The global air freight market is anticipated to grow at a considerable CAGR of 5.6% during the forecast period (2024-2031). E-commerce has exploded in popularity over the last few years, it has gained strong traction across the globe to become a crucial part of the global sales structure and changed the way logistics is done. Air freight is ideal for providing quick deliveries. In 2019, the International Air Transport Association (IATA) predicted that eCommerce accounted for around 15.0% of all air freight volumes. This e-commerce tendency is continuing to grow and has accelerated during the COVID-19 pandemic.
Browse the full report description of “Air Freight Market Size, Share & Trends Analysis Report by Service (Freight, Express, Mail and Other Services), by Destination (Domestic and International), by Carrier Type (Belly Cargo and Freighter), and by End-user (Private andCommercial) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/air-freight-market
The explosive surge of e-commerce during the pandemic has rendered its future trajectory unpredictable. IATA reports that 80.0% of international e-commerce relies on air transport, significantly streamlining cross-border shopping with enhanced efficiency, security, and transparency. Projections anticipate a substantial expansion in the e-commerce sector, potentially soaring to a value of $4.4 trillion by 2026. As online retailing boosts demand for package delivery services worldwide, e-commerce is predicted to be the future growth engine for the air freight business. The growing use of air freight for e-commerce shipments worldwide is expected to boost the global air freight market's growth over the forecast period. Since 2005, worldwide internet retail trade has grown by around 20% a year on average, which is far rapid than conventional store-based sales. The International Post Corporation (IPC) considers that the share has now registered 25%. Besides the increasing domestic volumes shipped by small and large e-retailers, the swiftly-growing cross-border e-commerce remains a key growth driver for the overall increase in e-commerce sales.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Service
o By Destination
o By Carrier Type
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includesFedEx (Federal Express) Corp.,United Parcel Service Inc.,The Emirates Group,Cathay Pacific Airways Ltd, among others.
Key questions addressed by the report.
Global Air Freight Market Report Segment
By Service
By Destination
By Carrier Type
By End-User
Global Air Freight Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
To learn more about this report request a sample copy @ https://www.omrglobal.com/request-sample/air-freight-market