The Global air cargo market size was valued at US$ 141.03 billion in 2024 and is expected to reach US$ 210.92 billion by 2031; it is estimated to record a CAGR of 5.8% from 2025 to 2031.

Air cargo stakeholders have a huge opportunity in Southeast Asian countries such as Singapore, Thailand, and Indonesia. Airports in Southeast Asian countries are the fastest-growing airports in the world. Turkish Cargo is increasing its presence with the launch of new freighter services. The airports of Singapore, Incheon, Hong Kong, and Taiwan are supporting national carriers to expand air freight and also encouraging operators to increase services. These initiatives are expected to reduce trade with China and increase some transfer cargo traffic in Taiwan from ASEAN. Companies such as APEX Logistics and SEKO Logistics have strategically expanded their operations in Southeast Asian countries. Between 2024 and 2025, governments and private entities have invested billions into airport infrastructure. For instance, the government of India committed US$ 18 billion under the National Infrastructure Pipeline, with significant investments by Adani Airports and others in major hubs such as Mumbai, Lucknow, and Jaipur. Mumbai is already a dominant freight hub, and it continues to benefit from its strategic location and robust infrastructure, handling the highest cargo volumes in India.

The increasing construction of greenfield airports across Europe is likely to provide new market opportunities for air cargo companies during the forecast period. New greenfield airports are likely to add new cargo capacity to the respective regions that will also catalyze the growth of the air cargo market in Europe. Several ongoing and upcoming greenfield construction projects across different European countries are likely to augment the cargo capacity.

The North America air cargo market is segmented into the US, Canada, and Mexico. According to the data presented by the International Air Transport Association (IATA), in March 2025, cargo airlines operating in the region witnessed a 9.5% year-on-year increase in demand growth for air cargo. On the other hand, the region acts as a major hub for freighter airlines such as FedEx and UPS. Despite strong global air cargo growth, North America showed a 5.8% year-on-year decline in cargo demand in May 2025, influenced primarily by sweeping tariff changes and the removal of the de minimis exception that impacted cross-border trade volumes. The boom in cross-border e-commerce influences consumer expectations for two-day delivery and creates high demand for rapid air freight services. This trend is especially prominent on transpacific routes, which account for about a quarter of global air cargo and is estimated to grow in the upcoming years.

North American hubs, including Miami (MIA), Dallas-Fort Worth (DFW), Rockford (RFD), and Chicago O'Hare (ORD), are witnessing significant cargo and logistics infrastructure investments, enabling better handling and faster throughput capabilities. In 2025, Dallas-Fort Worth airport officials announced they had invested in advanced cold chain solutions to handle pharmaceuticals and perishables. The facility houses temperature-controlled facilities and real-time monitoring systems to ensure the integrity of perishable goods. Thus, strong structural growth from e-commerce, reshoring, healthcare logistics, and infrastructure investments positions the North America air cargo market for sustainable expansion.

According to a reputed source, United Airlines, a major airline operating in the US, carried 1.3 billion pounds of cargo in 2024, including 43 million pounds of medical shipments. The company's air cargo revenue rose by 17% from US$ 1.49 billion in 2023 to US$ 1.74 billion as of December 2024. Growth in the air cargo industry is propelled by soaring demand for e-commerce, strong manufacturing bases, and efficient logistics infrastructure. The air cargo industry is a critical conduit for the rapid and efficient movement of goods domestically and internationally. The industry is characterized by a strong infrastructure comprising the Memphis International Airport, home to FedEx Express's global hub; Louisville Muhammad Ali International Airport, the central node for UPS Airlines; and Chicago O'Hare International Airport, a key freight gateway. These hubs leverage advanced logistics technologies and streamline operational processes to maintain high service standards and meet growing demand.

FedEx Express, UPS Airlines, DHL Aviation, Emirates, Cathay Pacific Airways, Korean Air Cargo, Lufthansa, Singapore Airlines Cargo, China Airlines, British Airways, Cargolux, ANA CARGO, and Zela Aviation are among the key global air cargo market players that are profiled in this market study.

The overall global air cargo market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the global air cargo market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global air cargo market.