How big is the air transport market today, and what are its future growth expectations?
The air transport market size has grown strongly in recent years. It will grow from $1110.42 billion in 2024 to $1191.76 billion in 2025 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to economic growth, globalization, tourism and leisure travel, connectivity and accessibility.
The air transport market size is expected to see strong growth in the next few years. It will grow to $1503.69 billion in 2029 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to emerging markets, global trade and e-commerce, urbanization, aircraft efficiency and sustainability, connectivity and network expansion. Major trends in the forecast period include sustainable aviation, digital transformation, air cargo and e-commerce, ultra-long-haul flights.
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What have been the primary factors driving the air transport market’s growth?
The rise of e-commerce and online shopping is expected to propel the growth of the air transport market going forward. E-commerce, also known as electronic commerce, refers to the buying and selling of goods and services over the Internet or other electronic communication platforms. Air transport enhances e-commerce by ensuring timely and efficient delivery of products, expanding market reach for online retailers, and reducing delivery times for customers, fostering convenience and satisfaction. For instance, in August 2024, according to the US Census Bureau, a US-based government agency, U.S. retail e-commerce sales for the second quarter of 2024 totaled $282.3 billion, an increase of 5.3 percent (±0.7) from the first quarter of 2023Therefore, the rise of e-commerce and online shopping is driving the air transport market.
What are the key segments within the air transport market?
The air transport market covered in this report is segmented –
1) By Type: Passenger Air Transport, Chartered Air Transport, Air Cargo Services
2) By Distance: Long-Distance, Short-Distance
3) By End-Use: Private, Commercial
Subsegments:
1) By Passenger Air Transport: Domestic Passenger Air Transport, International Passenger Air Transport, Low-Cost Carrier (LCC) Air Transport, Full-Service Carrier (FSC) Air Transport
2) By Chartered Air Transport: Private Charter Flights, Business Charter Flights, Air Ambulance Services
3) By Air Cargo Services: Express Air Cargo, Freight Forwarding Services, Air Freight Services, Cold Chain Logistics
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Which key players are shaping the air transport market?
Major companies operating in the air transport market include The Emirates Group, China Airlines Ltd., American Airlines Group Inc., Delta Air Lines Inc., United Airlines Inc., China Southern Airlines, Qatar Airways Company Q.C.S.C, Air France–KLM SA, Deutsche Lufthansa AG, FedEx Corporation, United Parcel Service Inc., Cathay Pacific Airways Limited, Cargolux Airlines International SA, Japan Airlines Co. Ltd., ANA Holdings Inc., International Consolidated Airlines Group SA, Magma Aviation Limited, Deutsche Post AG, Kuehne Nagel International AG, AirBridgeCargo Airlines LLC, Cargojet Inc., Gol Linhas Aereas Inteligentes SA, Azul Linhas Aereas Brasileiras S/A, Latam Airlines, Compania Panamena de Aviacion SA, Lufthansa Cargo AG, Korean Air Lines Co. Ltd., Singapore Airlines Ltd., Air China Limited, Turkish Airlines Inc., Air Canada Inc., Ethiopian Airlines Group, British Airways plc, Air India Limited, Malaysia Airlines Berhad, Philippine Airlines Inc., Vietnam Airlines Corporation, Garuda Indonesia (Persero) Tbk PT, Royal Jordanian Airlines.
How will emerging trends drive the air transport market throughout the forecast period?
Major companies operating in the air transport market are focusing on developing technologically advanced solutions, such as NextGen eVTOL aircraft, to address the emerging urban air mobility market. NextGen eVTOL aircraft are advanced electric-powered vehicles designed for urban air mobility, enabling vertical take-off and landing in confined spaces while offering efficient, eco-friendly transportation solutions within cities. For instance, in March 2024, Airbus SE, a Netherlands-based Aerospace Corporation, launched the CityAirbus NextGen, an all-electric vertical takeoff and landing (eVTOL) aircraft prototype, marking a significant advancement in urban air mobility. With a wingspan of approximately 12 meters, a weight class of two tons, and a flight range of up to 80 kilometers, the CityAirbus is designed to carry one pilot and three passengers at speeds of 120 kilometers per hour. The CityAirbus NextGen includes fixed wings, a V-shaped tail, and eight electric-powered propellers arranged in a distributed propulsion system for enhanced efficiency and safety.
How do regional factors impact the air transport market, and which region is the largest contributor?
Asia-Pacific was the largest region in the air transport market in 2023. North America was the second largest region in the air transport market. The regions covered in the air transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Air Transport Market Report 2025 Offer?
The air transport market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Air transport is the transportation of people and goods using any vehicle capable of sustained controlled aircrafts such as aeroplanes and helicopters that provide both scheduled and non-scheduled air carriers to provide fast delivery of goods, reduced travel time with enhanced security, and reduced the risk of lost goods.
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