The global air freight market
The air cargo market refers to the transportation of goods via air, either by commercial airlines or specialized freight companies. The largest flows of air cargo are in and between East Asia and the United States, with airports in these regions dominating the top ten in terms of freight volume.
Drivers of growth
Two factors have strongly influenced the growth of the air freight market. The first is the global increase of e-commerce. This has connected retailers and consumers in different geographic locations across both domestic and international markets, driving up the demand for delivery services in the process. Second is the cost of airline fuel. The period circa 2012 where airline fuel prices reached historic highs coincides with slow growth in air freight volumes, while the increasing growth in freight volume seen from around 2016 coincides with a sharp fall in the cost of airline fuel.