Global air freight market expected to grow to USD 194.04 billion by 2033

From GlobeNewswire: 2024-09-02 14:00:00

The Global Air Freight Market is projected to grow from USD 74.12 billion in 2023 to USD 194.04 billion by 2033, with a CAGR of 10.10%. Air transport services are crucial for fast global shipments, especially for high-value and time-sensitive items. The market is expanding due to rising trade, e-commerce, and technological advancements.

The international air freight segment is expected to hold the largest market share, driven by demand for airport-to-airport services known for their cost-effectiveness and efficiency. North America is projected to dominate the market due to economic activity and developed infrastructure. Asia Pacific is forecasted to have the highest CAGR growth in the air freight market.

Key vendors in the global air freight market include Agility Logistics, DHL, Expeditors International, and UPS. Recent developments include Etihad Cargo partnering with Worldwide Flight Services to provide cargo handling services at international airports. The market is segmented by type (domestic and international air freight), end-user (airport-to-airport and door-to-door services), and region (North America, Europe, Asia Pacific, etc.).

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