According to a new report by Expert Market Research titled, ‘Global Air Freight Market Report and Forecast 2020-2025’, the global air freight market reached a volume of almost 69.7 million metric tons in 2019. The market is predicted to grow at a CAGR of 12% in the forecast period of 2020-2025 to reach a volume of around 137.5 million metric tons by 2025.
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The global air freight market is driven by the rise in the various end-use industries, comprising of electrical, personal care, machinery, and automobile equipment industries, among others. The North America region is a significant market for air freight, with the United States leading the region. The rising investments in Southeast Asian nations by the freight forwarders is expected to support market growth. In the Southeast Asian countries, the investments are increasing due to a healthy demand and high growth potential in the region. The rising consumer and retail industries are also driving the air freight market. The robust demand for products sourced from e-retail platforms like Amazon (NASDAQ: AMZN) across the world is, thus, propelling the growth of the air freight market further.
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Market Analysis by Region:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
Competitive Landscape & Supplier Analysis:
- Deutsche Post AG (OTCMKTS: DPSGY)
- Kuehne + Nagel International AG (OTCMKTS: KHNGY)
- Panalpina World Transport (Holding) Ltd.
- Expeditors International of Washington, Inc (NASDAQ: EXPD)
- DB Schenker
- Agility
- Kintetsu World Express, Inc.
- CEVA Logistics
- Others
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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