Air Freight Management Market

Air freight management is the process of managing the transportation of goods by air. It involves a range of activities such as planning, organizing, and coordinating the movement of goods and ensuring compliance with customs regulations and documentation requirements.

The primary objective of air freight management is to ensure that goods are transported efficiently and cost-effectively, while also meeting the requirements of customers and regulatory authorities. This involves selecting the most appropriate transportation modes, carriers, and routes and managing logistics operations such as warehousing, inventory management, and distribution.

Effective air freight management also involves managing risks associated with the movement of goods by air, such as theft, damage, and delays. This requires careful planning and coordination and the use of advanced technology such as real-time tracking and monitoring systems.

Air freight management is an important part of the global logistics industry, and plays a key role in facilitating international trade and commerce. With the growth of e-commerce and the increasing demand for fast and efficient transportation of goods, air freight management is expected to continue to grow in importance in the coming years.

Current Market and Drivers

The Global Air Freight Management Market size by revenue was 15.1 billion USD in 2021, it is estimated to reach 49.10 billion USD by 2030 with a CAGR of 15.1% in the forecast period 2023-2030. The air freight management market is driven by several factors, including:

Globalization and International Trade: The expansion of international trade has led to an increase in demand for air freight services, as businesses seek to transport goods quickly and efficiently across borders.

E-commerce: The growth of e-commerce has led to an increase in demand for fast and reliable delivery of goods, particularly for high-value and time-sensitive products, which has driven the growth of the air freight management market.

Time-Sensitive Goods: Air freight is often the preferred mode of transportation for time-sensitive goods, such as perishable items, medical supplies, and high-value electronics, which require fast and efficient delivery.

Technologies that support tracking, tracing, securing, and controlling in-transit freight are becoming more and more popular among businesses. Visibility is becoming a more important component of supply chain and logistics strategies, whether it be for incoming logistics or outward logistics. This has been accomplished through the use of distinctive identification codes that reflect the characteristics of the products. Visibility makes data clickable for every stakeholder, which enhances inventory management, lowers CAPEX, and reduces supply chain errors. It gets over the drawback of most enterprise resource planners, which only offer an inside look at the organization and have trouble ingesting external organizational data. In order to assist concurrent planning, visibility enables the unification of organizational supply chain information.

Major key players that are present in Air freight management market are Descartes, Oracle, Werner Enterprises, MercuryGate, SAP, Accenture, JDA Software, Ceva Logistics, UPS, DB Schenker, C.H., Robinson TMC, Riege Software, Retrans, BluJay Solutions, McLeod Software, FreightView, Freight Management, Linbis, Logisuite, DreamOrbit, Manhattan Associates, Magaya Corporation, Kuebix, ImageSoft, 3GTMS.

Some of the recent developments are:

By March 2020, the leading enterprise platform of the air freight software supplier Kontainers had been expanded to include trucking, international schedules, bills of lading, dashboard analytics, chat assistance, and cargo management.

A five-year agreement for air cargo software solutions was struck by Oman Air Cargo and CHAMP Cargosystems S.A. in February 2020. For Oman Air Cargo's digital transformation of cargo management services, CHAMP Cargosystems S.A. is supplying air cargo software solutions.

Market Segments

The Global Air Freight Management Market is segmented based on Components, Solutions, Services, End-User, Modes, and Regions.

Due to the increased demand for visibility, track and trace, security, and monitoring applications and technologies, the control and monitoring solutions sector within the solutions category is anticipated to dominate the market. Since there is the most freight movement in Asia Pacific (APAC), customers in this area would embrace freight management system products quickly, which is predicted to accelerate the growth of the total market over the course of the next five years.

The Third-Party Logistics (3PLs) category of end users is anticipated to dominate the goods management system market. Logistics service companies are anticipated to benefit from globalization and the expansion of global trade.

Major and Growing Geographies

North America is anticipated to account for the biggest market share during the projected period. This is due to the fact that many consumers in this region utilize goods management products and services. Due to the high rate of technological adoption and the presence of top solution providers in the market, North America is anticipated to be the area with the most developed growth prospects for the goods management system market. The US and Canada are part of the North American region, and they are both experiencing strong adoption rates for goods management systems. In reality, the US is predicted to have significant market domination because of its robust and established economy, which enables it to make significant investments in R&D activities and contribute to creating new products.

During the projected period, it is predicted that the Asia Pacific would gain a sizable market share. This market expansion might be attributed to the rising need for air freight software in developing countries like China and India for warehouse management. Additionally, the region's demand for software for shipment operations, planning, and execution is boosting market expansion.

Conclusion

The air freight management market is a critical component of the global logistics industry, facilitating the transportation of goods quickly and efficiently across borders. The market has been driven by a range of factors, including the growth of e-commerce, globalization, time-sensitive goods, infrastructure, technological advancements, and the regulatory environment. As businesses continue to seek faster and more efficient ways to transport goods, the demand for air freight management services is expected to continue to grow. To meet this demand, companies in the air freight management market are adopting new technologies and innovative strategies to improve their services and offer more value to their customers. With these developments, the future of the air freight management market looks promising, with continued growth and expansion on the horizon.