The Air Cargo Market Report is Segmented by Service (Forwarding, Airlines, and Mail), Destination (Domestic and International), Carrier Type (Belly Cargo and Freighter), and Geography (Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America). The Report Offers Market Size and Forecasts for the Global Air Freight Market in Value (USD) for all the Above Segments.

According to Cognitive Market Research, the global Air Freight market size will be USD 68154.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 10.60% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 27261.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 20446.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.1% from 2024 to 2031.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 15675.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 3407.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1363.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.3% from 2024 to 2031.
The Freight held the highest Air Freight market revenue share in 2024.

Market Dynamics of Air Freight Market

Key Drivers for Air Freight Market

Consolidated Air Freight Service is Growing in Popularity to Propel Market Growth:

Air freight service businesses offer four different delivery options. There are four options: charter, standard, postponed, and consolidated. Consolidated air freight service offers users a cost-effective means of transportation with cheaper pricing and reliable timetables, allowing them to plan their supply chains perfectly. Clients who select the Consolidated air freight option can combine their shipment with a variety of other commodities to form a complete load. Consolidated air freight becomes an extremely cost-effective method of transporting goods by plane. Furthermore, consolidated shipments help transportation service providers and airlines since flying an airplane with a full cargo load is less expensive than flying an aircraft with a partial cargo load. Consolidated air freight is the most cost-effective means to move goods quickly and safely, and its growing popularity is expected to propel the worldwide market forward throughout the forecast period.

Shipments are Delivered Faster to Propel Market Growth:

Cargo planes are the fastest means of transportation for delivering commodities. While other modes of transportation, such as shipping, rail, and road transport, can take days or weeks to deliver items, air transport can do so in hours. Because there are more tiny items to unload than cargo ships, customs clearance is quick, and no local warehousing is required. Furthermore, air freight is the safest mode of transportation among the others because things delivered by air require less handling, and airport safety requirements are strictly followed. The risk of theft and harm to the package has decreased. Furthermore, due to the short period of the shipment, air freight insurance prices are usually low. Because of these considerations, air freight is an excellent and required mode of cargo transportation.

Restraint Factor for the Air Freight Market

High Price Associated with Air Freight Solution to Hinder Market Growth:

Weight and volume are the most important factors in calculating the cost of air freight transportation. Air carriers typically charge according to volumetric or actual weight, whichever is more expensive. Aside from that, air freight pricing is likely to include costs such as fuel surcharges, terminal handling taxes, security surcharges, and airport transfers. Furthermore, the price covers air cargo services such as cargo insurance, pickup and delivery, customs brokerage, and accessorial fees for door-to-door delivery. Furthermore, fluctuations in aviation fuel costs affect air freight operations. The high cost of air freight delivery is likely to limit worldwide market growth throughout the projection period.

TrendFactor for the Air Freight Market

Rising Adoption of Hybrid Air Freight Models for Cost Optimization and Speed:

A major trend reshaping the global air freight market is the increased adoption of hybrid air freight solutions—a strategic combination of con...

The United States Air Freight Market is Segmented by Service Type (Freight Transport (Cargo/CEP), Freight Forwarding and More), by Destination (Domestic and More), by Carrier Type (Belly Cargo and Freighter), by Cargo Type (General Cargo and Special Cargo), by End-User Industry (E-Commerce & Retail, Manufacturing & Automotive and More), by Region (Northeast, and More). The Market Forecasts are Provided in Terms of Value (USD).

According to Cognitive Market Research, the global Air cargo Market size will be USD 186241.5 million in 2025. It will expand at a compound annual growth rate (CAGR) of 5.00% from 2025 to 2033.

North America held the major market share for more than 40% of the global revenue with a market size of USD 74496.60 million in 2025 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 55872.45 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 42835.55 million in 2025 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2025 to 2033.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 9312.08 million in 2025 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2025 to 2033.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 3724.83 million in 2025 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2025 to 2033.
The belly cargo category led the Air cargo Market.

Market Dynamics of Air Cargo Market

Key Drivers for Air Cargo Market

Increasing Demand for Rapid and Time-Critical Deliveries: Air cargo has become the favored method for transporting high-value, perishable, and time-sensitive items such as electronics, pharmaceuticals, and fresh produce. The need for swift delivery across continents is on the rise, particularly from industries that require strict supply chain schedules and just-in-time inventory practices.

Surge in E-commerce and International Trade: The global boom in e-commerce has resulted in a notable rise in cross-border shipments. Retailers and logistics companies are utilizing air freight to guarantee prompt delivery and enhance customer satisfaction, especially for international orders and express parcel services in both B2C and B2B markets.

Expansion of Globalization and Supply Chain Networks: International manufacturing and trade systems depend on air cargo to transport raw materials, components, and finished goods quickly across different regions. Air freight plays a crucial role in supporting high-value supply chains in the automotive, aerospace, and medical sectors, contributing to consistent growth in international cargo volumes.

Key Restraints for Air Cargo Market

High Operating and Fuel Expenses: Air cargo is among the most costly freight alternatives due to significant fuel consumption, airport fees, and aircraft upkeep. These operational costs can render air freight impractical for bulk or low-margin products, confining its application to premium or urgent shipments only.

Capacity Limitations and Infrastructure Challenges: Airports and airlines frequently encounter cargo handling delays, restricted warehousing, and aircraft capacity constraints. During peak demand periods or disruptions, such as adverse weather conditions or geopolitical tensions, the availability of space becomes limited, diminishing service reliability and driving up prices.

Stringent Regulations and Security Protocols: The air cargo sector is governed by strict customs, safety, and documentation standards. Adhering to international aviation and security regulations prolongs processing times and increases costs, especially for hazardous materials, pharmaceuticals, and restricted items that necessitate special handling.

Key Trends for Air Cargo Market

Digitalization and Smart Cargo Tracking: The implementation of technologies such as IoT sensors, blockchain, and AI is transforming air cargo tracking and visibility. Real-time monitoring of shipments improves security, minimizes losses, and facilitates data-driven decision-making, rendering air freight more transparent and focused on customer needs.

Shift Toward Sustainable and Green Logistics: Air cargo companies are committing resources to carbon offset initiatives, fuel-efficient aircraft, and sustainable packaging solutions. Concerns regarding the environment and goals for emission reductions are propelling the creation of eco-friendly air freight options to meet global sustainability objectives.

Integration with Multimodal and Last-Mile Delivery Networks: To enhance efficiency and cost-effectiveness, air cargo is prog...

The market value of the air cargo industry worldwide is projected to amount to almost *** billion U.S. dollars in 2022, a year-on-year decrease of around **** percent. After three years of a downward trend, the air freight market is expected to recover and reach approximately ***** billion U.S. dollars by 2027.

The GCC Air Cargo Transport Market Report is Segmented by Services (Forwarding, Airlines, Mail, and Other Services), Destination (Domestic and International), and Country (Saudi Arabia, United Arab Emirates, Qatar, and the Rest of GCC). The Report Offers Market Size and Forecasts for the GCC Air Freight Transport Market in Value (USD) for all the Above Segments.

Air Cargo & Freight Logistics Market Outlook

The global air cargo and freight logistics market size reached approximately USD 270 billion in 2023 and is projected to expand to nearly USD 415 billion by 2032, registering a CAGR of around 4.8% during the forecast period. A critical growth factor for this market is the increasing globalization and the ever-growing demand for efficient transportation solutions to facilitate international trade. As businesses continue to expand their operations globally, the need for reliable, fast, and secure logistics solutions becomes paramount, bolstering the demand within the air cargo and freight logistics domain.

One of the primary drivers of growth in the air cargo and freight logistics market is the rise in e-commerce activities, which necessitates quick and efficient delivery solutions. The market is witnessing significant shifts as consumer behavior leans toward online shopping, spurred by the convenience and broader selection it offers. This surge in demand for e-commerce logistics is pushing companies to adopt air freight solutions to meet delivery timeframes and customer expectations. Additionally, technological advancements in tracking and inventory management systems provide enhanced visibility and control over shipments, contributing to the market's growth.

Moreover, the air cargo and freight logistics market is benefiting from the increasing demand for perishable goods transportation, which relies heavily on air freight services due to the time-sensitive nature of these products. The expansion of pharmaceutical logistics, necessitating the transportation of temperature-sensitive medicines, is another contributing factor. The sector's ability to ensure quick transit times and adherence to stringent compliance standards makes it a preferred choice for transporting high-value and perishable goods. Additionally, improvements in cargo handling processes and infrastructure are enabling smoother operations, supporting market expansion.

Furthermore, the integration of technology into logistics, such as the use of IoT for real-time monitoring and AI for predictive analysis, is revolutionizing the air cargo and freight logistics landscape. Automation in cargo handling, as well as the deployment of machine learning algorithms to optimize route efficiency and reduce operational costs, are attracting significant attention. These advancements not only enhance operational efficiency but also improve customer experiences by offering more precise delivery windows and better communication throughout the shipping process.

The Aircraft Freight System plays a pivotal role in enhancing the efficiency and reliability of air cargo operations. By integrating advanced technologies and streamlined processes, this system ensures that cargo is transported safely and swiftly across global networks. The development of specialized aircraft designed for freight purposes has significantly improved load capacities and reduced transit times, making air freight a preferred choice for high-value and time-sensitive shipments. As the demand for rapid logistics solutions grows, the Aircraft Freight System continues to evolve, incorporating innovations such as automated loading mechanisms and real-time tracking capabilities. These advancements not only optimize the use of aircraft space but also enhance the overall customer experience by providing greater transparency and reliability in cargo deliveries.

The regional outlook for the air cargo and freight logistics market indicates significant variations, with Asia Pacific emerging as a dominant region due to rapid industrialization and robust export activities. The presence of major manufacturing hubs in countries like China, Japan, and South Korea fuels the demand for efficient logistics solutions, propelling market growth. North America, with its advanced infrastructure and high adoption of technological innovations, remains a significant player in the market. Meanwhile, Europe is witnessing stable growth supported by its well-established logistics networks and regulatory frameworks. The Middle East & Africa and Latin America are also poised for growth, driven by burgeoning trade activities and infrastructure investments.

Freight Transportation Analysis

Freight transportation is a core segment of the air cargo and freight logistics market, encompassing the movement of goods through air, sea, road, and rail. The air freight segment, known for its speed and reliab

The global air freight market reached a volume of nearly 109.67 MMT in 2024 due to the surge in demand for commercial aircraft. The market is expected to grow at a CAGR of 12.00% during the forecast period of 2025-2034 to attain a volume of 340.62 MMT by 2034. The air freight market is an important part of the global supply chain, as it is an efficient and rapid way to transport goods. Freight forwarders cooperate closely with cargo handling agents and customs brokers for seamless shipment of products. Commercial aviation is important for moving perishable goods, which need to be delivered timely. The air freight industry is undergoing transformation in response to mounting demand for faster shipping times, flights guaranteeing reliability, efficiency and real-time tracking. In this highly competitive marketplace, many businesses rely on freight forwarders and cargo handling agents to help them coordinate and optimize logistics.

The global air cargo market, valued at $190.95 billion in 2025, is projected to experience robust growth, driven by the expanding e-commerce sector, increasing globalization, and the rising demand for faster and more reliable delivery of time-sensitive goods, particularly in the pharmaceutical and technology sectors. The 5.91% CAGR indicates a significant expansion over the forecast period (2025-2033). Key growth drivers include the continuous improvement of air freight infrastructure, technological advancements in logistics and tracking, and the strategic partnerships between airlines and logistics providers. While the market faces potential restraints like fuel price volatility and geopolitical uncertainties, the overall trend points towards a positive outlook. The segmentation of the market by end-user (manufacturing, FMCG & retail, pharmaceuticals & chemicals, other industries) and type (belly cargo, freighter) provides valuable insights into specific market dynamics. The dominance of major players like FedEx, DHL, and other prominent airlines underscores the competitive landscape. Regional variations in market share are expected, with North America and Asia-Pacific likely maintaining a significant lead due to their established e-commerce infrastructure and manufacturing hubs. The growth of dedicated freighter aircraft fleets is further boosting market capacity. The competitive landscape is characterized by a mix of established global players and regional carriers. Strategic alliances, acquisitions, and technological investments are common strategies employed by companies to gain market share and improve operational efficiency. However, companies face challenges such as maintaining consistent service quality, managing fluctuating fuel costs, and navigating complex regulatory environments. The increasing focus on sustainability and carbon emissions reduction within the aviation industry will also shape the future of the air cargo market, influencing investments in fuel-efficient aircraft and sustainable practices. The market's growth trajectory is therefore contingent upon successfully adapting to these evolving dynamics.

The global air freight and cargo market is experiencing robust growth, driven by the expansion of e-commerce, the increasing need for faster delivery times across international borders, and the globalization of supply chains. The market's compound annual growth rate (CAGR) is estimated at 5% between 2025 and 2033, building upon a 2025 market size of approximately $650 billion. This growth is fueled by several key trends including the rise of specialized air cargo carriers, the adoption of advanced technologies like blockchain for improved transparency and traceability, and the increasing focus on sustainable aviation fuels to reduce environmental impact. However, the market faces challenges such as fluctuating fuel prices, geopolitical uncertainties impacting trade routes, and capacity constraints within the air cargo infrastructure. The industry's segmentation into express delivery, general cargo, and specialized cargo (like pharmaceuticals and perishables) reflects the diverse needs of shippers and the ongoing specialization within the sector. Leading players like FedEx, DHL (implied through Deutsche Post AG), and Kuehne + Nagel are constantly innovating to improve efficiency, optimize logistics, and maintain market share in this dynamic landscape. The competitive landscape is characterized by a mix of large multinational corporations and smaller, specialized providers. The largest players leverage their global network and technological capabilities to offer comprehensive solutions, while smaller companies often focus on niche markets or specific geographic regions. Future growth hinges on the industry's ability to adapt to technological advancements, address sustainability concerns, and navigate the complexities of global trade regulations. Regional variations in growth are expected, with regions like Asia-Pacific potentially showing higher growth rates due to rapid economic expansion and e-commerce penetration. The historical period (2019-2024) likely saw fluctuations due to external factors like the COVID-19 pandemic, but the long-term outlook remains positive given the underlying growth drivers.

The market value of the air cargo industry in North America is projected to amount to ** billion U.S. dollars in 2022, a year-on-year decrease of around **** percent. After three years of a downward trend, the North-American air freight market is expected to recover and reach approximately **** billion U.S. dollars by 2027.

The report covers Global Air Freight Forwarder Market Share and is segmented by service (airlines, mail, and other services), destination (domestic and international), Geography (North America, Europe , Asia-Pacific , Middle East & Africa , South America). The report offers the market sizes and forecasts for the Air Freight Forwarding Market in value (USD) for all the above segments.

Snapshot img

Air Cargo Market Size 2025-2029

The air cargo market size is forecast to increase by USD 20.6 billion, at a CAGR of 5.2% between 2024 and 2029.

The market is experiencing significant growth, driven by the surge in e-commerce sales and the increasing demand for temperature-sensitive goods. The e-commerce sector's rapid expansion has led to a substantial increase in the volume of small consignments, necessitating the use of air freight for quick and reliable delivery. Moreover, the rise in demand for temperature-sensitive products, such as pharmaceuticals and perishables, is a crucial trend shaping the market. However, this market growth is not without challenges. The increasing jet fuel prices pose a significant obstacle, as fuel accounts for a substantial portion of the total operating costs for air cargo carriers.
This trend puts pressure on companies to find ways to optimize their fuel consumption and explore alternative fuel sources to maintain profitability. In conclusion, the market is witnessing robust growth due to the e-commerce boom and the increasing demand for temperature-sensitive goods. However, the rising jet fuel prices present a significant challenge that companies must address to remain competitive and profitable. To capitalize on the market opportunities and navigate these challenges effectively, companies need to focus on optimizing their operations, exploring alternative fuel sources, and implementing cost-saving measures.

What will be the Size of the Air Cargo Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free Sample

The market continues to evolve, shaped by a multitude of dynamic factors. Freight consolidation and trade agreements reshape the industry landscape, with freight forwarders playing a pivotal role in optimizing shipping costs and route planning. Fuel efficiency and cargo automation are driving environmental sustainability, with the Internet of Things and big data analytics transforming distribution centers. Temperature-controlled shipping and import regulations necessitate stringent cargo security measures, from biometric security to advanced cargo handling technologies. Logistics providers integrate pallet handling, conveyor systems, and inventory management to streamline operations, while cargo security technologies ensure the safe transportation of goods. Ground handling and customs clearance processes are undergoing digitalization, with supply chain optimization a top priority for businesses.

Airline networks and e-commerce logistics necessitate real-time cargo tracking and delivery time guarantees. Export compliance and cargo inspection are crucial components of international trade, with carbon emissions and eco-friendly packaging becoming increasingly important considerations. Fleet management and aircraft maintenance are essential for maintaining cargo capacity and ensuring flight schedules run smoothly. Artificial intelligence and advanced technologies like RFID tracking and demand forecasting are revolutionizing air cargo operations, enabling more efficient and effective supply chain management. The industry's continuous adaptation to these evolving market dynamics underscores its vital role in the global economy.

How is this Air Cargo Industry segmented?

The air cargo industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Manufacturing
  FMCG and retail
  Pharmaceuticals and chemicals
  Others


Type

  Belly cargo
  Freighter


Service Type

  Express Cargo
  General Cargo
  Special Cargo


Destination

  Domestic
  International


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By End-user Insights

The manufacturing segment is estimated to witness significant growth during the forecast period.

Air cargo plays a crucial role in the global supply chain, particularly in the transportation of time-sensitive and high-value goods such as automobiles and their components. The air freight industry is characterized by various entities that facilitate seamless cargo operations. Lead times are critical in this market, with freight forwarders optimizing routes and logistics providers ensuring efficient cargo handling through pallet handling, conveyor systems, and inventory management. Fuel efficiency is a significant concern for air cargo companies, leading to the adoption of sustainable aviation fuel and cargo automation to reduce

Dive into Market Research Intellect's Air Freight Cargo Market Report, valued at USD 300 billion in 2024, and forecast to reach USD 500 billion by 2033, growing at a CAGR of 7.5% from 2026 to 2033.

Although air freight volumes were lower in 2020 than in 2019, when the economy cooled down, air freight traffic experienced a boom from 2020 onwards. This is due to the coronavirus crisis. Passenger airlines, which normally transport around half of air freight, have significantly reduced their flight connections and frequencies as a result of the pandemic. As a result, transport capacities in the air freight market have shrunk, which in turn has enabled cargo airlines to push through significantly higher freight rates in favour of their profit margins. However, many subcontractors in the industry who work with passenger airlines were also affected by the crisis in 2020. In the current year, turnover is expected to increase by 0.1% to 7.3 billion euros due to the rising volume of global trade. Since 2019, industry turnover has risen by an average of 0.4% per year.In 2020, cargo airlines also benefited from the drastic drop in the global market price for crude oil due to the crisis and therefore also from more favourable paraffin costs. As a late consequence of the Ukraine conflict, the price of crude oil is likely to be significantly higher than in 2019, the year before the crisis. However, sub-sectors such as sea freight are also affected by higher transport costs. Although ocean shipping is still the cheaper and therefore more attractive alternative for customers in the industry, transport by sea takes significantly longer and is often unable to capitalise on the price advantage.Average annual sales growth of 1% is expected over the next five years and industry sales of €7.7 billion in 2029. From 2024, challenges such as stricter emissions regulations are likely to come to the fore again. The number of employees is expected to increase only slightly between 2024 and 2029.

The global air cargo market, currently valued at $88.3 billion (2025), is projected to experience steady growth, driven by the expansion of e-commerce, increasing global trade, and the rising demand for time-sensitive goods across various industries, including pharmaceuticals and perishables. A compound annual growth rate (CAGR) of 4% from 2025 to 2033 indicates a substantial market expansion over the forecast period. Key players like FedEx, UPS, DHL, and major airlines with cargo divisions are leveraging technological advancements such as improved tracking systems, automated handling processes, and optimized logistics networks to enhance efficiency and competitiveness. The growth is further fueled by the continuous development of larger, more fuel-efficient aircraft designed for greater cargo capacity. However, the market faces challenges like fluctuating fuel prices, geopolitical uncertainties impacting global trade routes, and increasing competition among established and emerging players. Market segmentation, while not explicitly provided, likely includes express shipping, general cargo, and specialized cargo handling, each influenced by its own unique dynamics. The projected growth necessitates strategic investments in infrastructure, including airport cargo facilities and advanced ground handling equipment to meet the rising demand. Regional variations in growth will likely exist, with regions like North America and Asia Pacific potentially exhibiting higher growth rates due to their significant contributions to global trade and e-commerce activity. The competitive landscape necessitates a focus on innovation, strategic partnerships, and operational excellence to maintain a strong market presence. Companies are likely focusing on expanding their networks, improving service reliability, and offering value-added services to cater to the evolving needs of various customer segments. A thorough understanding of market trends, regulatory changes, and technological disruptions is crucial for successful navigation within this dynamic sector.

The global air freight market, valued at $907.5 million in 2025, is poised for significant growth. While a precise CAGR isn't provided, considering the robust expansion driven by e-commerce, global trade, and the increasing demand for time-sensitive goods, a conservative estimate places the Compound Annual Growth Rate (CAGR) between 5% and 7% for the forecast period 2025-2033. This translates to a market size exceeding $1.4 billion by 2033. Key drivers include the expansion of global e-commerce, necessitating faster and more reliable delivery options, and the rise of just-in-time manufacturing which relies heavily on swift air freight transport. Furthermore, the growth of specialized temperature-controlled air freight for pharmaceuticals and perishable goods contributes significantly to market expansion. While potential restraints such as fuel price volatility and geopolitical uncertainties exist, the overall outlook remains positive, driven by continuous technological advancements within the industry and the adaptation of innovative solutions to address operational challenges. The competitive landscape is intensely dynamic, with major players like FedEx, UPS, and numerous international airlines vying for market share. Strategic alliances, fleet modernization, and the adoption of advanced technologies like AI and blockchain for improved tracking and efficiency are defining competitive strategies. Regional variations in growth will likely be influenced by factors such as economic development, infrastructure investment, and regulatory frameworks. Regions with strong manufacturing hubs and robust e-commerce sectors, like North America and Asia-Pacific, are expected to experience higher growth rates than others. The continued investment in sustainable aviation fuels and the incorporation of environmentally friendly practices will play a crucial role in shaping the future trajectory of this expanding market.

Global Air Freight Cargo market size 2021 was recorded $247.709 Billion whereas by the end of 2025 it will reach $296.7 Billion. According to the author, by 2033 Air Freight Cargo market size will become $425.666. Air Freight Cargo market will be growing at a CAGR of 4.615% during 2025 to 2033.

In 2021, despite the coronavirus outbreak, the cargo airline industry generated revenue streams of *** billion U.S. dollars, the highest amount in the given period. Air cargo and the COVID-19 pandemic Amid the coronavirus (COVID-19) pandemic, the global air cargo industry demonstrated a confounded business performance. Although the level of air freight volume declined, the total revenue generation increased. While passenger aviation was hit harshly and swamped by the deteriorating business conditions, the global air freight volume decreased by roughly ** percent in March 2020 compared to March 2019 levels. Contrary to intuitive beliefs, widely imposed lockdowns across countries and declining industrial production during the coronavirus pandemic did somewhat positively affect revenue levels of the air cargo market. During 2020, the air cargo companies generated higher revenue than expected, which could be mostly driven by the rising prices for rapid transport of goods on airplanes. For example, the number of cargo flights in China and Germany increased during March 2020 compared to months before the COVID-19 hit widely. Airfreight forwarding The process of facilitating the transportation network of freight by air is the main task of airfreight forwarders. With the help of freight forwarders, industrial organizations design business operations across the globe. Consequently, airfreight forwarders are one of the facilitators of the increasingly interconnected international trade relations. Although a multitude of companies strives to achieve more and more market share in airfreight forwarding, some are more successful than others as a result of a well-developed business strategy. As of 2023, DHL Supply Chain & Global Forwarding, Kuehne +Nagel, and DB Schenker Logistics were the three leading airfreight forwarders based on the volume of freight handled. Advancements in global trade creates an incentive for an expansion of opportunity space for air freight forwarders. By the end of 2024, the size of the total freight forwarding market, including airfreight, is expected to reach *** billion U.S. dollars, which is a ** percent increase from 2018 levels.

The Nigeria Air Freight Market Report Segments the Industry Into by Service Type (Freight Transport (Cargo/Mail), and More), by Destination (Domestic and International), by Carrier Type (Belly Cargo and Freighter) and by End User Industry (Manufacturing, Oil & Gas / Energy and More), by Cargo Type (General Cargo and Special Cargo) and by Region (South West and More). The Market Forecasts are Provided in Terms of Value (USD).