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This study analyzes the impact of the COVID-19 pandemic on the air cargo industry. It also examines the growth in air cargo between 2020 and 2022 and identifies the trends driving this growth. The impact of past crises on global trade has also been presented. The study also highlights the leading stakeholders in the industry, such as carriers, air freight forwarders, airports, and aircraft. The key trends in the market are digitalization, autonomous operations, and sustainability. Air cargo volumes dipped significantly in 2020, largely due to the pandemic-induced mass cancellations of passenger flights. Halts in manufacturing in key regions also contributed to this decline. Moreover, critical supplies, such as vaccines, medical equipment, protective gear, etc., were prioritized by air freights.

Airports are a critical component for ferrying cargo. Since restrictions have begun to lift, governments have collaborated with logistic industry stakeholders to accelerate processes, such as customs and good clearances, and ease bottlenecks in the value chain. Governments and regulators have been working with the aviation industry to ensure seamless and quick operations. Since 2020, there has been a significant rise in demand for passenger-to-freight conversions. Aviation stakeholders have responded to this demand by enhancing their capabilities. The growth in eCcommerce is a key driver for this growth. The major stakeholders in the market, such as Amazon, FedEx, DHL, and UPS, have been increasing their capacities over the recent years.