LONDON--(BUSINESS WIRE)--The global air cargo market is poised to grow by 16.75 million tons during 2020-2024, progressing at a CAGR of almost 5% during the forecast period. Request free sample pages
Read the 120-page report with TOC on "Air Cargo Market Analysis Report by End-users (Manufacturing, FMCG and retail, Pharmaceuticals and chemicals, and Other industries), Geography (APAC, Europe, MEA, North America and South America), and the Segment Forecasts, 2020-2024".
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The market is driven by the increase in e-commerce sales. In addition, the rise in the popularity of air cargo digitization is anticipated to boost the growth of the air cargo market.
The rise in the number of online shoppers, increasing internet penetration, and the proliferation of online sellers have resulted in the significant growth of global e-commerce sales. This is driving online sellers to increase the use of air cargo services to deliver products to customers on time. For instance, in December 2018, Amazon signed an agreement with Cargo Aircraft Management (CAM), a subsidiary of ATSG, to lease additional aircraft to ensure speedy deliveries to its customers. Therefore, the rise in global e-commerce sales is expected to fuel the growth of the global air cargo market during the forecast period.
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Major Five Air Cargo Market Companies:
Air France-KLM SA
Air France-KLM SA operates its business through segments such as Passenger network, Transavia, and Maintenance. The company offers air cargo services for a variety of FMCG products, machinery, and automotive components.
Cathay Pacific Airways Ltd.
Cathay Pacific Airways Ltd. operates its business through segments such as Passenger services, Cargo services, and Catering, recoveries and other services. The company offers air cargo services through its Cathay Pacific and Cathay Dragon businesses.
China Airlines Ltd.
China Airlines Ltd. operates its business through segments such as Air Transportation and Others. The company offers air cargo services for pharmaceutical products, food and beverages, documents, and other industrial machinery and components.
Delta Air Lines Inc.
Delta Air Lines Inc. operates its business through segments such as Airline and Refinery. The company offers air cargo services for standard and specialty freight.
Deutsche Lufthansa AG
Deutsche Lufthansa AG operates its business through segments such as Network Airlines, Eurowings, Logistics, MRO, and Others. The company provides air cargo services through its own freighter aircraft.
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Air Cargo Market End-users Outlook (Growth, Million Tons, 2020-2024)
- Manufacturing
- FMCG and retail
- Pharmaceuticals and chemicals
- Other industries
Air Cargo Market Geographic Outlook (Growth, Million Tons, 2020-2024)
- APAC
- Europe
- MEA
- North America
- South America
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Related Reports on Industrials Include:
Global Air Freight Services Market – Global air freight services market by geography (APAC, Europe, MEA, North America, and South America) and end-user (manufacturing, retail, and others).
Global Air Charter Services Market – Global air charter services market by application (charter passenger, charter freight, and others) and geography (North America, Europe, APAC, South America, and MEA).
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