End-user segments performance in the growth of the global air cargo market

The global air cargo market is expected to grow at a CAGR of 4.80% during the forecast period. Based on end-user, the global air cargo market has been segmented into manufacturing, FMCG and retail, pharmaceuticals and chemicals, and other industries.

The manufacturing industry has the highest market value because of the automotive industry, which is a part of the manufacturing industry. Air cargo companies are flying out cars for various companies. The average age of on-road vehicles is also increasing continuously. This is anticipated to create the demand for several vehicle components such as filters, brakes, suspension, and shock absorbers, which require frequent replacements. Several auto components manufacturing companies prefer for air cargo transport services as they provide fast and damage-free delivery.

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Apart from the automotive manufacturing industry, the aircraft manufacturing and industrial manufacturing sectors have a high demand for air cargo services for the transportation of critical components. An increase in the number of orders and subsequently increasing aircraft backlog is encouraging the aircraft manufacturers to speed up the supply chain, which in turn is driving the adoption of air cargo services for transportation of aircraft components. Considering this, aircraft manufacturers are also emphasizing on increasing the load-carrying capacity of cargo aircraft. Hence, the manufacturing segment of the global air cargo market is expected to grow during the forecast period.