The global air cargo market is expected to reach a valuation of US$130.12 bn by the end of 2025.
Albany, NY -- (SBWIRE) -- 02/01/2018 -- A new informative study based on air cargo titled "Air Cargo Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025" has recently been submitted to the repository of Market Research Reports Search Engine (MRRSE). As per the study, a value of nearly US$130.12 bn is estimated to be generated by the global air cargo market by 2025. The report also projects that the global market is expected to exhibit a 4.9% CAGR during the assessment period from 2017 to 2025.
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According to the report, the growth of the global air cargo market is driven by international policies and favorable initiatives by the government. The 'Open Skies' policy of the government is a key factor that is driving the growth of the market. The continuity of this program is likely to provide an impetus to the growth of the market.
Increase in the number of cargo, combi, and passenger aircrafts around the globe is also likely to provide an impetus to the growth of the market. Global air traffic is surging and airline companies are increasing their fleet to cater to the growing demand. Whereas cargo planes are dedicated entirely for commercial purposes, increase in the number of combin airplanes is likely to provide an impetus to market growth
For detailed insight, the global air cargo market has been divided into various segments and sub-segments and these are component, service, destination, end-user and geography. By component segment, the market is sub-segmented into air freight and air mail. On the basis of service segment, the global market is categorized as express and regular. The global market is bifurcated into domestic and international on the basis of destination segment. The end user segment is divided into retail, consumer electronics, food and beverages, third party logistics, pharmaceuticals and healthcare and others. Geographically, the readers will find global market divided into key regions that are North America, South America, Europe, Asia Pacific and Middle East and Africa.
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Asia Pacific has been identified as one of the leading markets for air cargo market globally. The emergence of China and India as the world's fastest growing economies has played a key role in ramping up international trade from the region. In addition to Asia Pacific, Europe and North America are the other lucrative regions in the global air cargo market.
Some of the key companies profiled are Cathay Pacific Cargo, UPS Airlines, Korean Air Caro, China Airlines Cargo, Emirates SkyCargo, FedEx Express, DHL Aviation, Lufthansa Cargo, Singapore Airlines Cargo and Cargolux.
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