This market research report presents a detailed segmentation of the global air cargo market by type (air mail and air freight) and by geography (the Americas, APAC, and EMEA). The leading vendors in this market are Cathay Pacific Cargo, Emirates, FedEx, Korean Air, and UPS.
Technavio’s market research analysts estimate the global air cargo market to grow at a CAGR of around 5% between 2016 and 2020. The air cargo market is directly correlated with global trade activities and with the revival of economic activity in the key global markets. A growing need for FMCG and OEM products, the increased number of online retail stores, increased demand for just-in-time manufacturing, and a rise in the number of freight forwarders are the main factors driving the growth of the market. APAC occupies 37% of the total market share, owing to the increasing demand for online retail stores, especially fashion stores, and growing demand for the just-in-time manufacturing of products.
The new market research report from Technavio provides a breakdown and analysis of the air cargo segments by technology.
“Due to the rising demand for air cargo services, many vendors have been compelled to develop dedicated cargo hubs. These dedicated cargo hubs are capable of handling the largest freighter types, have strong flight navigation systems, outstanding infrastructure, dedicated cargo and ground handling capabilities and lower landing, cargo handling, and warehousing costs. Developing cargo hubs helps vendors to handle and process more freight efficiently. One example of a successful facility is CargoCity Frankfurt. This hub has facilities to handle express freight, animals, food items, and hazardous materials. As these cargo hubs can be integrated with rail and road services, an increase in its construction will lead to the strong growth of this market over the next four years,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research
The air freight segment of the global air cargo market will be the largest market segment during the forecast period and is anticipated to bring in revenues of nearly USD 276 billion by the end of 2020. Factors such as rapid industrialization, construction of cargo hubs, and rapid growth of the e-commerce business model will drive the prospects for growth in this market segment.
The key vendors in the global air cargo market are Cathay Pacific Cargo, Emirates, FedEx, Korean Air, and UPS. The market is complex and highly fragmented as vendors operate in a variety of arrangements. Asset-based vendors like combination airlines, all-cargo airlines offering scheduled and chartered services, and integrated express carriers own and operate their equipment. Integrated express carriers currently dominate the market but all-cargo carriers are also expected to expand their roles in the future.
A more detailed analysis is available in the Technavio report, Global Air Cargo Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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