Middle East and Africa Air Cargo Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Service, and End User

The air cargo market in the MEA is expected to reach US$ 27.82 billion by 2028 from US$ 17.70 billion in 2021. The market is estimated to grow at a CAGR of 6.7% from 2021 to 2028.

Air cargo stakeholders across the region have a huge opportunity in countries such as South Africa.Airports in the region are the fastest growing airports in the world.

The Turkish Cargo is increasing its presence with the launch of new freighter services.The airports of countries across the region are supporting national carriers to expand air freights and also encouraging operators to increase services.

Several companies have strategically expanded their operations in the region.With the developing policies and infrastructure, it is expected that the countries across the region will exhibit a huge opportunity for air cargo vendors during the forecast period.

The region’s fundamental growth drivers remain robust. The region’s economy has grown significantly in the last decade. With the expanding middle-class and the growing personal consumption, the inclination to travel is increasing. In addition, governments in the region are recognizing the travel and tourism sectors as one of the most important drivers of economic growth.

Based on services, the regular segment led the MEA air cargo market in 2020.Regular services are suitable for cost-sensitive customers that are less bothered about flexibility and delivery time.

These services are opted for exporting goods such as electronic products and automotive.Vendors offer regular services at competitive prices, with features such as real-time tracking and early access at airports.

The regular services segment is expected to witness significant growth during the forecast period, owing to the escalating trade of electronic goods.

The major countries in the MEA that are facing the economic impact of COVID-19 include Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait. However, as per a 2020 report by IATA, Middle Eastern carriers posted an 8.8% rise in international cargo volumes in February versus February 2019. Of the region’s key international routes, Middle East–Asia and Middle East–North America have provided the most significant support, rising 27% and 17%, respectively, in February compared to February 2019. February capacity was down 14.9% compared to the same month in 2019. Moreover, the African airlines’ cargo demand in February increased a massive 44.2% compared to the same month in 2019. This can be attributed to the extensive expansion on the Asia–Africa trade lanes that has contributed to the strong growth. Furthermore, as per IATA, international capacity grew by 9.8% compared to February 2019. Hence, the overall region is witnessing positive growth influenced by the pandemic.

The overall MEA air cargo market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the MEA air cargo market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the MEA air cargo market. Cargolux; Cathay Pacific Airways Limited; DHL International GmbH (Deutsche Post DHL Group); Emirates SkyCargo; Etihad Cargo; FedEx Corporation; Lufthansa Cargo AG; United Parcel Service of America, Inc.; and Zela Aviation The Air Charter Company are among the players operating in the market.