The North America air cargo market is expected to grow from US$ 31.94 billion in 2022 to US$ 43.20 billion by 2028. It is estimated to grow at a CAGR of 5.2% from 2022 to 2028.
Constant Need to Transport Temperature-Sensitive Products is Fuelling North America Air Cargo Market
The transportation of temperature-sensitive products including drugs, chemicals, and medicines is creating a huge opportunity for the air cargo market. For instance, almost 68% of all biotech products are temperature sensitive. In addition, Marken announced clinical home healthcare services that include clinical drug storage, direct-to-patient delivery, biologic sample collection, central pharmacy, and home care/nursing services. Thus, the pharmaceutical companies are highly dependent on-air transportation due to factors such as time-sensitivity and temperature-controlled transportation. The rapid growth of the pharmaceutical industry resulted in augmenting the demand for transportation services for temperature-sensitive cargo. The demand is anticipated to increase with new pharmaceutical and biotechnology products entering the market every day. Therefore, airlines using advanced cool chain solutions will be well-placed to take full advantage of this sector as it grows. Therefore, airlines can expect increasing demand for shipping services that cater to their specific needs with the pharmaceutical industry is anticipated to increase further in the next several years. The International Air Transport Association (IATA) adopted an initiative to support air cargo sector to comply with the pharmaceutical manufacturers’ requirements. Along with air cargo stakeholders and regulators, the IATA formed the Center of Excellence for independent validators in pharmaceutical logistics. The IATA is highly focused on the compliance, safety, security, and efficiency of pharma transportation by forming recognized pharmaceutical product handling certification. Air cargo service providers are making necessary strides in cold-chain technology to fulfill the North America air cargo market.
North America Air Cargo Market Overview
The US and Canada are the highly advanced economies in North America, and industrialization has been a top priority, as well as a prime contributor to economic growth, in these countries. The US has the world’s most technologically advanced automotive, healthcare, aerospace & defense, and consumer electronics sectors. High-volume manufacturing and allied trades with other nations make it a strategic hub for transportation and logistics-based services. Being economically and technologically robust, companies in North America have large budgets to spend on transportation and logistics-based activities. In addition to this, the presence of a well-established digital infrastructure supports the expansion of the logistic service providers. Retail, food & beverages, and consumer electronics industries in North America are highly dependent on supply chain management providers for end-to-end delivery. The retail and consumer electronics industries in the region have grown due to the elevating spending power of consumers and their willingness to spend on these goods. As a result, the providers of these goods focus on manufacturing the high-quality product and allocate greater budgets for the supply chain management aspect. Lead logistics suppliers or air cargo service providers in North America seek to leverage these budget allocation strategies by various manufacturers and cater to their specific needs.
North America Air Cargo Market Revenue and Forecast to 2028 (US$ Billion)
North America Air Cargo Market Segmentation
The North America air cargo market is segmented based on type, service, end user, and country.
Based on type, the North America air cargo market is segmented into air mail and air freight. The air freight segment held a larger North America air cargo market share in 2022.
Based on service, the North America air cargo market is segmented into express and regular. The regular segment held a larger North America air cargo market share in 2022.
Based on end user, the North America air cargo market is segmented into retail, pharmaceutical & healthcare, food & beverage, consumer electronics, automotive, and others. The others segment held the largest North America air cargo market share in 2022.
Based on country, the North America air cargo market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US dominated the North America 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; and United Parcel Service of America, Inc. are the leading companies operating in the North America air cargo market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 31.94 Billion |
| Market Size by 2028 | US$ 43.20 Billion |
| CAGR (2022 - 2028) | 5.2% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Air Cargo Market is valued at US$ 31.94 Billion in 2022, it is projected to reach US$ 43.20 Billion by 2028.
As per our report North America Air Cargo Market, the market size is valued at US$ 31.94 Billion in 2022, projecting it to reach US$ 43.20 Billion by 2028. This translates to a CAGR of approximately 5.2% during the forecast period.
The North America Air Cargo Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Air Cargo Market report:
The North America Air Cargo Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Air Cargo Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Air Cargo Market value chain can benefit from the information contained in a comprehensive market report.
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