The global Air Freight Services market reached a value of about 56 million tons in 2021. The industry is projected to grow at a CAGR of around 12% in the forecast period of 2022-2027 to reach a value of about 137.5 MMT by 2027.
The global Air Freight Services industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The market is expected to develop due to faster cargo delivery than alternative logistics solutions and the growing popularity of consolidated airfreight services. The key demand indicator is the highest category spender in the industry report by region—North America.
Airfreight is the sum paid for the shipment of goods by air as they are moved from one location to another. As a result, air freight refers to the costs of air transportation. The transfer and transportation of products by an air carrier, whether charter or commercial, is known as air freight package delivery. Shipments of this nature depart from commercial and passenger aviation hubs and proceed to any location where planes mayfly and land. Airfreight, like commercial or passenger airlines, uses the same airports. The Air Freight Services industry report comprises segments by region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).
The North American region carries a substantial stake in the market. Because market fluctuations are modest and substantial volumes, carriers and freight forwarders are eager to bargain on established US–EU lines.
The market is being driven by the growing reliance of the global economy on the capacity to carry valuable and superior quality items quickly to customers all over the globe. Airfreight is critical in ensuring the safe delivery of temperature-sensitive drugs using cutting-edge methods and technology. Vaccinations are typically supplied through aeroplanes due to the high delivery rates and temperature-sensitive areas in aircraft. This helps vaccines reach their needed location in time to be effective. It is a highly lucrative form of transportation for jewels, perishable goods, medications, high-value electronics, and other products. Furthermore, air freight is the safest means of transport since items delivered by air undergo the least amount of handling, and airport safety standards are tightly enforced. Consolidated airfreight service provides consumers with a cost-effective mode of transportation with lower prices and consistent timetables, allowing them to manage their supply chains flawlessly, resulting in market growth.
However, the high prices associated with air freight solutions are likely to act as a market restraint.
The global Air Freight Services industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Air Freight Services regions, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
The procedure is simple, from pickup to delivery. The logistics provider will schedule a pickup at the warehouse or holding facility with a local carrier. The carrier will convey the package to the airport, where it will be loaded into a plane. After it has been loaded, the carrier will arrange for collection and delivery when the cargo arrives at the destination airport.
The technological advancements in the sector are propelling the industry. The growing use of cool-chain technology, robots, automated systems, artificial intelligence (AI), Big Data, deep learning, IoT, and augmented & virtual reality across various processes will propel the global air freight market forward. In addition, the rising trend of online shopping boosts demand for package delivery services throughout the world; e-commerce is predicted to be the leading growth factor for the air freight business. The growing use of air freight for e-commerce shipments across the globe is expected to boost the industry's expansion. Express services are rapidly expanding as more people turn to e-commerce, desiring faster product delivery and are willing to pay a premium.
The regional markets for the industry can be divided into Europe, the Asia Pacific, North America, South America, and the Middle East and Africa.
The air freight sector is somewhat fragmented, and some of the largest firms in the industry operate in different areas throughout the world. Air cargo service companies face new hurdles as demand for air freight transportation services grows. Airlines must focus on developing fuel-efficient solutions and accommodating emerging technology to deliver cost-effective services. Companies have invested in digital capabilities with their e-booking and now wish to make their bookings available to others via the Application Programming Interface so that the inventory in the systems may be accessed.
1. Executive Summary
2. Global Air Freight Services Market Snapshot
2.1. Air Freight Services Market Outlook
2.2. Regional Overview
2.2.1. North America
2.2.3. Asia Pacific
2.2.4. Latin America
3. Impact of Recent Events
4. Air Freight Services Value Chain Analysis
5. Major Risk Factors in Sourcing
6. Air Freight Services Price Analysis
7. Key Demand Indicator Analysis
8. Key Price Indicator Analysis
9. Air Freight Services Market Dynamics
9.1. Drivers & Constraints
9.2. Industry Events
9.3. Innovations & Trends
9.4. SWOT Analysis
9.5. Porter’s Five Forces
9.5.1. Buyer Power
9.5.2. Supplier Power
9.5.3. Threat of New entrants
9.5.4. Threat of Substitutes
9.5.5. Industry Rivalry
10. Industry Best Practices
10.1. Sourcing strategy
10.2. Procurement Model
10.3. Contract Structure
10.4. Negotiation Levers
10.5. Pricing Model
10.6. Key Factors Influencing the Quotation
11. Key Supplier Analysis
11.1. DHL Express
11.2. FedEx Corporation
11.3. Emirates SkyCargo
11.4. UPS Parcel Service
11.5. Cathay Pacific Cargo
The global Air Freight Services market size was valued at 56 million tons in 2021.
The significant demand for express shipment for time-sensitive packages is one of the essential drivers of the Air Freight Services market growth.
Deutsche Post AG, Panalpina World Transport (Holding) Ltd., Expeditors International of Washington, Inc. (NASDAQ: EXPD), Kintetsu World Express (I) Pvt. Ltd., CEVA Logistics, and DB Schenker are some of the leading companies in the market.
The North American region of the Air Freight Services industry holds a significant share in the market.
The global Air Freight Services market attained a value of USD yy billion in 2021, driven by the growing reliance of the global economy on the capacity to carry valuable and superior quality items quickly to customers all over the globe. The ever-increasing demand for safe delivery of temperature-sensitive drugs, jewels, high-value electronics, and other products is furthering the industry's expansion. Aided by technological advancements like cool-chain technology, robots, automated systems, artificial intelligence (AI), Big Data, deep learning, IoT, and augmented & virtual reality across a variety of processes, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 12%. The market is projected to reach 137.5 MMT by 2027. Some of the key players in the industry are Deutsche Post AG, Panalpina World Transport (Holding) Ltd., Expeditors International of Washington, Inc. (NASDAQ: EXPD), Kintetsu World Express (I) Pvt. Ltd., CEVA Logistics, and DB Schenker.
Procurement Resources' detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses cutting-edge analytical tools and their expertise, thus, delivering its customers with market insights that are accurate, actionable and help them remain ahead of their competition.
At Procurement Resource our analysts are selected after they are assessed thoroughly on having required qualities so that they can work effectively and productively and are able to execute projects based on the expectations shared by our clients. Our team is hence, technically exceptional, strategic, pragmatic, well experienced and competent.
We understand the cruciality of high-quality assessments that are important for our clients to take timely decisions and plan strategically. We have been continuously upgrading our tools and resources over the past years to become useful partners for our clientele. Our research methods are supported by most recent technology, our trusted and verified databases that are modified as per the needs help us serve our clients effectively every time and puts them ahead of their competitors.
Our team provides a detailed, high quality and deeply researched evaluations in competitive prices, that are unmatchable, and demonstrates our understanding of our client’s resource composition. These reports support our clientele make important procurement and supply chains choices that further helps them to place themselves ahead of their counterparts. We also offer attractive discounts or rebates on our forth coming reports.
Our vision is to enable our clients with superior quality market assessment and actionable evaluations to assist them with taking timely and right decisions. We are always ready to deliver our clients with maximum results by delivering them with customised suggestions to meet their exact needs within the specified timeline and help them understand the market dynamics in a better way.
Email Delivery Price: $ 999.00
The global Artificial Intelligence market reached a value of about USD 192 Billion in 2021. The industry is projected to grow at a CAGR of around 23% in the forecast period of 2022-2027 to reach a value of about USD 664.86 Billion by 2027.Read More
Email Delivery Price: $ 999.00
The global nutmeg market reached a value of about 130 thousand tonnes in 2021. The industry is further expected to grow at a CAGR of about 6% in the forecast period of 2022-2027 to reach a value of around 180 thousand tonnes by 2027.Read More
Email Delivery Price: $ 999.00
The global HEOR market reached a value of about USD 1364.3 million in 2021. The industry is further expected to grow at a CAGR of about 12.81% in the forecast period of 2022-2027 to reach a value of around USD 2779.2 million by 2027.Read More