Air Cargo Market to Grow at USD 217.74 Billion by 2031 High Demand for Perishable Pharmaceutical

WESTFORD, MA, UNITED STATES, September 23, 2024 /EINPresswire.com/ -- Air Cargo Market size was valued at USD 131.09 Billion in 2022 and is poised to grow from USD 138.69 Billion in 2023 to USD 217.74 Billion by 2031, at a CAGR of 5.80% during the forecast period (2024-2031).

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The air cargo service is a process of transporting goods by utilizing specialized cargo aircraft or the cargo space of passenger planes, thereby offering efficient and fast delivery of items globally. The demand for air cargo is increasing rapidly due to factors like the increasing e-commerce sector, growing globalization, rising demand for temperature-sensitive products, and perishable pharma good. Furthermore, the rapidly extending manufacturing sector and advancements in cold chain logistics is also positively influencing the growth of air cargo market. Furthermore, air cargo provides outstanding speed and efficiency, enabling businesses to transport time-sensitive goods and perishable items, reducing inventory holding expense and maintaining freshness. Moreover, the boom of e-commerce is also substantially impacting the air cargo market with the increasing online shopping, leading to the demand pf fast and dependable delivery options. Air cargo serves as a vital provider for e-commerce businesses, helping them to fulfil orders rapidly and meet customer expectations.

Increasing Popularity of Air Cargo to Securely and Safely Deliver Goods

The air cargo shipping is popular for their dependability and security. Airlines always focus on safety measures and invest massively in advanced technologies and monitoring systems. This guarantee streamlined movement of products and help companies to safely deliver the goods at the doorstep of their clients. Furthermore, airports also have strict security protocols, which efficiently reduces the risk of theft, tampering, and save the cargo from damaging. Moreover, many aircraft facilities and specialized handling procedures focus on cautiously managing shipments, minimizing the chance of mishandling or loss.

Incorporation of AI in Air Cargo to Offer Better Service to Customer to Boost Market Next 4-5 Years

The following are the key Air Cargo Trends that will shape the growth of the market in the next 5 years

Artificial intelligence has successfully revolutionized the air cargo sector, by helping airlines in predicting future rates and adjusting schedules along with the market fluctuations. Furthermore, cargo aircrafts have also decreased inaccuracy and errors in shipments with the help of real-time responses. Aircraft organizations are integrating AI-powered robots and drones in inventory and delivery management to reduce manual labor and tedious work. They are also dedicated towards improving customer satisfaction, due to which the air cargo market is also integrating chatbots and virtual assistants. This will help them to offer rapid and efficient responses to the customers, increasing customer satisfaction.

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Latest Headlines to Follow in Air Cargo Market

• In February 2022, Flexport conducted an advanced purchase order for two wide-scale cargo unmanned aerial vehicle designees from Nautilus. Nautilus is developing the first-ever autonomous aircraft particularly designed for air cargo transportation.

• In May 2023, ECS Group partnered with the Air Cargo business unit of MSC. It will be the organization’s commercial partner fulfilling customer demand and increase capacity.

• In November 2022, cargo-partner launched a new air freight solution to and from Amsterdam. This solution particularly supports customers with the import and export of products from Asia.

This Market Consists of the Following Segments

Type of Cargo
1. General Cargo
2. Perishable Goods
3. Pharmaceuticals
4. E-Commerce Parcels

Service Type
1. Express Delivery
2. Freight Forwarding
3. Charter Services
4. Courier Services

Key Players Operating the Air Cargo Market
• FedEx Corporation (US)
• DHL International GmbH (Germany)
• Emirates SkyCargo (UAE)
• Cathay Pacific Airways Limited (Hong Kong)
• Korean Air Cargo (South Korea)
• Cargolux Airlines International S.A. (Luxembourg)
• Lufthansa Cargo AG (Germany)
• Singapore Airlines Cargo (Singapore)
• Air France-KLM Cargo (France/Netherlands)
• China Airlines Cargo (Taiwan)
• Qatar Airways Cargo (Qatar)
• Turkish Airlines Cargo (Turkey)

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Initiatives to Reduce Environmental Impact to Increase Demand for Air Cargo in Next 10 Years
Air cargo has the capability to reduce environmental impact compared to other shipments like train and water ways. Even though air freight emits more carbon dioxide per ton-kilometer when compared to water cargo, it can also transport more products in reduced time and space. Air cargo can ship goods in less than an hour whereas train or waterways takes a week or even months in some cases to ship items. Therefore, air cargo has the potential to minimize the overall energy consumption and greenhouse gas emissions of the supply chain. Air cargo can also minimize the negative impacts of water shipments, like water pollution, noise pollution, and marine life disruption.

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Artificial Intelligence Market

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