Fact.MR
The global cargo airlines market is evaluated to reach $157.2 billion in 2024, and the market is further forecasted to rise at a CAGR of 6.5% between 2024-2034, according to a new report by Fact.MR.
“Moving vehicle components between manufacturing facilities is going to be way easier with the help of cargo airlines worldwide,” says a Fact.MR analyst.
Key takeaways:
- Due to the growth of e-commerce and the need for quick delivery of medical supplies, cargo aircraft has evolved from a luxury service to an essential part of the infrastructure, satisfying just-in-time delivery needs for several industries, including automobiles to fresh produce.
- Cargo planes are essential to international trade because of their capacity to deliver valuable products, emergency supplies, and temperature-sensitive commodities.
- Significant investments in specialized airplanes, cutting-edge handling facilities, and creative tracking systems have been spurred by this increase in demand. While conventional passenger carriers are modifying aircraft to suit freight demands, airlines are growing their specialized cargo fleets.
- Requirements for scheduled airfreight transportation are approximated to increase at a CAGR of 3% from 2024-2034.
