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

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 - 

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Europe Air Cargo Market: Strategic Insights

Europe Air Cargo Market

• Market Size 2022
  US$ 30.27 Billion
• Market Size 2028
  US$ 43.29 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Regional Overview

• Europe

Market Segmentation

Type

• Air Mail and Air Freight

Service

• Express and Regular

End User

• Retail
• Pharmaceutical and Healthcare
• Food and Beverage
• Consumer Electronics
• Automotive

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Europe Air Cargo MarketReport Scope

Europe Air Cargo Market Report Scope