Global Freight Chartered Air Transport Market Size 2024, Forecast To 2033
11 Mar, 2024
The freight chartered air transport market has experienced rapid growth, surging from $27.07 billion in 2023 to $30.19 billion in 2024, reflecting a compound annual growth rate (CAGR) of 11.5%. This historic period's growth can be attributed to the robust economic expansion in emerging markets, the proliferation of air cargo transportation, and delays in ocean shipping. Looking ahead, the market is poised for rapid growth, reaching $46.35 billion in 2028 with a CAGR of 11.3%. The forecast period's growth is linked to government support, rising urbanization, and the advantages of freight chartered air transport over other modes of freight transportation. Key trends for the forecast period involve a focus on business expansion, partnerships, collaborations, mergers and acquisitions, and the launch of new cargo centers, shaping the trajectory of the freight chartered air transport industry.
Global Freight Chartered Air Transport Market Key Driver
The growing demand for the urgent shipment of dangerous goods and hazardous materials is expected to drive the freight chartered air transport market. In 2023, the market size for freight chartered air transport is influenced by the sensitive nature of these goods, encompassing explosives, highly flammable gases, radioactive materials, and military items. Specialized knowledge and skills are crucial for shipping toxic and infectious substances, leading to the transportation of such goods through chartered cargo to mitigate the risk of explosions and contamination. Notably, in 2024, the Federal Aviation Administration (FAA) in the USA granted authority for chartered cargo services, including employee training under a part-135 certificate, operating on demand within an FAA-approved hazardous materials program. This proactive approach is expected to significantly contribute to the growth of the freight chartered air transport market.
Get A Free Sample Of The Global Freight Chartered Air Transport Market ReportGlobal Freight Chartered Air Transport Market Segments
The freight chartered air transport market covered in this report is segmented –
1) By Cargo Type: Heavy And Outsize Cargo, Dangerous Cargo, Animal Transportation, Other Cargo Types
2) By Application: Private Use, Commercial Use
3) By End Use: Individuals, Sports Teams, Large Corporations
By Geography:The regions covered in the freight chartered air transport market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
North America was the largest region in the freight chartered air transport services market in 2023. Asia-Pacific was the second largest region in the global freight chartered air transport services market. The regions covered in the freight chartered air transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Freight Chartered Air Transport Industry Players
Atlas Air Worldwide Holdings, Cathay Pacific Airways Ltd, Air Transport Services Group Inc., Air Charter Service, Garuda Indonesia, ACC Aviation Ltd, Jet edge International, Air Partner, Thai Airways International Public Co., Ltd., Cargo Air Chartering, C R V Air Services, AFM Logistics Pvt Ltd, Shiprocket, Kerryindev Logistics Pvt Ltd, Schenker International (H.K) Limited, Japan Airlines Co Ltd, Nippon Express, JHJ International Transportation Co Ltd, SINO Shipping, PDS International Pvt Ltd, Air China Cargo Co Ltd, SNCF Voyageurs, Air France-KLM Group, DPDgroup, Air France, CEVA Logistics, Geodis Freight & Logistics Services, RATP Dev, Transdev Group, Haulystic Ltd, Expeditors, Alinnza Trading London Ltd, Barrington Freight Ltd, Kite Freight Services, RWorld Express, Cool Cargo UK, United Aircraft Corporation (UAC), FedEx Corporation, United Parcel Service, A.P. Moller – Mærsk A/S, Stratos Jet Charters Inc, Cainiao Smart Logistics Network Limited, Air Cargo Charter Company, Bu Shames FZE, Iraq Gate Company, MATEEN Express, Fridenson Logistic Services Ltd, Challenge Airlines (IL) Ltd, South African Airways Cargo, Ethiopian Airlines Cargo
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Freight Chartered Air Transport Market Overview
Freight chartered air transport is a mode of transportation that uses aircraft, such as planes and helicopters, to provide chartered (non-scheduled) air transportation services for passengers and/or cargo for a fee per mile or hour for the charter of the aircraft, which includes renting an aircraft for a tour.
Freight Chartered Air Transport Global Market Report 2023 provides data on the global freight chartered air transport market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The freight chartered air transport market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.