast period. This is due to utilization in transportation of a wide range of goods across domestic and international locations. However, the private segment is expected to portray the largest CAGR of 8.8% from 2020 to 2027. This is attributed to demand for shipping parcels along with perishable and fragile items via charter cargo flights.

Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/6786

Asia-Pacific, followed by North America, continues its dominant share in terms of revenue by 2027

Based on region, Asia-Pacific, followed by North America, contributed to the highest share in 2019, holding nearly two-fifths of the global air freight market, and will continue its dominant share in terms of revenue by 2027. Moreover, this region is projected to maintain the fastest CAGR of 6.3% during the forecast period. This is attributed to rise in import-export activities across prominent countries such as China, India, Japan, South Korea, Australia, among others.

Leading market players

Bolloré Logistics
DB SCHENKER
Deutsche Post AG
DSV Panalpina
Expeditors International of Washington, Inc.
FedEx
Hellmann Worldwide Logistics
Kuehne+Nagel International AG
Nippon Express
United Parcel Service, Inc.

Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business at https://www.alliedmarketresearch.com/connect-to-analyst/6786

Similar Reports We Have on Freight & Logistics Industry:

Logistics Market by Mode of Transport (Railways, Airways, Roadways, and Waterways) and End Use (Healthcare, Manufacturing, Aerospace, Telecommunication, Government & Public Utilities, Banking & Financial Services, Retail, Media & Entertainment, Technology, Trade & Transportation, and Others): Global Opportunity Analysis and Industry Forecast, 2017–2030.

Cold Chain Logistics Market by End Use Industry (Fruits & Vegetables, Bakery & Confectionary, Dairy & Frozen Desserts, Meat, Fish & Sea Food, Drugs & Pharmaceuticals, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2030.

Reverse Logistics Market by Return Type (Recalls, Commercial Returns, Repairable Returns, End-of-use Returns, and End-of-life Returns) and End User (E-commerce, Automotive, Pharmaceutical, Consumer Electronic, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2030.

Chemical Logistics Market by Mode of Transportation (Roadways, Railways, Airways, Waterways, and Pipelines), Services (Transportation & Distribution, Storage & Warehousing, Customs & Security, Green Logistics, Consulting & Management Services, and Others), and End Use Industry (Chemical Industry, Pharmaceutical Industry, Cosmetics Industry, Oil & Gas Industry, Specialty Chemicals Industry, Food, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.

FMCG Logistics Market by Product Type (Food & Beverages, Personal Care, Household Care and Other Consumables) and Service Type (Transportation, Warehousing and Value Added Services): Global Opportunity Analysis and Industry Forecast, 2020–2030.

Freight Forwarding Market by Service (Packaging, Documentation, Transportation & warehousing and VAS (Value-added services) - Global Opportunity Analysis and Industry Forecast 2017-2030.

Freight Brokerage Market by Transportation (Roadway, Seaway, Airway and Railway), Industry (Food & Beverages, Automotive, Retail & E-commerce, Healthcare, Manufacturing and Other (Aerospace &Defense)) and Services (LTL, FTL and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.

B2B Freight Transportation Market by Solution (Freight Transportation Cost Management, Freight Security & Monitoring System, Freight Mobility Solution, Warehouse Management System and Freight 3PL Solutions), Deployment (Cloud and On-premise), Mode of Transport (Rail Freight, Road Freight, Waterborne Freight and Air Freight) and End-User (Aerospace & Defense, Automotive, Oil & Gas, Consumer & Retail and Energy & Power): Global Opportunity Analysis and Industry Forecast, 2021–2030.

About Allied Market Research

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, and researchers and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn |