According to IMARC Group latest report titled “Airfreight Forwarding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on airfreight forwarding market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global airfreight forwarding market size reached 47.7 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 60.7 Million Tons by 2028, exhibiting a growth rate (CAGR) of 3.6% during 2023-2028.
Airfreight forwarding is the process of arranging transportation and logistics services for shipments that are moved by airways. It involves arranging cargo pickup at its origin, the necessary permits and documents, coordinating with airlines, chartering aircraft, arranging for customs clearance, handling storage and delivery at the destination, and providing tracking and tracing of shipments. Additionally, it is responsible for ensuring that cargo is properly packaged and labeled, that the necessary paperwork is completed and that the cargo arrives safely and on time. It is responsible for coordinating with the airlines to ensure that the cargo is safely loaded and unloaded and that it is transported in accordance with the airline’s regulations.
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Market Trends:
Significant growth in the e-commerce sector majorly drives the global market. With more businesses relying on online sales, they need a reliable and efficient way to ship their goods to their customers quickly and securely, which is significantly supporting the market. Along with this, rapid globalization leads to an increasing need for air freight forwarding services as businesses are expanding abroad and the growing needs for faster international deliveries. In line with this, customers are demanding faster delivery times, especially for goods that are time-sensitive or perishable. As a result, air freight forwarding is becoming a popular option for businesses that need to get their products to their customers quickly, which is impacting the market. Furthermore, continual technological advancements and the rising demand for improved accuracy and reliability of air freight forwarding services are creating a positive market outlook.
Another driver of growth in the airfreight forwarding market is the increasing demand for perishable goods. As mentioned earlier, the growing demand for fresh produce and pharmaceuticals has contributed to the growth of the airfreight forwarding market. With the increasing need for these products to be transported quickly and efficiently, airfreight forwarding has become an attractive option for many businesses.
Additionally, the growing trend towards globalization has also contributed to the growth of the airfreight forwarding market. As businesses expand their operations globally, they require a reliable means of transporting their goods across borders. Airfreight forwarding provides a fast and efficient means of transportation, making it an essential component of the global supply chain.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Bolloré Logistics
- CEVA Logistics AG (CMA CGM S.A.)
- Deutsche Post AG
- DSV Panalpina A/S
- Expeditors International
- Hellmann Worldwide Logistics
- Kuehne Nagel International AG
- Nippon Express
- Sinotrans Limited
- UPS Supply Chain Solutions
Global Airfreight Forwarding Market Segmentation:
Our report has categorized the market based on region, type, service type and end-use.
Breakup by Type:
- Full Charter
- Split Charter
Breakup by Service Type:
- Packaging and Labelling
- Documentation and PO Management
- Charter Services
- Transportation and Warehousing
- Others
Breakup by End Use Industry:
- Retail and FMCG
- Manufacturing
- Consumer Appliances
- Healthcare
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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