Air freight volume in South Korea stood at 15.19 billion tonne kilometers in 2023, experiencing a 1.91% year-on-year increase from 2022. Strong growth was seen in 2021 with a peak of 15.37 billion tonne kilometers, following a substantial 23.39% increase from the previous year. The compound annual growth rate (CAGR) over the last five years stands at 5.69%, indicating a robust performance in the air freight sector.
Looking forward, the forecast projects continued growth, reaching 16.56 billion tonne kilometers by 2028. The five-year forecasted CAGR is 1.37%, with a cumulative growth rate of 7.06% over the period from 2024 to 2028.
Future trends to watch for include:
- Technological advancements in air freight logistics.
- Increased e-commerce demand driving air freight volume.
- Market shifts due to geopolitical and economic factors.
- Sustainability initiatives impacting operational efficiencies.
