BANGALORE, India, March 12, 2020 /PRNewswire/ -- The recent strong upturn in the air cargo market is driven by three key elements: synchronized global economic expansion, increased industrial output, and world trade growth.
The air cargo market is segmented into service, component, and end-user. Based on service, the market is further classified into express and regular. Based on the component, the market is split into air freight and airmail. And by the end-user, the market is classified as Consumer Electronics, Food and Beverages, Pharmaceuticals and Healthcare, Retail, Third Party Logistics, Chemicals and Manufacturing.
The global air cargo market is highly competitive and is marked by the presence of a large number of international and regional players. The market has witnessed increased competition between vendors based on the pricing model, differentiation of technology, brand name, service quality, product differentiation, and technical expertise.
Global Air Cargo Market to grow from USD 92,812.56 Million in 2018 to USD 183,804.57 Million by 2025, at a Compound Annual Growth Rate (CAGR) of 10.25%.
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TRENDS INFLUENCING THE AIR CARGO MARKET SIZE:
- The rising e-commerce has put sales channels under pressure for faster delivery and an efficient supply chain. This scenario provides opportunities for the distribution and warehousing facilities of third parties to integrate with the air e-commerce system. Owing to the continued growth in online shopping, many third-party logistics (3PLs) are offering more multimodal services, which include air cargo service as a critical mode of transportation. In addition, growth in overall cross-border e-commerce is expected to fuel demand for the air cargo market.
- In general, products transported by air, such as time-sensitive perishables and high-value materials, including computers, consumer electronics, and pharmaceuticals, are among the fastest-growing trade flows in the world. This increase in demand for these products has in-turn, increased air cargo market growth.
- In developed countries, dedicated air cargo terminals are being designed in tandem with the increased air cargo volume to speed up the air cargo screening process and efficiently manage security threats. On the other hand, with the aid of advanced air cargo screening systems, new freight terminals are increasingly being used, thereby triggering the expansion of the air cargo market.
REGION WISE AIR CARGO MARKET SHARE ANALYSIS
- During the forecast period, North America is predicted to be the fastest-growing regional market. The increasing US economy and high disposable per capita income are driving the region's business growth.
GLOBAL AIR CARGO MARKET, BY GEOGRAPHY
- United States
Europe, Middle East & Africa
- United Kingdom
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MARKET SEGMENTATION & COVERAGE
The research report categorizes the Global Air Cargo Market to forecast the revenues and analyze the trends in each of the following segments:
AIR CARGO MARKET, BY SERVICE
AIR CARGO MARKET, BY COMPONENT
- Air Freight
- Air Mail
AIR CARGO MARKET, BY END-USER
- Consumer Electronics
- Food and Beverages
- Pharmaceuticals and Healthcare
- Third Party Logistics
1. Air Cargo & Freight Logistics Market
The report strategically segments the market into type and application. Based on type, the market is segmented into domestic and international. And based on the application, the market is segmented into food, Industrial Materials, and Equipment.
This report studies the global market size of Air Cargo & Freight Logistics, especially focuses on key regions like United States, European Union, China, and other regions (Japan, Korea, India, and Southeast Asia).
Further, this study presents the Air Cargo & Freight Logistics production, revenue, market share, and growth rate for each key company and also covers the breakdown data (production, consumption, revenue, and market share) by regions, type and applications. History breakdown data from 2014 to 2019, and forecast to 2025.
2. Airport Cargo Rack Market
The report strategically segments the market into type and application. Based on type, the market is segmented into metal and composite material. Based on the application, the market is classified as Warehouse Terminal and Freighter Aircraft.
This report focuses on Airport Cargo Rack volume and value at the global level, regional level, and company level. From a global perspective, this report represents the overall Airport Cargo Rack market size by analyzing historical data and future prospects. Regionally, this report focuses on several key regions: North America, Europe, China, and Japan.
Air Cargo Security Market
Air cargo security equipment systems are devices that are used to search parcels and classify hidden illicit objects in boxes transported by flights. This device is majorly used in applications such as air cargo security screening, aviation checkpoint solutions, advanced personnel screening.
This study presents the Air Cargo Security production, revenue, market share, and growth rate for each key company, and also covers the breakdown data (production, consumption, revenue, and market share) by regions, type(X-ray systems, Human-heartbeat detection systems) and applications(advanced personnel screening, air cargo security screening, aviation checkpoint solutions).
Air Cargo Management Market
The report is strategically segmented into type and application. Based on type, the market is further segmented into Air Freight and Air Mail. Based on the application, the market is split into Express Air Cargo and Regular Air Cargo.
This study focuses on the global status of Air Cargo Management, future outlook, the potential for growth, key market, and key players. The aims of the study are to present the growth of Air Cargo Management in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
Air Cargo Screening Systems Market
The report strategically segments the market into type and application. Based on type, the report is further segmented into Explosive Detection Systems (EDS), Explosive Trace Detection (ETD), and Non-computed Tomography Transmission X-ray (Non-CT X-ray). And based on the application, the market is split into Commercial and Military.
This study focuses on the volume and value of Air Cargo Screening Systems at global, regional, and enterprise levels. From a global viewpoint, this study reflects the overall market size for Air Cargo Screening Systems by evaluating historical data and expectations for the future. The study focuses mainly on North America, Europe, China, and Japanese regions.
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