The worldwide air freight segment was worth $270.2 billion in 2019 and is expected to grow at a CAGR of 5.6 percent to $376.8 billion by 2027.
Airfreight is a kind of transportation that uses aircraft to carry high-speed shipments over extended distances. Because the global economy depends on the capacity to carry valuable and superior quality products quickly to consumers all over the world, air freight helps to world economic progress. Vaccinations are typically supplied through aeroplanes due to the high delivery rates and temperature-sensitive areas in aircraft. This helps vaccines reach their particular application in time to be efficient.
Vaccination programmes, as per the World Health Organization, assist in avoiding roughly 3 million child deaths each year. Airfreight is critical in ensuring the safe delivery of temperature-sensitive drugs using cutting-edge methods and technologies. Even though air freight accounts for only around 1% of total freight activity by weight and shipping things via aircraft is extremely expensive, it is a very important option for transporting jewellery, medications, perishable commodities, expensive electronic items, and other items.
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The air cargo market has been segmented into two types: airmail and air freight worldwide. The air freight type has the biggest market share and dominated the market in 2018.
According to the Service
Depending on the service, the industry has been separated into normal and expedited services worldwide. The express service had the biggest market global market share in 2018. It is predicted to continue to lead the market shortly.
Depending on the Location
The international and domestic markets for air cargo have been established worldwide, depending on the location. In the world market, they have the greatest market share.
Based on the End-Users
The Air Cargo Market has been segmented into retail, automotive, pharmaceutical and healthcare, consumer electronics, food & drinks, and other end-users worldwide. In 2018, the pharmaceutical and healthcare industry had the biggest market share and therefore controlled the market.
The air freight market has been segmented into North American, European, Asia-Pacific, Latin American, and the Middle East and African regions depending on the region. As the quickest area, the Asia-Pacific region has the greatest market global market share, owing to the rapid growth of the e-commerce industry in countries such as Australia, India, and China.
The North American area has the second-largest industry global market share.
The European region will have the third-largest share of the market in worldwide market operations.
Latin America, as well as the Middle East and Africa, have the smallest market share.
The air freight industry is undergoing a technological revolution, moving away from the overuse of ageing mainframe systems and more customizable interfaces for processes like flight operations, networking planning, revenue accounting, etc. Furthermore, the increasing use of cool-chain technology, robots, automated systems, artificial intelligence (AI), deep learning, IoT, Big Data, and augmented & virtual reality across various processes is expected to drive the global air freight market forward over the forecast period.
Air Cargo Market Research Report: Information by Type (Air Freight and Air Mail), Service (Express and Regular), Destination (Domestic and International), End User (Retail, Food & Beverages, Pharmaceutical and Healthcare, Consumer Electronics, Automotive and others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) – Forecast till 2027 @ https://www.marketresearchfuture.com/reports/air-cargo-market-8271
The report provides insights on the following pointers:
Chapter 1 Study Coverage
Chapter 2 Executive Summary
Chapter 3 Air Cargo Market Competitor Landscape by Players
Chapter 4 Air Cargo Market Size by Type and Application
Chapter 5 Global and Regional Analysis
Chapter 6 Company Profiles, recent developments, and investments
Chapter 7 Market Opportunities, Challenges, Risks and Influences Factors Analysis
Chapter 8 Value Chain and Sales Channels Analysis with breakthrough product developments
Chapter 9 Research Findings and Conclusion
Chapter 10 Methodology/Research Approach