Europe Air Cargo Market to Grow at a CAGR of 6.1% to reach US$ 43.29 billion from 2022 to 2028

Europe 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 and Healthcare, Food and Beverage, Consumer Electronics, Automotive, and Others)

Publication Month : Dec 2022

  • Report Code : TIPRE00005040
  • Category : Automotive and Transportation
  • Status : Published
  • No. of Pages : 154
Inquire Before Buy

PRICING

$3000

$2400

The Europe air cargo market is expected to grow from US$ 30.27 billion in 2022 to US$ 43.29 billion by 2028; it is estimated to grow at a CAGR of 6.1% from 2022 to 2028.

The growing demand for air cargo across European countries owing to demand for different products from the e-commerce platforms is catalyzing the growth of Europe air cargo market across the region. Moreover, the airlines operating across the Europe air cargo market are also focusing on introducing new air cargo solutions for their respective customers to cater to the customers’ demands to remain competitive in the market. Also, the Europe air cargo market players have been pushing their existing capacities to expand their air cargo volumes to cater to the increasing cargo volume traffic worldwide. This is also leading to the procurement of new aircraft models by air freight companies for expanding their respective cargo fleet. For instance, in November 2021, CMA CGM AIR CARGO placed an order for 4 new Airbus A350F aircraft that will be used for expanding its air cargo operations across its services.

Further, the growing air cargo traffic (CTK) across Europe is another major factor likely to generate new market opportunities for Europe air cargo market players during the forecast period. In addition, according to the Boeing's 2022 World Air Cargo Forecast (WACF), Europe accounted for 20% of the global air cargo volume reaching a value of around 57 billion RTK (Revenue Tonne Kilometer) in 2021. This is driven by the growth in the air cargo volume from cross country cargo operations. For instance, according to the WACF, East Asia-Europe cargo volumes are expected to witness a growth of 4.5% during 2022-2041. Similarly, according to the same source, Middle East-Europe cargo volumes are expected to witness a growth of 2.3% during 2022-2041. Such instances are likely to generate new market opportunities for Europe air cargo players during the forecast period.

Further, regulatory enforcement, including customs departments, represents a major challenge such as potentially slowing a shipment delivery or requiring shipping containers to be opened for inspection. Moreover, the temporary ban on social gatherings and shutdown of stores, restaurants, grocery shops, gardening centers, theatres, and concerts have led consumers to shop online. The consumers' behavior has changed toward online retail. For instance, according to the International Trade Association e-commerce registered 18% of the total retail sales volume in 2020 and continues to increase worldwide. All these factors have catalyzed the Europe air cargo market growth in 2020.

Air Cargo Market - 

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Europe Air Cargo Market: Strategic Insights

europe-air-cargo-market
Market Size Value inUS$ 30.27 Billion in 2022
Market Size Value byUS$ 43.29 Billion by 2028
Growth rateCAGR of 6.1% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
Analyst Image

Naveen

Have a question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

Impact of COVID-19 Pandemic on Air Cargo Market

 

Europe is characterized by a large number of developing countries, a high industrial presence, and a positive economic outlook. Air cargo demand has witnessed growth in the region since the onset of the COVID-19 crisis, as France and other countries have been a major contributor to the Europe air cargo market growth. The recovery of Europe international cargo tonne-kilometers (CTKs) slightly accelerated as airlines added more capacity to the routes. In addition, according to IATA, international air cargo grew by 10.5% in February 2021 compared to the same month in 2019. Furthermore, the region’s airlines reported the highest international load factor at 74.0% in 2021. Hence, the COVID-19 pandemic is positively impacting the air cargo market in Europe.

Lucrative Regions for Air Cargo Market

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities
Market Insights – Air Cargo Market

Europe has one of the world’s leading aviation sectors, which signifies the rise in the demand for air cargo across the region. The presence of several air cargo companies such as Cargolux, DHL, FedEx Express, Lufthansa Cargo, and Air France KLM is one of the major factors contributing to the growth of the Europe air cargo market. Moreover, the demand for air cargo across the region is also driven by the increasing cross-border air cargo operations and connectivity of European countries to Asian and North American countries.

End User-Based Insights

Based on end user, the air cargo market is further segmented into retail, pharmaceutical and healthcare, food and beverage, consumer electronics, automotive, and others. Pharmaceutical and healthcare segment is expected to dominate the Europe air cargo market in 2022 and it is expected to witness highest CAGR to drive the Europe air cargo market growth during the forecast period.

The Europe air cargo market size is segmented on the basis of type, service, end user, and country. In terms of type, the Europe air cargo market is bifurcated into air mail and air freight. Based on service, the Europe air cargo market size is bifurcated into express and regular. Based on end user, the Europe air cargo market is segmented into retail, pharmaceutical and healthcare, food and beverage, consumer electronics, automotive, and others. By country, the Europe air cargo market is primarily segmented into France, Germany, the UK, Italy, Russia, and the Rest of Europe.

Some of the key Europe air cargo market players include Turkish Cargo, DHL International, Air France KLM Martinair Cargo, United Parcel Services Inc, and FedEx Corporation.

The Europe air cargo market players are mainly focused on providing reliable and efficient air cargo services to their respective customers across the region. For instance:

  • In October 2022, Cargolux placed an order for 10 Boeing B777-8F freighters and six options as it looks to replace its older quadjet aircraft fleet.
  • In 2021,KLM introduced an innovative Cargo Seat Bag (CSB). It is a user-friendly, easy-to-install, and removable cargo seat bag. It was designed in collaboration with the product developer and supplier Trip & Co. It protects the interior, seats, and entertainment systems; doubles the seats' loading capacity; decreases physical strain during handling; and prevents plastic waste.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Service, and End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

France, Germany, Italy, Russian Federation, United Kingdom

Frequently Asked Questions


What is the estimated Europe market size for the air cargo market in 2022?

The estimated Europe market size for the air cargo market in 2022 is expected to be around US$ 30.27 billion

What are the driving factors impacting the air cargo market?

1. Speedy adoption of e-commerce platforms
2. Continuous need to transport temperature-sensitive products

What is the future trend in the Europe air cargo market?

1. Rational cool chain solutions
2. Execution of several software solutions

Which are the key players holding the major market share of air cargo market?

Turkish Cargo, DHL International, Air France KLM Martinair Cargo, United Parcel Services Inc, and FedEx Corporation are the key market players expected to hold a major market share of Europe air cargo market in 2022

Which is the fastest growing country market?

The UK is expected to register highest CAGR in the Europe air cargo market during the forecast period (2022-2028)

Which countries are registering a high growth rate during the forecast period?

The UK, Italy, and France are expected to register high growth rate during the forecast period

Which country is holding the major market share of air cargo market?

France is expected to hold a major market share of Europe air cargo market in 2022

Which is the leading air cargo type segment in the Europe air cargo market?

Air freight segment is expected to hold a major market share of air cargo market in 2022

What will be the Europe market size of air cargo market by 2028?

The Europe market size of air cargo market by 2028 will be around US$ 43.29 billion

What is the incremental growth of the Europe air cargo market during the forecast period?

The air cargo market is expected to register an incremental growth value of US$ 13.02 billion during the forecast period

The List of Companies - Europe Air Cargo Market

  1. Cargolux
  2. Lufthansa Cargo AG
  3. DHL International GmbH
  4. IAG Cargo
  5. Air France KLM SA
  6. European Cargo Ltd.
  7. FedEx Corporation
  8. Turk Hava Yollari Anonim Ortaklig
  9. SAS Cargo Group
  10. United Parcel Service of America Inc

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Europe Air Cargo Market