DUBLIN, July 14, 2021 / PRNewswire / – The report “Freight Chartered Air Transport Global Market Report 2021: COVID-19 Impact and Recovery to 2030” has been added to ResearchAndMarkets.com offer.

The global charter air freight market is expected to grow by $ 18.05 billion in 2020 at $ 20.1 billion in 2021 at a compound annual growth rate (CAGR) of 11.4%.

The major players in the cargo charter air transport services market are Air Charter Service, Air Transport Services Group, Inc., Stratos Jet Charters, Inc., Cargo Air Chartering, Cathay Pacific Airways Ltd., Air Partner and Fliteline.

The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges.

The market is expected to reach $ 29.67 billion in 2025 at a CAGR of 10.2%.

The freight chartered air transport services market comprises the sales of chartered air transport services by entities (organizations, sole proprietorships and partnerships) that use aircraft, such as airplanes and helicopters, to provide air transport services. chartered (non-scheduled) for freight. at a toll per mile or hour for chartering the aircraft. Only goods and services traded between entities or sold to final consumers are included.

The high prices associated with charter freight services are expected to hamper the air charter market. The cost of freight charter depends on many factors such as the point of origin and destination, type of cargo being shipped, dimensions and weight. For example, the prices of freight and logistics are higher $ 500,000 for a Asia–Europe A330 charter and more $ 21 per kilogram on transatlantic routes for certain urgent shipments.

In addition, the cost of the B777 or B747 carrying 100 tonnes of freight was $ 470,000 earlier, which now costs between $ 850,000 and $ 1 million for a round trip with e-commerce merchandise and general merchandise from Europe at China. Therefore, the skyrocketing cost of freight charter services is expected to hamper the market.

The Air Cargo Charter market covered in this report is segmented by Freight Type Urgent Freight, Heavy Freight & Overseas, Dangerous Freight, Animal Transportation, Others, by Application for Private Use, Commercial Use.

The growing need for urgent shipments of dangerous goods and hazardous materials is expected to boost the charter air transport market. Sensitive cargo containing dangerous and hazardous goods, including explosives, highly flammable gases, radioactive materials, military items, toxic and infectious substances, require a special skill set and specialized knowledge to ship the goods. These goods are transported by chartered freight to avoid explosions and contamination.

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For example, the Federal Aviation Administration (FAA) of United States, has granted authority for charter freight services as well as training for all employees, in the form of a Part 135 certificate, to operate on demand under the FAA approved hazardous materials program. Urgent shipment of dangerous goods and hazardous materials is therefore expected to drive the market growth.

Main topics covered:

1. Summary

2. Characteristics of the air charter freight transport market

3. Trends and Strategies in the Air Charter Freight Transport Market

4. Impact of COVID-19 on air charter freight transport

5. Size and Growth of the Air Cargo Charter Market
5.1. Historical global charter cargo air transport market, 2015-2020, in USD billion
5.1.1. Market drivers
5.1.2. Market constraints
5.2. Global Charter Air Cargo Forecast Market, 2020-2025F, 2030F, in USD Billion
5.2.1. Market drivers
5.2.2. Market constraints

6. Market segmentation of air freight chartered transport
6.1. Global Cargo Charter Air Transport Market, Cargo Type Segmentation, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion

• Time critical cargo

• Heavy and external loads

• Dangerous cargo

• Animal transport

• Other

6.2. Global Cargo Charter Air Transport Market, Segmentation by Application, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion

• Private use

• Commercial use

6.3. Global Cargo Charter Air Transport Market, Segmentation by End Use, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion

• Wealthy individuals

• Sports teams

• Large companies

7. Regional and national analysis of the air freight transport market
7.1. Global Freight Charter Air Transport Market, Divided by Region, Historical and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billions
7.2. Global freight chartered air transport market, divided by country, historical and forecast, 2015-2020, 2020-2025F, 2030F, in billions of dollars

Companies mentioned

• Air charter service

• Air Transport Services Group Inc.

• Stratos Jet Charters Inc.

• Air freight charter

• Cathay Pacific Airways Ltd.

• Airline partner

• Fliteline

For more information on this report, visit https://www.researchandmarkets.com/r/e16kpv

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SOURCE Research and Markets