Air Freight Services Market by End-users and Geography - Forecast and Analysis 2020-2024

  • Published: Nov 2019
  • Pages: 157
  • SKU: IRTNTR40054

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The global air freight services market size has the potential to grow by USD 48.96 billion during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by end-user (manufacturing, retail, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including C.H. Robinson Worldwide Inc., CEVA Logistics AG, Deutsche Bahn AG, Deutsche Post AG, DSV AS, Expeditors International of Washington Inc., FedEx Corp., Kuehne + Nagel International AG, Nippon Express Co. Ltd., and United Parcel Service Inc.

Market Overview

Air-Freight-Services-Market-Size

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Market Competitive Analysis

The air freight services market is fragmented, and the degree of fragmentation will decrease during the forecast period. C.H. Robinson Worldwide Inc., Kuehne + Nagel International AG, and Nippon Express Co. Ltd. are a few of the significant market participants. Although the growth of aviation infrastructure will offer immense business opportunities, the shifting preference toward other modes of transportation will challenge the growth of the vendors. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market positions, this air freight services market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of the companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. This air freight services market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading air freight services companies, including:

  • C.H. Robinson Worldwide, Inc.
  • CEVA Logistics AG
  • Deutsche Bahn AG
  • Deutsche Post AG
  • DSV AS
  • Expeditors International of Washington Inc.
  • FedEx Corp.
  • Kuehne + Nagel International AG
  • Nippon Express Co. Ltd.
  • United Parcel Service, Inc.   

Air Freight Services Market: Segmentation by Region

Air-Freight-Services-Market-Share-by-Region

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APAC was the largest market for air freight services in 2019 and the region will offer several growth opportunities to market vendors during the forecast period. The significant growth of the e-commerce industry in countries such as China, India, and Japan is primarily contributing to global air freight services market growth. The promising growth potential of e-commerce logistics in APAC will improve revenue generation opportunities for air freight services providers in APAC.

Almost 44% of the overall market growth will originate from APAC during the forecast period. Other significant factors contributing to the air freight services market growth in APAC are the increasing infrastructural development activities and investments in the modernization of airports in countries such as India, Singapore, Australia, and the Philippines. China and Japan are the key markets for air freight services in the region. The market growth in APAC will be faster than that of other geographies.

Air Freight Services Market: Segmentation by End-users

Air-Freight-Services-Market-Share-by-end-users

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The manufacturing industry operates in short order times. Therefore, the players of the industry require efficient logistics services such as air freight services. Moreover, electronics and textiles manufacturers use air freight to replenish inventories if demand is greater than expected. These factors are contributing to air freight services market growth.

Over the forecast period, the growth of the market in the manufacturing segment will be faster than the other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the air freight services market size.

Air Freight Services Market: Key Drivers and Trends

E-commerce companies and mail and courier service providers prefer air freight over land or rail transportation. Moreover, the increase in cross-border e-commerce activities in the last few years has increased the demand for adequate infrastructure for cargo-ferrying airlines. This factor has created revenue-generating opportunities for airport authorities. As a result, many governments and airport authorities are significantly investing in expanding cargo handling capacities in the existing airports. Furthermore, major air freight operators are focusing on procuring new aircraft because of the significant market growth. Improving commercial aviating infrastructure is expected to boost business opportunities for market vendors.

  • The increasing conversion of passenger aircraft into cargo aircraft is one of the significant air freight services market trends.
  • Vendors are focusing on significant fleet expansions to meet the rising transport needs from the e-commerce sector.
  • Additionally, the market is also recording passenger-to-freighter (PTF) conversion process among flight operators, OEMs, and air freight service providers.
  • Moreover, vendors are also digitalizing airfreight services to improve efficiency.
  • As a result of such factors, the air freight services market will register a CAGR of almost 4% during 2020-2024.

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Air Freight Services Market: Key Highlights of the Report for the Forecast Period 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will accelerate the growth of the air freight services market during the next five years
  • Precise estimation of the global air freight services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the air freight services industry in APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of air freight services vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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