Asia Pacific Air Cargo Market Market to Grow at a CAGR of 9.2% to reach US$ 59,298.21 million Million from 2022 to 2028
The Asia Pacific air cargo market size is expected to grow from US$ 38,355.21 million in 2022 to US$ 59,298.21 million by 2028; it is estimated to grow at a CAGR of 7.3% from 2022 to 2028.
With the constant rise in the demand for air cargo, several players operating in the supply chain are significantly investing to compete in the Asia Pacific air cargo market efficiently. For instance, in May 2022, DHL Express and Singapore Airlines (SIA) signed a Crew and Maintenance agreement (CM) to deploy five Boeing 777 freighters. The DHL Express partnership represents a "further step" in expanding its intercontinental aviation network to satisfy customer demand in quickly expanding international express shipping markets.
With the growing demand for air cargo from the pharmaceutical industry, the market players are making necessary technological strides to cope with the fast-growing demand. For instance, in January 2019, an airport-to-airport (A2A) pharmaceutical corridor was established between Brussels Airport and Hong Kong International Airport to provide services to fulfill the demands of pharmaceutical shipments. The two airports led the effort in collaboration with Pharma companies. Under the collaboration AERO company had provided the necessary services and standards for the better handling of temperature-sensitive pharmaceutical products. Both airports have earned the Centre of Excellence for Independent Validators in Pharmaceutical Logistics (CEIV Pharma) certification from the International Air Transport Association (IATA), which guarantees that airport cargo service providers handle pharmaceutical shipments under strict guidelines. The industry recently made great strides in monitoring temperature-sensitive goods on the ground and in the air. Thus, the factors mentioned above are driving the Asia Pacific air cargo market growth.
Impact of COVID-19 Pandemic on Asia Pacific Air Cargo Market Growth
In FY 2020, despite the COVID-19 pandemic, the demand for air cargo in Asia Pacific has been driven by the large transportation of medical and pharmaceutical products and COVID-19 vaccines across different Asian countries. For instance, in 2020, China Airline’s cargo team was chosen to transport the Moderna and AstraZeneca vaccines from Luxembourg, Amsterdam, Bangkok, Memphis, and other locations back to Taiwan. Furthermore, in 2020, the Chinese Airlines network was also used to transport vaccines to other countries. Such operations have driven the demand for air cargo services in Asia Pacific during the COVID-19 pandemic in 2020. Moreover, in 2021, several air cargo vendors partnered with different vaccine manufacturing companies to transfer, supply, and distribute the vaccines to other countries after the vaccine development. For instance, in 2021, DHL Global Forwarding Japan and ANA partnered to deliver Pfizer's COVID-19 vaccine across Japanese cities. Such developments have driven the Asia Pacific air cargo market size during the FY 2020-2021.
Market Insights – Asia Pacific Air Cargo Market
Based on country, the Asia Pacific air cargo market analysis is primarily segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China is expected to dominate the market in 2022 in terms of Asia Pacific air cargo market share in 2022 and it is expected to retain its dominance during the forecast period, followed by Japan and India. Some of the top airports that handles large volume of cargo annually in China include Hong Kong International Airport, Beijing Airport, and Shanghai Pudong International Airport. In Hong Kong International Airport, some of the top ground handlers include Hong Kong Airport Services Limited, Jardine Aviation Services, and SATS HK Ltd. Further, India is expected to be the fastest growing country in the Asia Pacific air cargo market during the forecast period, according to the Asia Pacific air cargo market analysis. Some of the top airports in India that handles large cargo volume include Indra Gandhi International Airport and Chhatrapati Shivaji International Airport.
Type-Based Insights – Asia Pacific Air Cargo Market
Based on type, the Asia Pacific air cargo market is bifurcated into air mail and air freight. The air freight segment is expected to dominate the market in 2022. The companies such as ANA Cargo Inc., Cathay Pacific Airways Limited, SIA Cargo, and Japan Cargo are among the major air cargo market players offering air freight services in the Asia Pacific air cargo market for air freight segment. These companies transport cargo for industries such as retail, pharmaceuticals and healthcare, food & beverages, consumer electronics, and automotive. Further, Cathay Pacific Airways Limited also transports live animals from one location to another. For instance, in January 2022 Geodis expanded its Asia Pacific airfreight network through cooperation with Malaysia's Air Asia X, following rising volumes and a continued lack of belly-hold capacity throughout the region. The initial term of the agreement is expected to last for six months starting on January 20, 2022, with potential extensions beyond that. In accordance with the contract, AAX will provide frequent, dedicated scheduled cargo flights between Kuala Lumpur (Malaysia) and Hong Kong, Chennai (India), Shanghai (China), and Sydney (Australia). Therefore, the expansion of the airfreight network in the Asia Pacific region is driving the air freight segment in the Asia Pacific air cargo market.
DHL International, Emirates SkyCargo, Korean Air, Cathay Pacific, and Etihad Cargo are among the prominent players operating in the Asia Pacific air cargo market. The Asia Pacific air cargo market is moderately consolidated, with several players localized in specific regions to cater to domestic demand.
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Asia Pacific Air Cargo Market: Strategic Insights
Market Size Value in US$ 46.21 Billion in 2021 Market Size Value by US$ 85.39 Billion by 2028 Growth rate CAGR of 9.2% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Asia Pacific Air Cargo Market: Strategic Insights
| Market Size Value in | US$ 46.21 Billion in 2021 |
| Market Size Value by | US$ 85.39 Billion by 2028 |
| Growth rate | CAGR of 9.2% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Players operating in the Asia Pacific air cargo market are mainly focused on providing efficient cargo services to their customers.
- In 2020, United Parcel Service of America, Inc. made delivery easier by handling signatures at UPS access point location deliveries. The UPS Stores and Michaels now accept packages requiring adult signatures, giving consumers increased control over when and where they sign for and receive deliveries. Michaels also offers in-store pick-up and an option for contactless pick-up in many locations.
- In 2020, due to ANA and cargo one's partnership, the ever-growing number of freight forwarders using cargo.one will have easy web-based access to ANA's large network with a focus on top destinations in Asia Pacific such as HND, NRT, HKG, SIN, and more for booking with instant confirmation.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Service, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Bangladesh, Cambodia, China, India, Indonesia, Japan, Malaysia, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Vietnam
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Air Cargo Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Air Cargo Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Speedy Adoption of E-Commerce Platforms
5.1.2 Continuous Need to Transport Temperature-Sensitive Products
5.2 Market Restraints
5.2.1 Market Ambiguity
5.2.2 Difficulty in Temperature-Sensitive Cargo Operations
5.3 Opportunity
5.3.1 Expanding Airport Infrastructure in Southeast Asia and New Policies
5.4 Future trends
5.4.1 Rational Cool Chain Solutions
5.4.2 Execution of Several Software Solutions
5.5 Impact Analysis of Drivers and Restraints
6. Air Cargo Market – Asia Pacific Market Analysis
6.1 Asia Pacific Air Cargo Market Overview
6.2 Air Cargo Market Forecast and Analysis
6.3 Market Positioning – Asia Pacific Key Players
6.4 Competitive Benchmarking
6.5 Growth Matrix
7. Asia Pacific Air Cargo Market Analysis – by Type
7.1 Overview
7.2 Asia Pacific Air Cargo Market Breakdown, by Type, 2021 and 2028
7.3 Air Mail
7.3.1 Overview
7.3.2 Air Mail: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Air Freight
7.4.1 Overview
7.4.2 Air Freight: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
8. Asia Pacific Air Cargo Market Analysis – by Service
8.1 Overview
8.2 Asia Pacific Air Cargo Market Breakdown, by Service, 2021 and 2028
8.3 Express
8.3.1 Overview
8.3.2 Express: Asia Pacific Air Cargo Market– Revenue and Forecast to 2028 (US$ Million)
8.4 Regular
8.4.1 Overview
8.4.2 Regular: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
9. Asia Pacific Air Cargo Market Analysis – by End User
9.1 Overview
9.2 Asia Pacific Air Cargo Market Breakdown, by End User, 2021 and 2028
9.3 Retail
9.3.1 Overview
9.3.2 Retail: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Pharmaceutical and Healthcare
9.4.1 Overview
9.4.2 Pharmaceutical and Healthcare: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Food and Beverage
9.5.1 Overview
9.5.1.1 Food and Beverages: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Consumer Electronics
9.6.1 Overview
9.6.2 Consumer Electronics: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Automotive
9.7.1 Overview
9.7.2 Automotive: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
9.8 Others
9.8.1 Overview
9.8.2 Others: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10. Asia Pacific Air Cargo Market Analysis – Geographic Analysis
10.1 Overview
10.2 Asia Pacific Air Cargo Market Breakdown, by Country, 2021 and 2028
10.2.1 Australia: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10.2.1.1 Australia: Asia Pacific Air Cargo Market, by Type
10.2.1.2 Australia: Asia Pacific Air Cargo Market, by Service
10.2.1.3 Australia: Asia Pacific Air Cargo Market, by End User
10.2.2 China: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10.2.2.1 China: Asia Pacific Air Cargo Market, by Type
10.2.2.2 China: Asia Pacific Air Cargo Market, by Service
10.2.2.3 China: Asia Pacific Air Cargo Market, by End User
10.2.3 India: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10.2.3.1 India: Asia Pacific Air Cargo Market, by Type
10.2.3.2 India: Asia Pacific Air Cargo Market, by Service
10.2.3.3 India: Asia Pacific Air Cargo Market, by End User
10.2.4 Japan: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10.2.4.1 Japan: Asia Pacific Air Cargo Market, by Type
10.2.4.2 Japan: Asia Pacific Air Cargo Market, by Service
10.2.4.3 Japan: Asia Pacific Air Cargo Market, by End User
10.2.5 South Korea: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10.2.5.1 South Korea: Asia Pacific Air Cargo Market, by Type
10.2.5.2 South Korea: Asia Pacific Air Cargo Market, by Service
10.2.5.3 South Korea: Asia Pacific Air Cargo Market, by End User
10.2.6 Indonesia: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.1 Indonesia: Asia Pacific Air Cargo Market, by Type
10.2.6.2 Indonesia: Asia Pacific Air Cargo Market, by Service
10.2.6.3 Indonesia: Asia Pacific Air Cargo Market, by End User
10.2.7 Singapore: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10.2.7.1 Singapore: Asia Pacific Air Cargo Market, by Type
10.2.7.2 Singapore: Asia Pacific Air Cargo Market, by Service
10.2.7.3 Singapore: Asia Pacific Air Cargo Market, by End User
10.2.8 Malaysia: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10.2.8.1 Malaysia: Asia Pacific Air Cargo Market, by Type
10.2.8.2 Malaysia: Asia Pacific Air Cargo Market, by Service
10.2.8.3 Malaysia: Asia Pacific Air Cargo Market, by End User
10.2.9 Cambodia: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10.2.9.1 Cambodia: Asia Pacific Air Cargo Market, by Type
10.2.9.2 Cambodia: Asia Pacific Air Cargo Market, by Service
10.2.9.3 Cambodia: Asia Pacific Air Cargo Market, by End User
10.2.10 Thailand: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10.2.10.1 Thailand: Asia Pacific Air Cargo Market, by Type
10.2.10.2 Thailand: Asia Pacific Air Cargo Market, by Service
10.2.10.3 Thailand: Asia Pacific Air Cargo Market, by End User
10.2.11 Philippines: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10.2.11.1 Philippines: Asia Pacific Air Cargo Market, by Type
10.2.11.2 Philippines: Asia Pacific Air Cargo Market, by Service
10.2.11.3 Philippines: Asia Pacific Air Cargo Market, by End User
10.2.12 Vietnam: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10.2.12.1 Vietnam: Asia Pacific Air Cargo Market, by Type
10.2.12.2 Vietnam: Asia Pacific Air Cargo Market, by Service
10.2.12.3 Vietnam: Asia Pacific Air Cargo Market, by End User
10.2.13 Bangladesh: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10.2.13.1 Bangladesh: Asia Pacific Air Cargo Market, by Type
10.2.13.2 Bangladesh: Asia Pacific Air Cargo Market, by Service
10.2.13.3 Bangladesh: Asia Pacific Air Cargo Market, by End User
10.2.14 Sri Lanka: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10.2.14.1 Sri Lanka: Asia Pacific Air Cargo Market, by Type
10.2.14.2 Sri Lanka: Asia Pacific Air Cargo Market, by Service
10.2.14.3 Sri Lanka: Asia Pacific Air Cargo Market, by End User
10.2.15 Pakistan: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
10.2.15.1 Pakistan: Asia Pacific Air Cargo Market, by Type
10.2.15.2 Pakistan: Asia Pacific Air Cargo Market, by Service
10.2.15.3 Pakistan: Asia Pacific Air Cargo Market, by End User
11. Air Cargo Market- COVID-19 Impact Analysis
11.1 Asia Pacific: Impact Assessment of Covid-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger & Acquisition
13. Company Profiles
13.1 ANA Cargo
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Cargolux
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.3 Cathay Pacific Airways Limited
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 DHL International GmbH (Deutsche Post DHL Group)
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Emirates SkyCargo
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Etihad Cargo
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 FedEx Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 United Parcel Service of America, Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Lufthansa Cargo AG
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Korean Air
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Australia: Asia Pacific Air Cargo Market, by Type–Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Asia Pacific Air Cargo Market, by Service–Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Asia Pacific Air Cargo Market, by End User –Revenue and Forecast to 2028 (US$ Million)
Table 5. China: Asia Pacific Air Cargo Market, by Type–Revenue and Forecast to 2028 (US$ Million)
Table 6. China: Asia Pacific Air Cargo Market, by Service–Revenue and Forecast to 2028 (US$ Million)
Table 7. China: Asia Pacific Air Cargo Market, by End User –Revenue and Forecast to 2028 (US$ Million)
Table 8. India: Asia Pacific Air Cargo Market, by Type–Revenue and Forecast to 2028 (US$ Million)
Table 9. India: Asia Pacific Air Cargo Market, by Service–Revenue and Forecast to 2028 (US$ Million)
Table 10. India: Asia Pacific Air Cargo Market, by End User –Revenue and Forecast to 2028 (US$ Million)
Table 11. Japan: Asia Pacific Air Cargo Market, by Type–Revenue and Forecast to 2028 (US$ Million)
Table 12. Japan: Asia Pacific Air Cargo Market, by Service–Revenue and Forecast to 2028 (US$ Million)
Table 13. Japan: Asia Pacific Air Cargo Market, by End User –Revenue and Forecast to 2028 (US$ Million)
Table 14. South Korea: Asia Pacific Air Cargo Market, by Type–Revenue and Forecast to 2028 (US$ Million)
Table 15. South Korea: Asia Pacific Air Cargo Market, by Service–Revenue and Forecast to 2028 (US$ Million)
Table 16. South Korea: Asia Pacific Air Cargo Market, by End User –Revenue and Forecast to 2028 (US$ Million)
Table 17. Indonesia: Asia Pacific Air Cargo Market, by Type–Revenue and Forecast to 2028 (US$ Million)
Table 18. Indonesia: Asia Pacific Air Cargo Market, by Service–Revenue and Forecast to 2028 (US$ Million)
Table 19. Indonesia: Asia Pacific Air Cargo Market, by End User –Revenue and Forecast to 2028 (US$ Million)
Table 20. Singapore: Asia Pacific Air Cargo Market, by Type–Revenue and Forecast to 2028 (US$ Million)
Table 21. Singapore: Asia Pacific Air Cargo Market, by Service–Revenue and Forecast to 2028 (US$ Million)
Table 22. Singapore: Asia Pacific Air Cargo Market, by End User –Revenue and Forecast to 2028 (US$ Million)
Table 23. Malaysia: Asia Pacific Air Cargo Market, by Type–Revenue and Forecast to 2028 (US$ Million)
Table 24. Malaysia: Asia Pacific Air Cargo Market, by Service–Revenue and Forecast to 2028 (US$ Million)
Table 25. Malaysia: Asia Pacific Air Cargo Market, by End User –Revenue and Forecast to 2028 (US$ Million)
Table 26. Cambodia: Asia Pacific Air Cargo Market, by Type–Revenue and Forecast to 2028 (US$ Million)
Table 27. Cambodia: Asia Pacific Air Cargo Market, by Service–Revenue and Forecast to 2028 (US$ Million)
Table 28. Cambodia: Asia Pacific Air Cargo Market, by End User –Revenue and Forecast to 2028 (US$ Million)
Table 29. Thailand: Asia Pacific Air Cargo Market, by Type–Revenue and Forecast to 2028 (US$ Million)
Table 30. Thailand: Asia Pacific Air Cargo Market, by Service–Revenue and Forecast to 2028 (US$ Million)
Table 31. Thailand: Asia Pacific Air Cargo Market, by End User –Revenue and Forecast to 2028 (US$ Million)
Table 32. Philippines: Asia Pacific Air Cargo Market, by Type–Revenue and Forecast to 2028 (US$ Million)
Table 33. Philippines: Asia Pacific Air Cargo Market, by Service–Revenue and Forecast to 2028 (US$ Million)
Table 34. Philippines: Asia Pacific Air Cargo Market, by End User –Revenue and Forecast to 2028 (US$ Million)
Table 35. Vietnam: Asia Pacific Air Cargo Market, by Type–Revenue and Forecast to 2028 (US$ Million)
Table 36. Vietnam: Asia Pacific Air Cargo Market, by Service–Revenue and Forecast to 2028 (US$ Million)
Table 37. Vietnam: Asia Pacific Air Cargo Market, by End User –Revenue and Forecast to 2028 (US$ Million)
Table 38. Bangladesh: Asia Pacific Air Cargo Market, by Type–Revenue and Forecast to 2028 (US$ Million)
Table 39. Bangladesh: Asia Pacific Air Cargo Market, by Service–Revenue and Forecast to 2028 (US$ Million)
Table 40. Bangladesh: Asia Pacific Air Cargo Market, by End User –Revenue and Forecast to 2028 (US$ Million)
Table 41. Sri Lanka: Asia Pacific Air Cargo Market, by Type–Revenue and Forecast to 2028 (US$ Million)
Table 42. Sri Lanka: Asia Pacific Air Cargo Market, by Service–Revenue and Forecast to 2028 (US$ Million)
Table 43. Sri Lanka: Asia Pacific Air Cargo Market, by End User –Revenue and Forecast to 2028 (US$ Million)
Table 44. Pakistan: Asia Pacific Air Cargo Market, by Type–Revenue and Forecast to 2028 (US$ Million)
Table 45. Pakistan: Asia Pacific Air Cargo Market, by Service–Revenue and Forecast to 2028 (US$ Million)
Table 46. Pakistan: Asia Pacific Air Cargo Market, by End User –Revenue and Forecast to 2028 (US$ Million)
Table 47. List of Abbreviation
LIST OF FIGURES
Figure 1. Air Cargo Market Segmentation
Figure 2. Air Cargo Market Segmentation – By Geography
Figure 3. Asia Pacific Air Cargo Market Overview
Figure 4. Air Freight Segment Held the Largest Share of Air Cargo Market
Figure 5. Regular Segment Held the Largest Share of Air Cargo Market
Figure 6. Consumer Electronics Segment Held the Largest Share of Air Cargo Market
Figure 7. China to Show Great Traction During Forecast Period
Figure 8. Air Cargo Market– PEST Analysis
Figure 9. Asia Pacific Air Cargo Market- Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. Air Cargo Market: Impact Analysis of Drivers and Restraints
Figure 12. Air Cargo Market Forecast and Analysis (US$ Million)
Figure 13. Asia Pacific Air Cargo Market Revenue Share, by Type (2021 and 2028)
Figure 14. Air Mail: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Air Freight: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Asia Pacific Air Cargo Market Revenue Share, by Service (2021 and 2028)
Figure 17. Express: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Regular: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Asia Pacific Air Cargo Market Revenue Share, by End User (2021 and 2028)
Figure 20. Retail: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Pharmaceutical and Healthcare: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Food and Beverages: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Consumer Electronics: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Automotive: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Others: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Asia Pacific Air Cargo Market Revenue Share, by End User (2021 and 2028)
Figure 27. Australia: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. China: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. India: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Japan: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. South Korea: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Indonesia: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Singapore: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Malaysia: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Cambodia: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36. Thailand: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 37. Philippines: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 38. Vietnam Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 39. Bangladesh: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 40. Sri Lanka: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 41. Pakistan: Asia Pacific Air Cargo Market – Revenue and Forecast to 2028 (US$ Million)
Figure 42. Impact of Covid-19 Pandemic in Asia Pacific Country Markets
1.ANA Cargo
2.Cargolux
3.Cathay Pacific Airways Limited
4.DHL International GmbH
5.Emirates SkyCargo
6.Etihad Cargo
7.FedEx Corporation
8.United Parcel Service of America, Inc.
9.Lufthansa Cargo AG
10.Korean Air
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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