Cargo Aircraft Charter Service Market Growth Outlook Through 2024-2033

Overview and Scope
Cargo aircraft charter service refers to the service of leasing cargo aircraft for the purpose of transporting goods or cargo. These services are often provided by air cargo companies that fly special cargo planes, giving shippers the flexibility and speed, they need to deliver their products on time and with reliability.

Sizing and Forecast
The cargo aircraft charter service market size has grown strongly in recent years. It will grow from $9.66 billion in 2023 to $10.4 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to expansion of global trade and commerce, rise in instances of natural disasters or humanitarian crises, surge in e-commerce activities, heightened security concerns, changes in global trade policies, tariffs, or geopolitical tensions.

The cargo aircraft charter service market size is expected to see strong growth in the next few years. It will grow to $14.18 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to continued growth in online retail, heightened focus on building resilient supply chains, expansion and modernization of airports, global shift towards renewable energy sources, shifts in global trade agreements, tariffs, or geopolitical factors. Major trends in the forecast period include technological advancements in aviation, adoption of digital platforms, customization of charter services to meet specific customer needs, implementation of dynamic pricing strategies, increased collaborations among charter service providers, airlines, logistics firms, and technology companies.

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Segmentation & Regional Insights
The cargo aircraft charter service market covered in this report is segmented –

1) By Type: Time Critical Cargo, Heavy And Outside Cargo, Dangerous Cargo, Animal Transportation, Other Types
2) By Aircraft Type: Light, Mid-Sized, Large
3) By Application: Private Use, Commercial Use

Asia-Pacific was the largest region in the cargo aircraft charter service market in 2023. The regions covered in the cargo aircraft charter service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
Increasing passengers for air travel is expected to propel the growth of the cargo aircraft charter service market going forward. Air passengers refer to people who travel by air on commercial airlines or private aircraft for a variety of reasons. Cargo aircraft charter services can help passengers in a variety of situations, including natural disasters or humanitarian emergencies, transportation of important products, business travel, and specialized services. For instance, in March 2023, according to the Bureau of Transportation Statistics, a US-based government agency, the number of passengers carried by American Airlines increased by 30% from 658 million in 2021 to 853 million in 2022. Therefore, increasing passengers for air travel is driving the growth of the cargo aircraft charter service market.

Key Industry Players

Major companies operating in the cargo aircraft charter service market report are United Parcel Service, DSV A/S, Atlas Air, Cathay Pacific Cargo, Cargo Partner, Vietjetair Cargo, Cargo Air Chartering, AYR Logistics Limited, CTS Logistics Group, ACC Aviation, Chapman Freeborn, LunaJets, Air Partner, Logistics Plus, Airports Council International, CSI Aviation Inc., Rhenus Logistics, Arcus-Air GmbH and Co. KG, Fliteline B.V., Stratos Jet Charters Inc., Prescott Support, Aviocharter, BitLux, Air Charter Services Pvt. Ltd., Airmacs Aviation, JALCARGO Charter Service, Euroasian Cargo Solutions, XELLZ Air Cargo Charter Services (XACS)

The cargo aircraft charter service market report table of contents includes:

1. Executive Summary
2. Cargo Aircraft Charter Service Market Characteristics
3. Cargo Aircraft Charter Service Market Trends And Strategies
4. Cargo Aircraft Charter Service Market – Macro Economic Scenario
5. Global Cargo Aircraft Charter Service Market Size and Growth
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31. Cargo Aircraft Charter Service Market Other Major And Innovative Companies
32. Global Cargo Aircraft Charter Service Market Competitive Benchmarking
33. Global Cargo Aircraft Charter Service Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cargo Aircraft Charter Service Market
35. Cargo Aircraft Charter Service Market Future Outlook and Potential Analysis
36.Appendix

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