ÌÇÐÄvlog´«Ã½

GCC Air Freight Transport Market Analysis

The GCC Air Freight Transport Market size is estimated at USD 16.81 billion in 2024, and is expected to reach USD 24.08 billion by 2029, growing at a CAGR of 7.46% during the forecast period (2024-2029).

• According to IATA’s May 2023 data, cargo volumes for the Middle East carriers decreased by 6.8 percent year-over-year in April of 2023. This was a slight decrease from the 5.5 percent in March 2023. However, compared to April of 2022, the capacity grew by 10%.
• This could be due to the air freight industry adapting to the recovery of passenger demand, which brings with it belly capacity. However, IATA also noted some tailwinds, such as an improvement in the purchasing managers index in April, which is a sign of global export demand and of an improving purchasing manager’s index in China.
• The location of the region in trans-continental trade has promoted its focus on the development of domestic and transit commodity logistics hubs. To take advantage of the geographical advantages, the governments of the Gulf countries are investing heavily in the improvement and expansion of their airport infrastructure.
• The Middle East will become one of the world’s fastest-growing aviation markets in the next ten years due to the massive economic transformation that many Gulf and other countries are undergoing, and many of them have become key transportation hubs for people and cargo, as well as the expansion of aviation into Africa and the success of cargo operations in countries such as Turkey and a number of Gulf countries.
• The GCC air freight market is likely to experience a temporary downturn in the near future due to a lack of demand and an oversupply of both air and ocean cargo capacity, which has caused rates to drop drastically.
• In the medium to long term, air cargo is expected to grow in the GCC region as a result of government policies and partnerships, as well as moves towards integration and cooperation. This will help to improve the efficiency of multimodal networks and facilitate trade.

GCC Air Freight Transport Industry Segmentation

Airfreight is a transportation mode of delivering fast-speed shipments via aircraft, primarily for longer distances. The report offers a complete background analysis of the GCC air freight industry, including an assessment and contribution of the sector in the economy, market overview, market size estimation for key segments, key countries and emerging trends in the market segments, market dynamics, and key air freight parameters. The report also covers the impact of COVID-19 on the market.

The GCC air freight transportation market is segmented by services, by destination and by country. By services, the market is segmented by forwarding, airlines, mail, and other services. By destination, the market is segmented by domestic and international, and by country, the market is segmented by Saudi Arabia, United Arab Emirates, Qatar, and the Rest of GCC. 

The report offers market size and forecasts for the GCC air freight transport market in value (USD) for all the above segments.