Market Size of Chile Air Freight Transport Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 666.49 Million |
| Market Size (2029) | USD 943.36 Million |
| CAGR (2024 - 2029) | 7.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Chile Air Freight Transport Market Analysis
The Chile Air Freight Transport Market size is estimated at USD 666.49 million in 2024, and is expected to reach USD 943.36 million by 2029, growing at a CAGR of 7.20% during the forecast period (2024-2029).
The increase in the use of cold chain technology, robotics, automation systems, artificial intelligence (AI), big data, deep learning, the Internet of Things, and augmented and virtual reality in multiple operations is expected to promote the growth of the Chilean air freight transport market. Due to the global spread of the COVID-19 pandemic, the demand for the air freight industry has fallen sharply. Throughout 2020, Chile's air freight volume was quite low. The economic crisis caused by the strict lockdown in the country has severely affected Chile's air freight transport. In 2019, air freight transport for Chile was 1,232.4 million ton-km.
The advancement of air freight technology and the increased awareness of cargo operators of the possible benefits of the latest technology are expected to promote the growth of the Chilean air cargo market. Additionally, due to the increase in income population and globalization, the demand for goods and services has increased significantly. Airfreight companies are increasingly focusing on digitization to improve efficiency, reshaping the air freight transport market. Since capital investment in the air freight industry takes time to recover, manufacturers are focusing on improving efficiency and reducing operating costs to maintain profitability. The growth of foreign trade is likely to have a positive impact on Chile's air freight transport market. The country's ideal geographic location offers great potential for countries, such as Europe, Asia, Southern countries, and Central America, which can be connected by air, sea, or land transportation.
