This report describes and explains the freight chartered air transport market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.
The global freight chartered air transport market reached a value of nearly $24,213.0 million in 2022, having grown at a compound annual growth rate (CAGR) of 12.6% since 2017. The market is expected to grow from $24,213.0 million in 2022 to $41,917.2 million in 2027 at a rate of 11.6%. The market is then expected to grow at a CAGR of 12.5% from 2027 and reach $75,525.7 million in 2032.
Growth in the historic period resulted from strong economic growth in emerging markets, growth of air cargo transportation and ocean shipping delays. Factors that negatively affected growth in the historic period were high prices for cargo flight services.
Going forward, government support, rising urbanization and benefits of freight chartered air transport over other modes of freight transportation will drive the growth. Factors that could hinder the growth of the freight chartered air transport market in the future include fluctuating fuel prices.
The freight chartered air transport market is segmented by cargo type into heavy and outsize cargo, dangerous cargo, animal transportation and other cargo types. The other cargo types market was the largest segment of the freight chartered air transport market segmented by cargo type, accounting for 55.0% of the total in 2022. Going forward, the other cargo types segment is expected to be the fastest growing segment in the freight chartered air transport market segmented by cargo type, at a CAGR of 12.1% during 2022-2027.
The freight chartered air transport market is segmented by application into private use and commercial use. The commercial use market was the largest segment of the freight chartered air transport market segmented by application, accounting for 79.4% of the total in 2022. Going forward, the private use segment is expected to be the fastest growing segment in the freight chartered air transport market segmented by application, at a CAGR of 12.6% during 2022-2027.
The freight chartered air transport market is segmented by end use into individuals, sports teams and large corporations. The large corporations market was the largest segment of the freight chartered air transport market segmented by end use, accounting for 53.7% of the total in 2022. Going forward, the sports teams segment is expected to be the fastest growing segment in the freight chartered air transport market segmented by end use, at a CAGR of 12.5% during 2022-2027.
North America was the largest region in the freight chartered air transport market, accounting for 42.8% of the total in 2022. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the freight chartered air transport market will be North America and Western Europe where growth will be at CAGRs of 13.1% and 11.3% respectively. These will be followed by Asia Pacific and Eastern Europe where the markets are expected to grow at CAGRs of 10.7% and 9.7% respectively.
The freight chartered air transport market is fragmented, with a large number of small players. The top ten competitors in the market made up to 5.60% of the total market in 2021. Atlas Air Worldwide Holdings was the largest competitor with 3.42% share of the market, followed by Cathay Pacific Airways Ltd. with 1.09%, Air Transport Services Group Inc. with 0.28%, Air Charter Service with 0.24%, Garuda Indonesia with 0.15%, ACC Aviation Ltd with 0.12%, Jet edge International with 0.11%, Air Partner with 0.09%, Thai Airways International Public Co., Ltd. with 0.08%, and Cargo Air Chartering with 0.02%.
The top opportunities in the freight chartered air transport market segmented by cargo type will arise in the other cargo types segment, which will gain $10,301.7 million of global annual sales by 2027 The top opportunities in the freight chartered air transport market segmented by application will arise in the commercial use segment, which will gain $13,684.5 million of global annual sales by 2027. The top opportunities in the freight chartered air transport market segmented by end use will arise in the large corporations segment, which will gain $9,852.8 million of global annual sales by 2027. The freight chartered air transport market size will gain the most in the USA at $7,854.6 million.
Market-trend-based strategies for the freight chartered air transport market include focus on business expansion, partnerships and collaborations, mergers and acquisitions and launch of new cargo centers.
Player-adopted strategies in the freight chartered air transport market include strengthening business operations through securing various new contracts.
To take advantage of the opportunities, the publisher recommends the freight chartered air transport companies to focus on eVTOL (electric vertical take-off and landing) aircraft in cargo applications, focus on developing new cargo centers, continue to focus on developed markets, expand in high altitude/rough terrains, focus on mergers and acquisitions, focus on partnerships and collaborations, provide competitively priced offerings, focus on dynamic pricing, participate in trade shows and events, continue to use B2B promotions and continue to target fast-growing end-users.
The global freight chartered air transport market reached a value of nearly $24,213.0 million in 2022, having grown at a compound annual growth rate (CAGR) of 12.6% since 2017. The market is expected to grow from $24,213.0 million in 2022 to $41,917.2 million in 2027 at a rate of 11.6%. The market is then expected to grow at a CAGR of 12.5% from 2027 and reach $75,525.7 million in 2032.
Growth in the historic period resulted from strong economic growth in emerging markets, growth of air cargo transportation and ocean shipping delays. Factors that negatively affected growth in the historic period were high prices for cargo flight services.
Going forward, government support, rising urbanization and benefits of freight chartered air transport over other modes of freight transportation will drive the growth. Factors that could hinder the growth of the freight chartered air transport market in the future include fluctuating fuel prices.
The freight chartered air transport market is segmented by cargo type into heavy and outsize cargo, dangerous cargo, animal transportation and other cargo types. The other cargo types market was the largest segment of the freight chartered air transport market segmented by cargo type, accounting for 55.0% of the total in 2022. Going forward, the other cargo types segment is expected to be the fastest growing segment in the freight chartered air transport market segmented by cargo type, at a CAGR of 12.1% during 2022-2027.
The freight chartered air transport market is segmented by application into private use and commercial use. The commercial use market was the largest segment of the freight chartered air transport market segmented by application, accounting for 79.4% of the total in 2022. Going forward, the private use segment is expected to be the fastest growing segment in the freight chartered air transport market segmented by application, at a CAGR of 12.6% during 2022-2027.
The freight chartered air transport market is segmented by end use into individuals, sports teams and large corporations. The large corporations market was the largest segment of the freight chartered air transport market segmented by end use, accounting for 53.7% of the total in 2022. Going forward, the sports teams segment is expected to be the fastest growing segment in the freight chartered air transport market segmented by end use, at a CAGR of 12.5% during 2022-2027.
North America was the largest region in the freight chartered air transport market, accounting for 42.8% of the total in 2022. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the freight chartered air transport market will be North America and Western Europe where growth will be at CAGRs of 13.1% and 11.3% respectively. These will be followed by Asia Pacific and Eastern Europe where the markets are expected to grow at CAGRs of 10.7% and 9.7% respectively.
The freight chartered air transport market is fragmented, with a large number of small players. The top ten competitors in the market made up to 5.60% of the total market in 2021. Atlas Air Worldwide Holdings was the largest competitor with 3.42% share of the market, followed by Cathay Pacific Airways Ltd. with 1.09%, Air Transport Services Group Inc. with 0.28%, Air Charter Service with 0.24%, Garuda Indonesia with 0.15%, ACC Aviation Ltd with 0.12%, Jet edge International with 0.11%, Air Partner with 0.09%, Thai Airways International Public Co., Ltd. with 0.08%, and Cargo Air Chartering with 0.02%.
The top opportunities in the freight chartered air transport market segmented by cargo type will arise in the other cargo types segment, which will gain $10,301.7 million of global annual sales by 2027 The top opportunities in the freight chartered air transport market segmented by application will arise in the commercial use segment, which will gain $13,684.5 million of global annual sales by 2027. The top opportunities in the freight chartered air transport market segmented by end use will arise in the large corporations segment, which will gain $9,852.8 million of global annual sales by 2027. The freight chartered air transport market size will gain the most in the USA at $7,854.6 million.
Market-trend-based strategies for the freight chartered air transport market include focus on business expansion, partnerships and collaborations, mergers and acquisitions and launch of new cargo centers.
Player-adopted strategies in the freight chartered air transport market include strengthening business operations through securing various new contracts.
To take advantage of the opportunities, the publisher recommends the freight chartered air transport companies to focus on eVTOL (electric vertical take-off and landing) aircraft in cargo applications, focus on developing new cargo centers, continue to focus on developed markets, expand in high altitude/rough terrains, focus on mergers and acquisitions, focus on partnerships and collaborations, provide competitively priced offerings, focus on dynamic pricing, participate in trade shows and events, continue to use B2B promotions and continue to target fast-growing end-users.
Table of Contents
1. Executive Summary2. Table Of Contents3. List Of Figures4. List Of Tables5. Report Structure18. Competitive Landscape and Company Profiles
6. Introduction And Market Characteristics
7. Major Market Trends
8. Global Market Size and Growth
9. Global Freight Chartered Air Transport Market Segmentation
10. Freight Chartered Air Transport Market, Regional and Country Analysis
11. Asia-Pacific Market
12. Western Europe Market
13. Eastern Europe Market
14. North America Market
15. South America Market
16. Middle East Market
17. Africa Market
19. Company Profiles
20. Key Mergers and Acquisitions
21. Opportunities And Strategies
22. Freight Chartered Air Transport Market, Conclusions And Recommendations
23. Appendix
Executive Summary
Freight Chartered Air Transport Global Market Opportunities And Strategies To 2032 provides the strategists; marketers and senior management with the critical information they need to assess the global freight chartered air transport market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- 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 research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
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Description:
Where is the largest and fastest growing market for freight chartered air transport? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The freight chartered air transport market global 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. It places the market within the context of the wider freight chartered air transport market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics
- Key Trends
- Global Market Size and Growth
- Regional Analysis
- Market Segmentation
- Regional Market Size and Growth
- Competitive Landscape
- Key Mergers and Acquisitions
- Market Opportunities And Strategies
- Conclusions And Recommendations
- Appendix
Scope:
Markets Covered:
1) By Cargo Type: Heavy; Outsize Cargo; Dangerous Cargo; Animal Transportation; Other Cargo Types2) By Application: Private Use; Commercial Use
3) By End Use: Individuals; Sports Teams; Large Corporations
Companies Mentioned: Atlas Air Worldwide Holdings; Cathay Pacific Airways Ltd.; Air Transport Services Group Inc.; Air Charter Service; Garuda Indonesia
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
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; freight chartered air transport indicators comparison.
Data segmentations: 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.
Companies Mentioned
- Atlas Air Worldwide Holdings
- Cathay Pacific Airways Ltd
- Air Transport Services Group Inc.
- Air Charter Service
- Garuda Indonesia
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 284 |
| Published | May 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 24213 Million |
| Forecasted Market Value ( USD | $ 75525.7 Million |
| Compound Annual Growth Rate | 12.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
