Air Freight Market is Poised to Achieve Worth of USD 162.39 Billion by 2031 | SkyQuest Technology

Westford USA, Nov. 26, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Air Freight Market size will attain a value of USD 162.39 Billion by 2031, with a CAGR of 10.3% over the forecast period (2024-2031). A combination of factors has driven rapid expansion in the air freight market in recent times. With the growth of the e-commerce industry, rapid and cross-border shipments have been emerging as a high-demand area. Air freight has become a source of critical supply chain destination due to the rapidly rising expectations of customers who seek expedited deliveries. Moreover, technological development has swept through changes in the air freight market. It interlinks blockchain, AI, and IoT to achieve better security, operation optimization, and visibility of the supply chain. All these technologies enable speedy customs processing procedures, predictive maintenance of planes, and tracking of shipment in real time among others. Meanwhile, with growing environmental concerns, industry adoption of sustainable practices is on the rise. Furthermore, freight carriers and airlines on their part try to reduce their environmental footprint by investing in more fuel-efficient aircraft, researching alternative fuels, and adopting carbon-reduction plans.