Cargo Airlines Market Set to Surge at 6.5% CAGR, to Reach US$ 296.58 Billion by 2034 | Fact.MR Report
Widespread Use of Cargo Airlines e-Commerce and Medical Supply Logistics Pushing Sales to New Heights
Rockville, MD, Dec. 03, 2024 (GLOBE NEWSWIRE) -- According to the newly published report by Fact.MR, a market research and competitive intelligence provider, the global cargo airlines market is evaluated to reach US$ 157.2 billion in 2024 and the market is further forecasted to rise at a CAGR of 6.5% between 2024 and 2034.
Globally, cargo carriers are expanding at a rate never seen before as several industries depend more on airfreight to meet their logistical requirements. Due to the growth of e-Commerce and the need for quick delivery of medical supplies, cargo aircraft has evolved from a luxury service to an essential part of the infrastructure. To maintain effective supply chains and satisfy just-in-time delivery needs, several industries—from the production of automobiles to the providers of fresh produce—are increasing their usage of air cargo. Cargo planes are essential to international trade because of their capacity to deliver valuable products, emergency supplies, and temperature-sensitive commodities.
Significant investments in specialized airplanes, cutting-edge handling facilities, and creative tracking systems have been spurred by this increase in demand. While conventional passenger carriers are modifying aircraft to suit freight demands, airlines are growing their specialized cargo fleets.
The pattern is indicative of a fundamental change in global logistics, where flexibility, speed, and dependability are now critical in supporting a global economy that is becoming more integrated by the day.
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Key Takeaways from Market Study
- The global cargo airlines market is projected to reach a valuation of US$ 296.58 billion by the end of 2034.
- The East Asia market for cargo airlines is analyzed to expand at a CAGR of9% from 2024 to 2034.
- Demand for cargo airlines in Mexico is forecasted to rise at a CAGR of8% through 2034.
- Japan is evaluated to progress at a CAGR of3% in East Asia through 2034.
- Requirements for scheduled airfreight transportation are approximated to increase at a CAGR of3% from 2024 to 2034.
- The Oceania market is analyzed to escalate at a CAGR of4% between 2024 and 2034.
“Moving vehicle components between manufacturing facilities is going to be way easier with the help of cargo airlines worldwide,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Cargo Airlines Market:
Key players in the cargo airlines market are FedEx Corporation, UPS Airlines, Qatar Airways Cargo, Emirates SkyCargo, DHL International GmbH, Cathay Pacific Cargo, Singapore Airlines Cargo, Lufthansa Cargo, ANA Cargo, Etihad Cargo, Korean Air Cargo
Cargo Airlines Becoming More Advanced With Digital Revolution:
The worldwide market share of the cargo aviation business is expanding because of revolutionary developments. IoT-enabled smart cargo containers are revolutionizing the transportation of sensitive commodities by offering real-time temperature, humidity, and location monitoring. Shipping of pharmaceuticals and perishable items has increased significantly because of this technology.
By optimizing load distribution and route planning, artificial intelligence and machine learning algorithms are drastically lowering operating expenses and their negative effects on the environment. Ground operations have been expedited by new robotic handling equipment and autonomous loading systems, which have decreased personnel costs and turnaround times.
Improved range and lower operating costs have resulted from the development of fuel-efficient engines and cargo-specific aerodynamic changes. Moreover, airlines now have more flexibility to adapt to changing market needs thanks to new convertible aircraft designs that enable seamless transitions between passenger and cargo configurations. In addition to increasing service dependability, these technical developments have drawn clients from industries that were previously dependent on maritime freight, which has helped the business achieve spectacular global expansion.
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Cargo Airlines Industry News:
- In August 2024, FedEx introduced "FedEx Surround," a state-of-the-art real-time shipping monitoring program. The system uses data analytics and SenseAware ID sensors to provide ongoing tracking and predictive interventions. It enables near real-time location updates every two seconds thanks to AI-driven insights, enabling prompt responses to any disruptions. It is currently available in Singapore and Hong Kong and will soon be available in other Asian nations, including China, Japan, and Australia. This service provides options tailored to healthcare, aerospace, and technology clients and is designed for businesses that require just-in-time delivery and proactive cargo management.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the cargo airlines market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product & service (scheduled airfreight transportation, airfreight transportation integrated services, charter airfreight transportation), and major market (domestic & regional route, Asia- north America route, Europe- Asia route, other long haul routes, Europe- north America route), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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