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.

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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
• • Belly Cargo
  • Freighter
• 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