Tracing the trajectory of the European air cargo market through some of the cargo airports in the continent, as they ride out the worst and best of times amidst global market volatility, muted air capacity, and capacity constraints. The market is estimated to grow at a CAGR of 8.1% from 2021 to 2028.
The air cargo business is an important backbone of Europe’s prosperity as it enables global trade and is an economic driver of the continent. A nonprofit body ‘The Airlines For Europe’ which represents over 70 percent of European air traffic puts Europe at the intersection of global trade, with European air cargo accounting for nearly 30% of exports and 21% of imports in value. According to a new market research study on “Europe Air Cargo Market to 2028 – Covid-19 Impact and Analysis and Forecast’ done by Research and Markets, the sector is expected to reach $49.23 billion by 2028 from $28.60 billion in 2021. The market is estimated to grow at a CAGR of 8.1% from 2021 to 2028.