US Air Freight Transport Market Size
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 56.22 Billion |
| Market Size (2029) | USD 70.21 Billion |
| CAGR (2024 - 2029) | 4.55 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Air Freight Transport Market Analysis
The US Air Freight Transport Market size is estimated at USD 56.22 billion in 2024, and is expected to reach USD 70.21 billion by 2029, at a CAGR of 4.55% during the forecast period (2024-2029).
- The US air freight transport market is mainly driven by the surge in e-commerce activities and surge in demand for FMCG.
- E-commerce's explosive growth continues to drive air freight demand. This surge has led to an increased need for prompt deliveries, pushing logistics providers to bolster their capabilities and streamline operations to align with consumer expectations for swift shipments.
- In June 2024, air freight between the US and global destinations rose by 5% from 2023, totaling 1,036,907 tons. US airlines were responsible for transporting 47% of this international freight, with charter services making up 21% of the total traffic.
- For the year ending June 2024, the leading international gateways for US freight were China, South Korea, Japan, Hong Kong, and Germany. Among the top 25 country markets, 14 saw an increase in freight traffic, while 11 experienced a decline. Notably, Belgium, among the declining markets, recorded the steepest drop at 12% compared to 2023. The US flag share dynamics varied: it decreased in 14 markets, remained steady in four, and saw an uptick in seven others.
- Technological advancements are significantly transforming air freight operations, improving efficiency and reliability. In July 2024, Siemens Digital Industries Software revealed that Natilus, a US-based aerospace firm, has integrated the Siemens Xcelerator suite into its operations. With a vision to revolutionize global supply chains via its innovative blended-wing-body aircraft, Natilus has leveraged Siemens software to slash its inaugural prototype's development time by half.
US Air Freight Transport Market Trends
US Air Freight Market Set for Growth Amid Rising International Trade Demand
In 2024, the US air freight transport market is poised for significant growth in international trade demand, driven by factors such as economic recovery, the expansion of e-commerce, and shifting geopolitical dynamics.
In recent years, the US e-commerce sector has witnessed unprecedented growth. By 2023, sales surpassed the USD 1 trillion mark, propelled by industry giants like Amazon and Walmart, alongside smaller platforms such as Etsy and eBay.
In 2023, US freight trade with Canada and Mexico reached a value of USD 1.57 trillion. This trade accounted for a total weight of 2,484.7 million tons. Although the weight of the freight saw an 8.8% increase from 2022, the dollar value of North American freight held steady in 2023.
For over 25 years, the United States has championed the expansion of international aviation markets through its "Open Skies" policy. These bilateral and multilateral agreements eliminate government-imposed limitations on airline operations between countries. They dictate the number of airlines permitted, the routes they can take, the pricing strategies they can adopt, and the aircraft they must utilize. Furthermore, these agreements foster collaboration between US and foreign airlines, enabling US cargo and express delivery carriers to transport freight and parcels seamlessly. The scope of Open Skies spans passenger and cargo aviation, covering both scheduled and charter flights. Thus far, the US has forged Open Skies agreements with over 125 partners, spanning every continent and developmental stage.
US Electrical Machinery and Electronics Trade: A Year of Growth Amidst a Trade Deficit
In August 2024, the US exported USD 19.8 Billion worth of electrical machinery and electronics, while imports reached USD 40.9 Billion, leading to a trade deficit of USD 21 Billion. From August 2023 to August 2024, US exports in this sector rose by USD 2.32 Billion (13.3%), climbing from USD 17.5 Billion to USD 19.8 Billion. In contrast, imports saw a USD 3.26 Billion (8.68%) uptick, moving from USD 37.6 Billion to USD 40.9 Billion.
In August 2024, the US primarily exported electrical machinery and electronics to Mexico (USD 5 Billion), Canada (USD 2.44 Billion), China (USD 1.67 Billion), Malaysia (USD 1.65 Billion), and Hong Kong (USD 702 Million). Conversely, imports were predominantly sourced from China (USD 10.4 Billion), Mexico (USD 7.85 Billion), Vietnam (USD 3.37 Billion), Chinese Taipei (USD 3.03 Billion), and Malaysia (USD 2.38 Billion).
The year-on-year rise in US exports of electrical machinery and electronics in August 2024 was largely driven by boosts in shipments to Mexico (USD 383 million or 9.62%), Canada (USD 350 million or 17.9%), and Poland (USD 165 million or 122%). On the import side, the uptick was mainly due to increased purchases from Mexico (USD 816 million or 14.3%), Thailand (USD 687 million or 67.8%), and India (USD 521 million or 150%).
US Air Freight Transport Industry Overview
The US air freight transport market landscape is fragmented, with a mix of regional and international players. Key players in the market include DHL, United Parcel Services Inc., Expeditors International, Hellmann Worldwide Logistics, DB Schenker, etc.
As companies embrace technology-driven solutions and seek efficient distribution channels, they find themselves strategically positioned to seize emerging opportunities in the industry.
As of October 2024, DHL Express and DHL Global Forwarding are advancing their sustainability initiatives by renewing a contract with IAG Cargo, the cargo handling arm of International Airlines Group (IAG). This partnership will see the use of an extra 60 million liters of Sustainable Aviation Fuel (SAF) for DHL's operations. Spanning the years 2024 and 2025, the renewed contract is projected to cut down greenhouse gas emissions by roughly 165,000 metric tons of CO2e.
US Air Freight Transport Market Leaders
-
DHL
-
United Parcel Services Inc.
-
Expeditors International
-
Hellmann Worldwide Logistics
-
DB Schenker
*Disclaimer: Major Players sorted in no particular order
US Air Freight Transport Market News
- September 2024: DHL Express invested over EUR 100 million (USD 105.88 million) to enhance its transport and handling capabilities, aligning with its customers' growth trajectories. As part of its ongoing fleet modernization, DHL Express is introducing eight new Boeing 777 freighters. This strategic decision is timed with the expected uptick in demand for express services during the customary year-end peak season.
- April 2024: Emirates SkyCargo has forged an API connection with DB Schenker, a prominent global logistics service provider. Through this digital collaboration, Emirates SkyCargo seeks to enhance its already stellar customer experience and facilitate a more agile international trade flow. This direct link to DB Schenker's internal booking system streamlines the air freight booking process. It grants agents immediate access to Emirates SkyCargo's schedules, both Standard and Contract Tariff rates, available capacity, and the airline's extensive global network, which spans over 140 destinations across six continents.
US Air Freight Transport Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Market
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Surge in cross border trade relations driving the market
4.2.1.2 The market is significantly driven by economic growth
4.2.2 Restraints
4.2.2.1 Geopolitical factors hindering the market
4.2.2.2 Consumer Behaviour affecting the market
4.2.3 Opportunities
4.2.3.1 Technological advancements driving the market
4.3 Government Initiatives and Regulations
4.4 Supply Chain/Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Threat Of New Entrants
4.5.2 Bargaining Power Of Buyers
4.5.3 Bargaining Power Of Suppliers
4.5.4 Threat Of Substitute Products
4.5.5 Degree Of Competition
4.6 Technology Snapshot and Digital Trends
4.7 Spotlight on Key Commodities Transported by Air
4.8 Elaboration on Air Freight Rates
4.9 Spotlight on Heavy Cargo/Project Logistics in the Air Cargo Industry
4.10 Insights into Key Ground Handling Equipment in Airports
4.11 Review and Commentary on Standards and Regulations on the Safe Transport of Dangerous Goods
4.12 Brief on Cold Chain Logistics in the Air Cargo Sector
4.13 Impact of Geopolitics and Pandemic on the Market
5. MARKET SEGMENTATION
5.1 By Service
5.1.1 Freight Transport (Cargo and Mail)
5.1.2 Freight Forwarding
5.1.3 Other Value-added Services
5.2 By Service
5.2.1 Forwarding
5.2.2 Airlines
5.2.3 Mail
5.2.4 Other Services
5.3 By Destination
5.3.1 Domestic
5.3.2 International
5.4 By Carrier Type
5.4.1 Belly Cargo
5.4.2 Freighter
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 DHL
6.2.2 United Parcel Services Inc.
6.2.3 Expeditors International
6.2.4 Hellmann Worldwide Logistics
6.2.5 DB Schenker
6.2.6 Kuehne + Nagel
6.2.7 DSV
6.2.8 Nippon Express
6.2.9 Kerry Logistics
6.2.10 Ceva Logistics*
- *List Not Exhaustive
6.3 Other Companies
7. FUTURE OF THE MARKET
8. APPENDIX
8.1 Macroeconomic Indicators (GDP Distribution, by Activity, Contribution of the Transport and Storage Sector to Economy)
8.2 External Trade Statistics - Exports and Imports, by Product
8.3 Insights into the Key Export Destinations and Import Origin Countries
US Air Freight Transport Industry Segmentation
Air freight transport refers to transporting goods by air from one place to another. These services are commonly used for shipments of goods that require quick and effective delivery, particularly over long distances or internationally. Compared to different modes of transport, such as sea or land, air freight has a reputation for speed and reliability.
The US air freight transport market is segmented by service (forwarding, airlines, mail, and other services), by destination (domestic, international), and by carrier type (belly cargo, freighter). The report offers market size and forecasts the US Air Transport Market in value (USD) for all the above segments.
| By Service | |
| Freight Transport (Cargo and Mail) | |
| Freight Forwarding | |
| Other Value-added Services |
| By Service | |
| Forwarding | |
| Airlines | |
| Other Services |
| By Destination | |
| Domestic | |
| International |
| By Carrier Type | |
| Belly Cargo | |
| Freighter |
US Air Freight Transport Market Research FAQs
How big is the US Air Freight Transport Market?
The US Air Freight Transport Market size is expected to reach USD 56.22 billion in 2024 and grow at a CAGR of 4.55% to reach USD 70.21 billion by 2029.
What is the current US Air Freight Transport Market size?
In 2024, the US Air Freight Transport Market size is expected to reach USD 56.22 billion.
Who are the key players in US Air Freight Transport Market?
DHL, United Parcel Services Inc., Expeditors International, Hellmann Worldwide Logistics and DB Schenker are the major companies operating in the US Air Freight Transport Market.
What years does this US Air Freight Transport Market cover, and what was the market size in 2023?
In 2023, the US Air Freight Transport Market size was estimated at USD 53.66 billion. The report covers the US Air Freight Transport Market historical market size for years: . The report also forecasts the US Air Freight Transport Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
US Air Freight Transport Industry Report
Statistics for the 2024 US Air Freight Transport market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. US Air Freight Transport analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
US Air Freight Transport Market Report Snapshots
