Report : Middle East & Africa Air Cargo Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Air Mail and Air Freight), Service (Express and Regular), and End User (Retail, Pharmaceutical & Healthcare, Food & Beverage, Consumer Electronics, Automotive, and Others)
At 4.2% CAGR, the Middle East & Africa Air Cargo Market is speculated to be worth US$ 22.07 billion by 2028, says The Business Market Insights
According to the Business Market Insights’ research, the Middle East & Africa air cargo market was valued at US$ 17.21 billion in 2022 and is expected to reach US$ 22.07 billion by 2028, registering a CAGR of 4.2% from 2022 to 2028. Expanding airport infrastructure and new policies and intelligent cold chain solutions are the critical factors attributed to the Middle East & Africa air cargo market expansion.
Logistic is a complex process which involves the flow of multiple goods and information across the network of suppliers, carriers, and warehouse. This complexity can be handled using software systems which allow analyzing real-time and real-world data. This implementation of software systems improves the supply chain and offers real-time visibility. Increased competitiveness in the industry is the major reason for Air Cargo Market players investing in automation and digitization. Moreover, the adoption of the RFID enabled devices is expected to store data for easy transport, which will also simplify tracking & identification of products. Software related to transportation management system will reduce the inefficiency and costs with saving time for operations. Few of the trends expected to boost the air cargo market during the forecast period are blockchain for pharma logistics, artificial intelligence, and predictive analysis implementation in logistics operations, among others.
On the contrary, market uncertainty hurdles the growth of Middle East & Africa air cargo market.
Based on type, the Middle East & Africa air cargo market is segmented into air mail and air freight. The air freight segment held 82.3% share of Middle East & Africa air cargo market in 2022, amassing US$ 14.16 billion. It is projected to garner US$ 18.38 billion by 2028 to expand at 4.4% CAGR during 2022–2028.
Based on service, the Middle East & Africa air cargo market is segmented into express and regular. The regular segment held 55.3% share of Middle East & Africa air cargo market in 2022, amassing US$ 9.52 billion. It is projected to garner US$ 11.89 billion by 2028 to expand at 3.8% CAGR during 2022–2028.
Based on end user, the Middle East & Africa air cargo market is segmented into retail, pharmaceutical & healthcare, food & beverage, consumer electronics, automotive, and others. The others segment held 23.1% share of Middle East & Africa air cargo market in 2022, amassing US$ 3.97 billion. It is projected to garner US$ 4.42 billion by 2028 to expand at 1.8% CAGR during 2022–2028.
Based on country, the Middle East & Africa air cargo market has been categorized into the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 35.8% share of Middle East & Africa air cargo market in 2022. It was assessed at US$ 6.16 billion in 2022 and is likely to hit US$ 7.77 billion by 2028, exhibiting a CAGR of 3.9% during the forecast period.
Key players dominating the Middle East & Africa air cargo market are ANA Cargo; Cargolux; Cathay Pacific Airways Limited; DHL International GmbH (Deutsche Post DHL Group); Emirates SkyCargo; Etihad Cargo; FedEx Corporation; Lufthansa Cargo AG; United Parcel Service of America, Inc.; and Zela Aviation The Air Charter Company among others.
- In 2021, Lufthansa Cargo is expanding its extremely efficient freighter fleet with the addition of another brand-new Boeing 777F aircraft. The plane is expected to arrive before the end of the year. Customers of Lufthansa Cargo will then have access to a total of fifteen full-freighters.
- In 2022, DHL Express continues to strengthen its global aviation network with the purchase of eight additional Boeing 777 Freighters.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com