The Business Research Company’s Air Cargo Services Global Market Report 2021 – COVID-19 Impact And Recovery
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According to the new market research report ‘Air Cargo Services Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the air cargo services market is expected to grow from $56.48 billion in 2020 to $64.98 billion in 2021 at a compound annual growth rate (CAGR) of 15%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $99.67 billion in 2025 at a CAGR of 11%.
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The air cargo transport services market consists of sales of air cargo transport services and related goods by entities (organizations, sole traders and partnerships) that use aircraft, such as airplanes and helicopters to provide air transportation of cargo and mail on a contract basis over fixed international routes.
Trends In The Global Air Cargo Services Market
Air cargo companies are increasingly using block chain technology to improve efficiency, minimize losses, and prevent damage to cargo. Block chain technology allows air cargo companies to digitally track and record the change of custody for airline cargo containers, or Unit Load Devices (ULDs), as they journey between destinations. For instance, block chain in Transport Alliance (BiTA) is pushing for a standardized implementation in the logistics industry. Large industry players such as UPS, FedEx, DHL, and Union Pacific have signed on with BiTA. Sita, an air transport communications and information technology company estimate the possibility of using block chain technology to save $400M a year for the air cargo industry.
Global Air Cargo Services Market Segments:
The global air cargo service market is further segmented:
By Type: Air Mail, Air Freight
By Destination: Domestic, International
By End-User: Consumer Electronics, Retail, Third Party Logistics, Food And Beverages, Pharmaceuticals And Healthcare, Others
By Service: Express, Regular
By Geography: The global air cargo market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific air cargo services market accounts for the largest share in the global air cargo services market.
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Air Cargo Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides air cargo services global market overviews, analyzes and forecasts market size and growth for the global air cargo services market, air cargo services market share, air cargo services market players, air cargo services market segments and geographies, air cargo services market’s leading competitors’ revenues, profiles and market shares. The air cargo services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Air Cargo Services Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Air Cargo Services Market Organizations Covered: Cathay Pacific Cargo, FedEx, The Emirates Group, United Parcel Service, DHL Aviation.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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