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Industrialization forms an important part of any country’s economic growth and development, and has played a key role in increasing import-export activities across the globe. These factors have augmented the frequency of commercial aircraft carrying large volumes of freight. Cargo aircraft is mainly used to transport large volumes of freight to ensure that industrial activities run smoothly.
According to data published by the International Air Transport Association (IATA), while the demand for air freight in 2022 was 8% lower than that of 2021, it was still closer to the pre-pandemic levels, down by only 1.6% as compared to 2019. This factor will further accelerate the growth of the air cargo industry over the coming years.
Business Research Insights has estimated that the market for air cargo will reach USD 111.81 billion by 2028.
The following is a list of top 7 companies offering innovative air cargo solutions across the globe:
1. China Cargo Airlines
China Cargo Airlines is one of the leading cargo airlines in the world with its head office in Shanghai, China. It is China’s first all-cargo airline that offers dedicated air freight services by using the route structure prepared by the China Eastern Airlines. The airline was established in 1998 and is a joint venture between China Ocean Shipping and China Eastern Airlines.
January 2023: China Airlines dedicated eight Boeing 777F aircraft to transport a wide range of delicacies from New Zealand to Taipei. These delicacies, weighing 1,763,000 pounds, included lobsters, oysters, fresh cherries, and chilled salmon.
2. FedEx Express
FedEx Express is one of the leading cargo airlines based in Memphis, U.S. and, as of 2020, is one of the largest airlines in the world in terms of freight tons transported and fleet size. The airline commenced its operations in 1973 and is known to deliver a wide range of packages and freight to over 375 destinations in more than 220 countries every day.
February 2022: FedEx Express introduced a trans-Atlantic freighter aircraft that will fly from Paris to its hub in Indianapolis through its East Midlands Airport in the U.K. The new flight will help the airline enhance its capacity for exporters that need next-day delivery to the U.S. market.
3. UPS Airlines
UPS Airlines is an American cargo airline with its headquarters in Louisville, Kentucky. It is the world’s second-largest cargo airline in terms of the total freight volume transported. Founded in 1988, the airline transports freight to 815 destinations across the globe. The airline’s main hub is at the Louisville International Airport in the U.S., where it has constructed a 5,200,000 sq. ft. facility called ‘UPS Worldport’. UPS also has secondary hubs around the U.S. as well as international hubs in China, Germany, and Hong Kong.
November 2021: UPS Airlines started its first air cargo flight between India and Europe by flying a cargo aircraft between Cologne, Germany and Delhi, India. This move will help the company double its previous freight carrying capacity to and from India for customers belonging to the country’s SME sector.
4. Cathay Pacific Cargo
Cathay Pacific Airways started its operations in 1946 as a small-scale regional freight operator and has now become one of the most renowned combination cargo carriers in the world. With its headquarters in Hong Kong, Cathay Cargo operates a fleet that includes 14 innovative 747-8Fs and six 747-400ERFs (Extended Range Freighter), making a fleet of 20 Boeing 747 freighters. Cathay Pacific Cargo has the capacity to carry over 168,000 tons of freight each month.
February 2023: Cathay Pacific Cargo developed an intermodal sea-air cargo handling solution that will commence between Greater Bay Area in South China and Hong Kong. This solution is expected to reduce the overall costs incurred and time required to ship large volumes of cargo.
5. DHL Aviation
DHL Aviation is a Bahrain-based air transport company, which is a subsidiary of DHL and is a group of airline carriers that are either owned, co-owned, or chartered by DHL Express. The airline owns 6 main airlines, which offer a wide range of freight transportation services. DHL Aviation has its hubs in Bangalore, Hong Kong, East Midlands, Cincinnati, London-Heathrow, Leipzig/Halle, and Milan-Malpensa.
July 2022: DHL Aviation began its direct freighter service from Bahrain to Delhi. This move helped Delhi increase its freighter connections to 17 every week and linked both North and East India to more than 220 countries and territories in DHL’s global network.
6. Korean Air Cargo
Korean Air was founded in 1962 in South Korea and offers a variety of special cargo charter solutions to customers across the world to cater to unique needs of customers. It is one of the 10 airlines that has received a 5-star rating and also one of the leading international cargo carriers.
7. Cargolux
Cargolux is a flag carrier cargo airline company based in Luxembourg. It was founded in 1970 and is one of the biggest scheduled all-cargo airlines in the European region. Cargolux provides an expansive range of solutions and covers over 90 destinations.
What does the future of the air cargo industry look like?
The global air cargo industry is expected to grow at a robust pace as import-export activities are witnessing a notable surge post the COVID-19 crisis. As industrial activities continue to resume and return to normalcy, the need for raw materials is predicted to skyrocket to compensate for the severe losses incurred by various industries due to shortage of materials. These factors will further boost the frequency of air freight operations.