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Air Cargo Market Size
- Report ID: GMI5900
- Published Date: Oct 2024
- Report Format: PDF
Air Cargo Market Size
The global air cargo market was valued at USD 185.3 billion in 2023 and is projected to grow at a CAGR of 4.3% between 2024 and 2032. The surge in e-commerce has dramatically transformed the market by increasing the volume of goods shipped globally.
As consumers increasingly turn to online shopping for convenience, retailers are compelled to offer faster delivery options to remain competitive. This demand for quick shipping has led businesses to prioritize air freight, which provides the speed and efficiency needed to meet customer expectations. Furthermore, the rise of same-day and next-day delivery services has intensified the reliance on air cargo, especially for high-value and time-sensitive items. Major logistics providers are investing heavily in their air transport capabilities to support e-commerce growth, creating dedicated networks for expedited shipping. Consequently, this driver is reshaping logistics strategies and positioning air cargo as a vital component of modern supply chains.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Air Cargo Market Size in 2023: | USD 185.3 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 4.3% |
| 2032 Value Projection: | USD 288.8 Billion |
| Historical Data for: | 2021 – 2023 |
| No. of Pages: | 180 |
| Tables, Charts & Figures: | 200 |
| Segments covered: | Service, Shipment, End Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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According to International Air Transport Association (IATA), in December 2023, global air cargo traffic grew by 10.3% year-on-year. This highlights the trajectory of market growth rate.
Further, the expansion of global trade has been a significant driver of the air cargo market, fueled by the increasing interconnectivity of economies and the establishment of free trade agreements. As businesses seek to access new markets and expand their reach, the demand for air transportation of goods has surged, particularly for high-value and low-volume products. Air cargo enables faster transit times compared to other modes of transport, facilitating timely delivery and enhancing supply chain efficiency. Additionally, the growing participation of emerging economies in global trade further boosts air freight volumes, as these countries often rely on air transport to export goods quickly. This interconnectedness underscores the critical role of air cargo in supporting international commerce.
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Air Cargo Market Scope
