Air Freight Forwarding Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The report covers Global Air Freight Forwarder Market Share and is segmented by Geography (North America (United States, Canada and Mexico), Europe (Germany, France, Netherlands, United Kingdom, Italy and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, Singapore, Malaysia, Indonesia, South Korea and Rest of Asia-Pacific), Middle East & Africa (South Africa, Egypt, GCC Countries and Rest of Middle East & Africa), South America (Brazil, Chile and Rest of South America)).

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Air Freight Forwarding Market Size

air freight forwarding market size
Study Period 2019 - 2028
Market Size (2023) USD 106.64 Billion
Market Size (2028) USD 141.68 Billion
CAGR (2023 - 2028) 5.85 %
Fastest Growing Market North America
Largest Market Asia Pacific

Major Players

air freight forwarding companies

*Disclaimer: Major Players sorted in no particular order
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Air Freight Forwarding Market Analysis

The Air Freight Forwarding Market size is estimated at USD 106.64 billion in 2023, and is expected to reach USD 141.68 billion by 2028, growing at a CAGR of 5.85% during the forecast period (2023-2028).

Although land and ship cargo transportation remain as favorable options, goods transport by air is considered as the quickest and the unhindered mode of transportation. In 2018, cargo volumes grew by 4.1% to 63.7 million tons. In terms of freight tons-kilometers (FTK), Airfreight returned to growth in March 2019 after three months of year-on-year declines. However, the cargo sector benefited from lower costs in 2019. Due to Covid-19, the air freight transport had witnessed significant effect as the movements of aircrafts were restricted. However, with the improvement in economy, the market is expected to pick-up growth going forward. 

Air Freight Forwarding Market Trends

This section covers the major market trends shaping the Air Freight Forwarding Market according to our research experts:

Rising Free Trade Agreements benefits Air Freight Market

Following somewhat slow growth in the early 2010’s, the global volume of air freight has increased rapidly in recent years with freight volumes reaching 61.3 million metric tons in 2019. One of the reasons for rising volumes of air freight is the rising number of free trade agreements worldwide. 

The international trade agreements have great value as they help eliminate artificial barriers to trade such as tariffs, quotas and protective subsidies. Emerging array of multilateral preferential trading arrangements such as the North American Free Trade Agreement (NAFTA), the Latin American Free Trade Association, Association of Southeast Asian Nations Free Trade Area (AFTA) and many more have greatly affected the ease of doing business in today’s world. 

The latest agreement is the Trans-Pacific Partnership (TPP). Once fully ratified, the Trans-Pacific Partnership is set to become the world’s largest trade agreement. The TPP already covers 40% of global GDP, and trade between member nations is already significant. The TPP aims to cut tariffs, regulatory barriers to trade and removal of customs duties. By removing tariffs and other barriers to trade, the agreement hopes to further develop economic ties and boost economic growth.

air freight forwarding market trends

APAC Largest Contributor to Air Freight

In 2018, cargo traffic at airports in the Asia-Pacific region accounted for the largest share of cargo traffic worldwide, with around 48.5 million tons handled. APAC was the largest airfreight forwarding market in 2019, and the region will offer several growth opportunities to market vendors during the coming years. Increasing demand for cross-border e-commerce will significantly influence airfreight forwarding market growth in this region. At present, almost 68% of the market’s growth originates from APAC. China and Japan are the key markets for airfreight forwarding in APAC. Manufacturing in China and Japan has increased due to increased demand for their exports throughout 2017. This was possible due to a surge in economic activity in Europe and continued robust performance from the U.S. The Market growth in this region is expected to be faster than the growth of the market in other regions.

air freight forwarding market share

Air Freight Forwarding Industry Overview

The Air Freight Forwarding Market is highly competitive and is relatively concentrated with presence of large international players. Most of the service providers are offering bundled solutions, such as packaging, labeling, documentation, and charter services, among others, along with freight transportation. Some of the existing major players in the market include – DHL Supply Chain & Global Forwarding, Kuehne + Nagel, DB Schenker Logistics, DSV Panalpina, UPS Supply Chain Solutions, Expeditors International, Nippon Express, Bolloré Logistics, Hellmann Worldwide Logistics and Kintetsu World Express.

Air Freight Forwarding Market Leaders

  1. Kuehne + Nagel

  2. DB Schenker

  3. DSV Panalpina

  4. UPS Supply Chain Solutions

  5. Nippon Express

*Disclaimer: Major Players sorted in no particular order

Kuehne + Nagel, DB Schenker Logistics, DSV Panalpina, UPS Supply Chain Solutions, Expeditors International, Nippon Express.
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Air Freight Forwarding Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

    1. 2.1 Analysis Methodology

    2. 2.2 Research Phases

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Current Market Scenario

    2. 4.2 Value Chain / Supply Chain Analysis

    3. 4.3 Technological Trends

    4. 4.4 Investment Scenarios

    5. 4.5 Government Regulations and Initiatives

    6. 4.6 Spotlight - Air Freight Transportation Costs/Freight Rates

    7. 4.7 Insights on the E-commerce Industry

    8. 4.8 Impact of Covid-19 on Air Freight Forwarding Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Drivers

    2. 5.2 Restraints

    3. 5.3 Opportunities

    4. 5.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 5.4.1 Bargaining Power of Suppliers

      2. 5.4.2 Bargaining Power of Consumers

      3. 5.4.3 Threat of New Entrants

      4. 5.4.4 Threat of Substitutes

      5. 5.4.5 Intensity of Competitive Rivalry

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Geography

      1. 6.1.1 North America

        1. 6.1.1.1 United States

        2. 6.1.1.2 Canada

        3. 6.1.1.3 Mexico

      2. 6.1.2 Europe

        1. 6.1.2.1 Germany

        2. 6.1.2.2 France

        3. 6.1.2.3 Belgium

        4. 6.1.2.4 United Kingdom

        5. 6.1.2.5 Italy

        6. 6.1.2.6 Rest of Europe

      3. 6.1.3 Asia-Pacific

        1. 6.1.3.1 China

        2. 6.1.3.2 Japan

        3. 6.1.3.3 Australia

        4. 6.1.3.4 India

        5. 6.1.3.5 Singapore

        6. 6.1.3.6 Malaysia

        7. 6.1.3.7 Indonesia

        8. 6.1.3.8 South Korea

        9. 6.1.3.9 Rest of Asia-Pacific

      4. 6.1.4 Middle East & Africa

        1. 6.1.4.1 South Africa

        2. 6.1.4.2 Egypt

        3. 6.1.4.3 GCC Countries

        4. 6.1.4.4 Rest of Middle East & Africa

      5. 6.1.5 South America

        1. 6.1.5.1 Brazil

        2. 6.1.5.2 Chile

        3. 6.1.5.3 Rest of South America

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Market Concentration Overview

    2. 7.2 Company Profiles

      1. 7.2.1 DHL Supply Chain & Global Forwarding

      2. 7.2.2 Kuehne + Nagel

      3. 7.2.3 DB Schenker Logistics

      4. 7.2.4 DSV Panalpina

      5. 7.2.5 UPS Supply Chain Solutions

      6. 7.2.6 Expeditors International

      7. 7.2.7 Nippon Express

      8. 7.2.8 Bolloré Logistics

      9. 7.2.9 Hellmann Worldwide Logistics

      10. 7.2.10 Kintetsu World Express*

    3. *List Not Exhaustive

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

  9. 9. DISCLAIMER

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Air Freight Forwarding Industry Segmentation

Air Freight Forwarding Market report provides insights on the market like Market Overview, Market Dynamics, Value Chain / Supply Chain Analysis, Technological Trends, Investment Scenarios, Government Regulations and Initiatives, Spotlight - Air Freight Transportation Costs/Freight Rates, Insights on the E-commerce Industry, Impact of Covid-19 on Air Freight Forwarding Market and Industry Attractiveness - Porter's Five Forces Analysis.

Furthermore, the report also provides company profiles with leading market players to understand the competitive landscape of the market.

By Geography
North America
United States
Canada
Mexico
Europe
Germany
France
Belgium
United Kingdom
Italy
Rest of Europe
Asia-Pacific
China
Japan
Australia
India
Singapore
Malaysia
Indonesia
South Korea
Rest of Asia-Pacific
Middle East & Africa
South Africa
Egypt
GCC Countries
Rest of Middle East & Africa
South America
Brazil
Chile
Rest of South America
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Air Freight Forwarding Market Research FAQs

The Air Freight Forwarding Market size is expected to reach USD 106.64 billion in 2023 and grow at a CAGR of 5.85% to reach USD 141.68 billion by 2028.

In 2023, the Air Freight Forwarding Market size is expected to reach USD 106.64 billion.

Kuehne + Nagel, DB Schenker, DSV Panalpina, UPS Supply Chain Solutions and Nippon Express are the major companies operating in the Air Freight Forwarding Market.

North America is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the Asia Pacific accounts for the largest market share in the Air Freight Forwarding Market.

Air Cargo Forwarding Industry Report

Statistics for the 2023 Air Cargo Forwarding market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Air Cargo Forwarding analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Air Cargo Forwarding Market Report Snapshots

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