The global Air Cargo market is anticipated to grow at a considerable CAGR of 5.6% during the forecast period (2023-2030). According to IATA estimates, in December 2019, e-commerce represented up to 15% of air cargo volumes. This number is continuously growing, and the trend has accelerated during and after the COVID-19 pandemic. As per the IATA estimates 80% of cross-border e-commerce is transported by air. The growth of e-commerce in general and cross-border e-commerce is driving the air cargo market. The pandemic has shown a shift in consumer behavior, as well as the top products that consumers purchase. There has been a huge shift in online purchases for furniture and electronics, food and beverage, and other products, many of which are transported by air. Many airlines are now taking note and adapting to the e-commerce model to ensure longevity and diversify their revenue streams.
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For instance, in February 2021, Saudia Cargo signed a cargo agreement with one of the leading IT and logistics operators, Cainiao Network, the logistic arm of Alibaba Group to support e-commerce operations between China and Europe by operating five weekly flights from Hong Kong to Liege in Belgium with Riyadh city as a connection point. These flights form a sky bridge between Asia and Europe to cater to the high demand for e-commerce. Moreover, the e-commerce giants are focusing on air cargo to cater to their consumer’s demand for fast, and safe delivery of products. For instance, in January 2023, Amazon Air, the air cargo arm of the online retail giant Amazon, announced the launch of freight transportation services in India. To ship goods faster, Amazon Air has partnered with the Bangalore-based Quikjet Cargo Airlines, becoming the first e-commerce provider in India to join forces with a third-party carrier. Following the terms of the agreement, Amazon Air will utilize the cargo capacity of two Boeing 737-800 planes operated by an Indian airline to ship packages across Hyderabad (HYD), Bengaluru (BLR), Delhi (DEL), and Mumbai (BOM). The e-commerce company hopes that the dedicated cargo airline will enhance the company‘s air freight transportation network and contribute to faster e-commerce deliveries in the country.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Air Cargo Market Report Segment
By Type
- Belly Cargo
- Freighter
By End-user
- Manufacturing
- FMCG and Retail
- Pharmaceuticals and Chemicals
- Others
Global Air Cargo Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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