The cargo aircraft charter service market size has grown strongly in recent years. It will grow from $9.66 billion in 2023 to $10.4 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth observed in the historical period can be ascribed to the expansion of global trade and commerce, an increase in occurrences of natural disasters or humanitarian crises, a surge in e-commerce activities, heightened security concerns, and shifts in global trade policies, tariffs, or geopolitical tensions.
The cargo aircraft charter service market size is expected to see strong growth in the next few years. It will grow to $14.18 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period can be credited to the sustained expansion of online retail, an increased emphasis on constructing resilient supply chains, the ongoing expansion and modernization of airports, the global transition towards renewable energy sources, and changes in global trade agreements, tariffs, or geopolitical factors. Major trends expected in the forecast period include technological advancements in aviation, the adoption of digital platforms, the customization of charter services to meet specific customer needs, the implementation of dynamic pricing strategies, and increased collaborations among charter service providers, airlines, logistics firms, and technology companies.
The anticipated growth in the cargo aircraft charter service market is expected to be propelled by an increase in air travel passengers. Air travel passengers encompass individuals who use commercial airlines or private aircraft for various purposes, and cargo aircraft charter services play a crucial role in diverse situations, including natural disasters, humanitarian emergencies, transportation of essential goods, business travel, and specialized services. For instance, statistics from the Bureau of Transportation in March 2023 revealed a 30% increase in the number of passengers carried by American Airlines, rising from 658 million in 2021 to 853 million in 2022. Therefore, the surge in air travel passengers is a driving force behind the growth of the cargo aircraft charter service market.
The growing expansion of e-commerce is expected to further drive the growth of the cargo aircraft charter service market. E-commerce involves the online buying and selling of goods and services, and cargo aircraft charter services offer swift and flexible shipping solutions for e-commerce businesses. This facilitates meeting customer expectations for prompt deliveries and supports efficient inventory replenishment by providing rapid and reliable transportation options. For instance, data from the United States Census Bureau in August 2023 indicated a 7.5% increase in the estimate for e-commerce in the second quarter of 2023 compared to the same period in 2022, while overall retail sales rose by 0.6%. Online stores accounted for 15.4% of all sales in the second quarter of 2023. Hence, the growing expansion of e-commerce is contributing to the growth of the cargo aircraft charter service market.
Product innovation stands out as a prominent trend gaining traction in the cargo aircraft charter service market. Key players within this market are actively engaged in the development of innovative products to maintain their competitive positions. For example, in September 2022, Air Charter Service, a US-based air service provider, unveiled ACS Time Critical, a comprehensive suite of urgent cargo services. This specialized team offers various services, including onboard courier and next flight out, coupled with integrated trucking solutions, ensuring a premium door-to-door service for clients with urgent cargo needs, in addition to immediate cargo aircraft charters.
Major companies in the cargo aircraft charter service market are strategically introducing cutting-edge solutions, such as second-generation cargo aircraft. These aircraft are designed to be more efficient and cost-effective than their predecessors, featuring powerful high-bypass engines and incorporating new technologies. As an illustration, in March 2021, J&T Express, an Indonesian logistics company, launched the Boeing 737-300. This aircraft, part of the second generation of the Boeing 737 family (Classic series), is a short- to medium-range narrow-body airliner with a cargo transportation capacity of up to 15 tons. The Boeing 737-300 is geared towards enhancing delivery services, ensuring efficient, secure, and high-quality express services for improved domestic connectivity and next-day delivery for local consumers. This initiative underscores J&T Express's commitment to expanding and elevating its logistics capabilities.
In April 2022, Wheels Up Experience Inc., a US-based charter airline company, completed the acquisition of Air Partner plc. for $109 million. Through this acquisition, Wheels Up aims to extend its international offerings, encompassing group charter freight, safety, and security services. Air Partner plc. is a UK-based aviation company specializing in providing aircraft charter services and aviation safety and security solutions to various sectors, including industry, commerce, governments, and private individuals.
Major companies operating in the cargo aircraft charter service market report are United Parcel Service, DSV A/S, Atlas Air, Cathay Pacific Cargo, Cargo Partner, Vietjetair Cargo, Cargo Air Chartering, AYR Logistics Limited, CTS Logistics Group, ACC Aviation, Chapman Freeborn, LunaJets, Air Partner, Logistics Plus, Airports Council International, CSI Aviation Inc., Rhenus Logistics, Arcus-Air GmbH and Co. KG, Fliteline B.V., Stratos Jet Charters Inc., Prescott Support, Aviocharter, BitLux, Air Charter Services Pvt. Ltd., Airmacs Aviation, JALCARGO Charter Service, Euroasian Cargo Solutions, XELLZ Air Cargo Charter Services (XACS)
Asia-Pacific was the largest region in the cargo aircraft charter service market in 2023. The regions covered in the cargo aircraft charter service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cargo aircraft charter service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Cargo aircraft charter services encompass various types, including time-critical cargo, heavy and oversized cargo, dangerous cargo, animal transportation, and others. Time-critical cargo primarily consists of shipments comprising goods with a limited shelf life, such as perishables or prescription medications. The available aircraft types vary from light and mid-sized to large aircraft, serving applications in both private and commercial usage.
The cargo aircraft charter services market research report is one of a series of new reports that provides cargo aircraft charter services market statistics, including the cargo aircraft charter services industry's global market size, regional shares, competitors with a cargo aircraft charter services market share, detailed cargo aircraft charter services market segments, market trends, and opportunities, and any further data you may need to thrive in the cargo aircraft charter services industry. This cargo aircraft charter services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The cargo aircraft charter service market includes revenues earned by entities by providing services such as door-to-door service, loading and unloading, humanitarian aid, and shipping facilities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The cargo aircraft charter service market size is expected to see strong growth in the next few years. It will grow to $14.18 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period can be credited to the sustained expansion of online retail, an increased emphasis on constructing resilient supply chains, the ongoing expansion and modernization of airports, the global transition towards renewable energy sources, and changes in global trade agreements, tariffs, or geopolitical factors. Major trends expected in the forecast period include technological advancements in aviation, the adoption of digital platforms, the customization of charter services to meet specific customer needs, the implementation of dynamic pricing strategies, and increased collaborations among charter service providers, airlines, logistics firms, and technology companies.
The anticipated growth in the cargo aircraft charter service market is expected to be propelled by an increase in air travel passengers. Air travel passengers encompass individuals who use commercial airlines or private aircraft for various purposes, and cargo aircraft charter services play a crucial role in diverse situations, including natural disasters, humanitarian emergencies, transportation of essential goods, business travel, and specialized services. For instance, statistics from the Bureau of Transportation in March 2023 revealed a 30% increase in the number of passengers carried by American Airlines, rising from 658 million in 2021 to 853 million in 2022. Therefore, the surge in air travel passengers is a driving force behind the growth of the cargo aircraft charter service market.
The growing expansion of e-commerce is expected to further drive the growth of the cargo aircraft charter service market. E-commerce involves the online buying and selling of goods and services, and cargo aircraft charter services offer swift and flexible shipping solutions for e-commerce businesses. This facilitates meeting customer expectations for prompt deliveries and supports efficient inventory replenishment by providing rapid and reliable transportation options. For instance, data from the United States Census Bureau in August 2023 indicated a 7.5% increase in the estimate for e-commerce in the second quarter of 2023 compared to the same period in 2022, while overall retail sales rose by 0.6%. Online stores accounted for 15.4% of all sales in the second quarter of 2023. Hence, the growing expansion of e-commerce is contributing to the growth of the cargo aircraft charter service market.
Product innovation stands out as a prominent trend gaining traction in the cargo aircraft charter service market. Key players within this market are actively engaged in the development of innovative products to maintain their competitive positions. For example, in September 2022, Air Charter Service, a US-based air service provider, unveiled ACS Time Critical, a comprehensive suite of urgent cargo services. This specialized team offers various services, including onboard courier and next flight out, coupled with integrated trucking solutions, ensuring a premium door-to-door service for clients with urgent cargo needs, in addition to immediate cargo aircraft charters.
Major companies in the cargo aircraft charter service market are strategically introducing cutting-edge solutions, such as second-generation cargo aircraft. These aircraft are designed to be more efficient and cost-effective than their predecessors, featuring powerful high-bypass engines and incorporating new technologies. As an illustration, in March 2021, J&T Express, an Indonesian logistics company, launched the Boeing 737-300. This aircraft, part of the second generation of the Boeing 737 family (Classic series), is a short- to medium-range narrow-body airliner with a cargo transportation capacity of up to 15 tons. The Boeing 737-300 is geared towards enhancing delivery services, ensuring efficient, secure, and high-quality express services for improved domestic connectivity and next-day delivery for local consumers. This initiative underscores J&T Express's commitment to expanding and elevating its logistics capabilities.
In April 2022, Wheels Up Experience Inc., a US-based charter airline company, completed the acquisition of Air Partner plc. for $109 million. Through this acquisition, Wheels Up aims to extend its international offerings, encompassing group charter freight, safety, and security services. Air Partner plc. is a UK-based aviation company specializing in providing aircraft charter services and aviation safety and security solutions to various sectors, including industry, commerce, governments, and private individuals.
Major companies operating in the cargo aircraft charter service market report are United Parcel Service, DSV A/S, Atlas Air, Cathay Pacific Cargo, Cargo Partner, Vietjetair Cargo, Cargo Air Chartering, AYR Logistics Limited, CTS Logistics Group, ACC Aviation, Chapman Freeborn, LunaJets, Air Partner, Logistics Plus, Airports Council International, CSI Aviation Inc., Rhenus Logistics, Arcus-Air GmbH and Co. KG, Fliteline B.V., Stratos Jet Charters Inc., Prescott Support, Aviocharter, BitLux, Air Charter Services Pvt. Ltd., Airmacs Aviation, JALCARGO Charter Service, Euroasian Cargo Solutions, XELLZ Air Cargo Charter Services (XACS)
Asia-Pacific was the largest region in the cargo aircraft charter service market in 2023. The regions covered in the cargo aircraft charter service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cargo aircraft charter service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Cargo aircraft charter services encompass various types, including time-critical cargo, heavy and oversized cargo, dangerous cargo, animal transportation, and others. Time-critical cargo primarily consists of shipments comprising goods with a limited shelf life, such as perishables or prescription medications. The available aircraft types vary from light and mid-sized to large aircraft, serving applications in both private and commercial usage.
The cargo aircraft charter services market research report is one of a series of new reports that provides cargo aircraft charter services market statistics, including the cargo aircraft charter services industry's global market size, regional shares, competitors with a cargo aircraft charter services market share, detailed cargo aircraft charter services market segments, market trends, and opportunities, and any further data you may need to thrive in the cargo aircraft charter services industry. This cargo aircraft charter services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The cargo aircraft charter service market includes revenues earned by entities by providing services such as door-to-door service, loading and unloading, humanitarian aid, and shipping facilities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Cargo Aircraft Charter Service Market Characteristics3. Cargo Aircraft Charter Service Market Trends and Strategies32. Global Cargo Aircraft Charter Service Market Competitive Benchmarking33. Global Cargo Aircraft Charter Service Market Competitive Dashboard34. Key Mergers and Acquisitions in the Cargo Aircraft Charter Service Market
4. Cargo Aircraft Charter Service Market - Macro Economic Scenario
5. Global Cargo Aircraft Charter Service Market Size and Growth
6. Cargo Aircraft Charter Service Market Segmentation
7. Cargo Aircraft Charter Service Market Regional and Country Analysis
8. Asia-Pacific Cargo Aircraft Charter Service Market
9. China Cargo Aircraft Charter Service Market
10. India Cargo Aircraft Charter Service Market
11. Japan Cargo Aircraft Charter Service Market
12. Australia Cargo Aircraft Charter Service Market
13. Indonesia Cargo Aircraft Charter Service Market
14. South Korea Cargo Aircraft Charter Service Market
15. Western Europe Cargo Aircraft Charter Service Market
16. UK Cargo Aircraft Charter Service Market
17. Germany Cargo Aircraft Charter Service Market
18. France Cargo Aircraft Charter Service Market
19. Italy Cargo Aircraft Charter Service Market
20. Spain Cargo Aircraft Charter Service Market
21. Eastern Europe Cargo Aircraft Charter Service Market
22. Russia Cargo Aircraft Charter Service Market
23. North America Cargo Aircraft Charter Service Market
24. USA Cargo Aircraft Charter Service Market
25. Canada Cargo Aircraft Charter Service Market
26. South America Cargo Aircraft Charter Service Market
27. Brazil Cargo Aircraft Charter Service Market
28. Middle East Cargo Aircraft Charter Service Market
29. Africa Cargo Aircraft Charter Service Market
30. Cargo Aircraft Charter Service Market Competitive Landscape and Company Profiles
31. Cargo Aircraft Charter Service Market Other Major and Innovative Companies
35. Cargo Aircraft Charter Service Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Cargo Aircraft Charter Service Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on cargo aircraft charter service market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for cargo aircraft charter service? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Time Critical Cargo; Heavy and Outside Cargo; Dangerous Cargo; Animal Transportation; Other Types
2) By Aircraft Type: Light; Mid-Sized; Large
3) By Application: Private Use; Commercial Use
Key Companies Mentioned: United Parcel Service; DSV A/S; Atlas Air; Cathay Pacific Cargo; Cargo Partner
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- United Parcel Service
- DSV A/S
- Atlas Air
- Cathay Pacific Cargo
- Cargo Partner
- Vietjetair Cargo
- Cargo Air Chartering
- AYR Logistics Limited
- CTS Logistics Group
- ACC Aviation
- Chapman Freeborn
- LunaJets
- Air Partner
- Logistics Plus
- Airports Council International
- CSI Aviation Inc.
- Rhenus Logistics
- Arcus-Air GmbH and Co. KG
- Fliteline B.V.
- Stratos Jet Charters Inc.
- Prescott Support
- Aviocharter
- BitLux
- Air Charter Services Pvt. Ltd.
- Airmacs Aviation
- JALCARGO Charter Service
- Euroasian Cargo Solutions
- XELLZ Air Cargo Charter Services (XACS)
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 10.4 Billion |
| Forecasted Market Value ( USD | $ 14.18 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 28 |
