Market Size of Air Freight Forwarding Industry
| 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
*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.
