Asia Pacific Air Cargo Market Forecast to 2028 - COVID-19 Impact and Global 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)
The Asia Pacific air cargo market is expected to grow from US$ 38.36 billion in 2022 to US$ 59.30 billion by 2028. It is estimated to grow at a CAGR of 7.5% from 2022 to 2028.
Expanding Airport Infrastructure and New Policies is Fuelling Asia Pacific Air Cargo Market
Air cargo stakeholders have a huge opportunity in Southeast Asian countries such as Singapore, Thailand, and Indonesia. Airports in the Southeast Asian countries are the fastest growing airports. The airports of Singapore, Incheon, Hong Kong, and Taiwan are supporting national carriers to expand air freights and encouraging operators to increase services. These initiatives are expected to reduce the trade with China and increase in some transfer cargo traffic in Taiwan form ASEAN. Companies such as APEX Logistics and SEKO Logistics have strategically expanded their operations in Southeast Asian countries. According to Boeing’s Commercial Market Outlook, the intra-Southeast Asian market by 2039 will be the fifth largest and the vast domestic and regional air network across the region positions it well for a post-pandemic recovery. With the developing policies and infrastructure, it is expected that Southeast Asian countries will exhibit huge opportunity for air cargo vendors during the forecast period. Southeast Asia’s fundamental growth drivers remain robust. The region’s economy has grown by 70% approximately in the last decade that increases propensity to travel with expanding middle-class and growing private consumption. In addition, governments in the region recognize the travel and tourism sectors as one of the most important drivers of economic growth.
Asia Pacific Air Cargo Market Overview
Huge demand for air cargo in Asia Pacific is attributed to the robust economic growth of the region and increased focus on retail enactment. Foreign players prefer Asian countries for the expansion of their manufacturing activities due to the availability of a cheaper workforce. Factors such as continuous urbanization, strong economic growth, and a large middle-class population create high domestic demand for fast-moving consumer goods, personal automobiles, household items, and luxury items. Additionally, companies in the e-commerce market opt for various logistic alternatives, including surface transport and air transport, to deliver items to their clients. Thus, with the flourishment of the e-commerce business, different purchase habits and trends have been noted in various countries in Asia Pacific. The proliferating e-commerce industry is likely to boost the air cargo market in Asia Pacific in the coming years with the rise in demand for parcel delivery services around the region. After several years of trade slack, the marketplace in Asia Pacific entered the recovery phase from 2013 onward, followed by a quick rebound. The marketplace in the region has sustained a strong uptick in air cargo demand with a significant Y-o-Y rise every year. China continues to be a powerhouse for the air cargo market in Asia Pacific due to the high demand from the e-commerce segment. The e-commerce industry in this region focuses on maintaining pace with the global manufacturing sector. However, the depressed passenger business remains a concern. According to the International Air Transport Association (IATA), demand for international air cargo fell by 3.2% in January 2021 compared to the same month in 2019. In addition, the decrease in demand reached 4% in December 2020. Furthermore, airlines in Asia Pacific had the greatest international load factor at 74.0%.
Asia Pacific Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
Asia Pacific Air Cargo Market Segmentation
The Asia Pacific air cargo market is segmented based on type, service, end user, and country.
Based on type, the Asia Pacific air cargo market is segmented into air mail and air freight. The air freight segment held a larger Asia Pacific air cargo market share in 2022.
Based on service, the Asia Pacific air cargo market is segmented into express and regular. The regular segment held a larger Asia Pacific air cargo market share in 2022.
Based on end user, the Asia Pacific air cargo market is segmented into retail, pharmaceutical & healthcare, food & beverage, consumer electronics, automotive, and others. The others segment held the largest Asia Pacific air cargo market share in 2022.
Based on country, the Asia Pacific air cargo market has been categorized into China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China dominated the Asia Pacific air cargo market in 2022.
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 are the leading companies operating in the Asia Pacific air cargo market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Air Cargo Market Landscape
4.1 Market Overview
4.2 Asia Pacific PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Asia Pacific Air Cargo Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Rapid Adoption of E-Commerce Platforms
5.1.2 Constant Need to Transport Temperature-Sensitive Products
5.2 Market Restraints
5.2.1 Market Uncertainty
5.3 Opportunity
5.3.1 Expanding Airport Infrastructure and New Policies
5.4 Future trends
5.4.1 Intelligent Cold Chain Solutions
5.4.2 Implementation of Several Software Solutions
5.5 Impact analysis of drivers & restraints
6. Air Cargo Market – Asia Pacific Analysis
6.1 Asia Pacific Air Cargo Market Overview
6.2 Asia Pacific Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
7. Asia Pacific Air Cargo Market Analysis – By Type
7.1 Overview
7.2 Asia Pacific Air Cargo Market Breakdown, By Type (2021 and 2028)
7.3 Air Mail
7.3.1 Overview
7.3.2 Air Mail: Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
7.4 Air Freight
7.4.1 Overview
7.4.2 Air Freight: Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
8. Asia Pacific Air Cargo Market Analysis– By Service
8.1 Overview
8.2 Asia Pacific Air Cargo Market Breakdown, By Service (2021 and 2028)
8.3 Express
8.3.1 Overview
8.3.2 Express: Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
8.4 Regular
8.4.1 Overview
8.4.2 Regular: Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
9. Asia Pacific Air Cargo Market Analysis – By End User
9.1 Overview
9.2 Asia Pacific Air Cargo Market, By End User (2021 and 2028)
9.3 Retail
9.3.1 Overview
9.3.2 Retail: Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
9.4 Pharmaceutical & Healthcare
9.4.1 Overview
9.4.2 Pharmaceutical & Healthcare: Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
9.5 Food & Beverage
9.5.1 Overview
9.5.2 Food and Beverage: Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
9.6 Consumer Electronics
9.6.1 Overview
9.6.2 Consumer Electronics: Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
9.7 Automotive
9.7.1 Overview
9.7.2 Automotive: Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
9.8 Others
9.8.1 Overview
9.8.2 Others: Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
10. Asia Pacific Air Cargo Market – Country Analysis
10.1 Overview
10.1.1 Asia Pacific: Air Cargo Market, by Key Country
10.1.1.1 Australia: Air Cargo Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.1.1 Australia: Air Cargo Market, by Type
10.1.1.1.2 Australia: Air Cargo Market, by Service
10.1.1.1.3 Australia: Air Cargo Market, by End User
10.1.1.2 China: Air Cargo Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.2.1 China: Air Cargo Market, by Type
10.1.1.2.2 China: Air Cargo Market, by Service
10.1.1.2.3 China: Air Cargo Market, by End User
10.1.1.3 India: Air Cargo Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.3.1 India: Air Cargo Market, by Type
10.1.1.3.2 India: Air Cargo Market, by Service
10.1.1.3.3 India: Air Cargo Market, by End User
10.1.1.4 Japan: Air Cargo Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.4.1 Japan: Air Cargo Market, by Type
10.1.1.4.2 Japan: Air Cargo Market, by Service
10.1.1.4.3 Japan: Air Cargo Market, by End User
10.1.1.5 South Korea: Air Cargo Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.5.1 South Korea: Air Cargo Market, by Type
10.1.1.5.2 South Korea: Air Cargo Market, by Service
10.1.1.5.3 South Korea: Air Cargo Market, by End User
10.1.1.6 Rest of Asia Pacific: Air Cargo Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.6.1 Rest of Asia Pacific: Air Cargo Market, by Type
10.1.1.6.2 Rest of Asia Pacific: Air Cargo Market, by Service
10.1.1.6.3 Rest of Asia Pacific: Air Cargo Market, by End User
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 ANA Cargo
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Cargolux
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Cathay Pacific Airways Limited
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 DHL International GmbH (Deutsche Post DHL Group)
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Emirates SkyCargo
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Etihad Cargo
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 FedEx Corporation
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 United Parcel Service of America, Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Zela Aviation The Air Charter Company
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Lufthansa Cargo AG
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Billion)
Table 2. Asia Pacific Air Cargo Market, by Key Country – Revenue and Forecast to 2028 (US$ Billion)
Table 3. Australia: Air Cargo Market, by Type – Revenue and Forecast to 2028 (US$ Billion)
Table 4. Australia: Air Cargo Market, by Service – Revenue and Forecast to 2028 (US$ Billion)
Table 5. Australia: Air Cargo Market, by End User – Revenue and Forecast to 2028 (US$ Billion)
Table 6. China: Air Cargo Market, by Type – Revenue and Forecast to 2028 (US$ Billion)
Table 7. China: Air Cargo Market, by Service – Revenue and Forecast to 2028 (US$ Billion)
Table 8. China: Air Cargo Market, by End User – Revenue and Forecast to 2028 (US$ Billion)
Table 9. India: Air Cargo Market, by Type – Revenue and Forecast to 2028 (US$ Billion)
Table 10. India: Air Cargo Market, by Service – Revenue and Forecast to 2028 (US$ Billion)
Table 11. India: Air Cargo Market, by End User – Revenue and Forecast to 2028 (US$ Billion)
Table 12. Japan: Air Cargo Market, by Type – Revenue and Forecast to 2028 (US$ Billion)
Table 13. Japan: Air Cargo Market, by Service – Revenue and Forecast to 2028 (US$ Billion)
Table 14. Japan: Air Cargo Market, by End User – Revenue and Forecast to 2028 (US$ Billion)
Table 15. South Korea: Air Cargo Market, by Type – Revenue and Forecast to 2028 (US$ Billion)
Table 16. South Korea: Air Cargo Market, by Service – Revenue and Forecast to 2028 (US$ Billion)
Table 17. South Korea: Air Cargo Market, by End User – Revenue and Forecast to 2028 (US$ Billion)
Table 18. Rest of Asia Pacific: Air Cargo Market, by Type – Revenue and Forecast to 2028 (US$ Billion)
Table 19. Rest of Asia Pacific: Air Cargo Market, by Service – Revenue and Forecast to 2028 (US$ Billion)
Table 20. Rest of Asia Pacific: Air Cargo Market, by End User – Revenue and Forecast to 2028 (US$ Billion)
Table 21. List of Abbreviation
LIST OF FIGURES
Figure 1. Asia Pacific Air Cargo Market Segmentation
Figure 2. Asia Pacific Air Cargo Market Segmentation – By Country
Figure 3. Asia Pacific Air Cargo Market Overview
Figure 4. Asia Pacific Air Cargo Market – By Type
Figure 5. Asia Pacific Air Cargo Market – By Country
Figure 6. Asia-Pacific- PEST Analysis
Figure 7. Asia Pacific Air Cargo Market – Ecosystem Analysis
Figure 8. Expert Opinions
Figure 9. Impact Analysis of Drivers and Restraints
Figure 10. Asia Pacific Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
Figure 11. Asia Pacific Air Cargo Market Breakdown, By Type (2021 and 2028)
Figure 12. Air Mail: Asia Pacific Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
Figure 13. Air Freight: Asia Pacific Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
Figure 14. Asia Pacific Air Cargo Market Breakdown, By Service (2021 and 2028)
Figure 15. Express: Asia Pacific Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
Figure 16. Regular: Asia Pacific Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
Figure 17. Asia Pacific Air Cargo Market Breakdown, By End User (2021 and 2028)
Figure 18. Retail: Asia Pacific Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
Figure 19. Pharmaceutical & Healthcare: Asia Pacific Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
Figure 20. Food and Beverage: Asia Pacific Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
Figure 21. Consumer Electronics: Asia Pacific Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
Figure 22. Automotive: Asia Pacific Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
Figure 23. Others: Asia Pacific Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
Figure 24. Asia Pacific: Air Cargo Market, by Key Country – Revenue (2021) (US$ ‘Million)
Figure 25. Asia Pacific: Air Cargo Market Revenue Share, by Key Country (2021 and 2028)
Figure 26. Australia: Air Cargo Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 27. China: Air Cargo Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 28. India: Air Cargo Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 29. Japan: Air Cargo Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 30. South Korea: Air Cargo Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 31. Rest of Asia Pacific: Air Cargo Market – Revenue and Forecast to 2028 (US$ Billion)
- 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.
- Zela Aviation The Air Charter Company
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific air cargo market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific air cargo market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution