Latin America Air Freight Market Valued at USD 21.17 Billion in 2025: IMARC Group Forecasts 4.99% CAGR Through 2034

Market Overview

The Latin America air freight market was valued at USD 21.17 Billion in 2025 and is forecast to grow at a CAGR of 4.99% from 2026 to 2034, reaching USD 32.81 Billion by 2034. The market growth is fueled by expanding e-commerce, rising cross-border trade, and demand for timely, high-value cargo transport. Infrastructure improvements, nearshoring, and digital transformation further enhance operational efficiency and market expansion.

Study Assumption Years

• Base Year: 2025
• Historical Year/Period: 2020-2025
• Forecast Year/Period: 2026-2034

Latin America Air Freight Market Key Takeaways

• Current Market Size: USD 21.17 Billion in 2025
• CAGR: 4.99% (2026-2034)
• Forecast Period: 2026-2034
• The freight segment led with a 55% share in 2025, driven by industrial growth and e-commerce demand.
• International air freight accounted for 65% of the market in 2025, reflecting strong global trade links.
• Commercial cargo dominated with a 70% share, supported by manufacturing and retail sector growth.
• The market is shaped by nearshoring efforts in Mexico and Central America, redirecting manufacturing closer to North America.
• Investments in cold chain logistics are rising to support perishables and pharmaceuticals shipments.

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Latin America Air Freight Market Growth Factors

E-Commerce and Retail Expansion

The market is propelled by rapid e-commerce growth demanding swift delivery services. In November 2025, LATAM Cargo increased Brazil capacity by 12% to manage Black Friday demand, adding new routes and improving frequency. Rising online shopping and fast delivery expectations enhance reliance on air freight for electronics, apparel, and perishables. Businesses are investing in faster logistics solutions, with air freight positioned as critical to meet evolving consumer demands.

Cross-Border Trade Increase

Latin America’s strategic location between North America, Europe, and Asia fuels growth via heightened international trade flows. Trade agreements and integration stimulate demand for air cargo capable of handling time-sensitive, high-value exports such as perishables and industrial goods. Mexico's manufacturing trade with the U.S. reached USD 234.2 billion in early 2023, illustrating cross-border trade magnitude aiding the air freight market expansion.

Infrastructure and Technology Advancements

Investments in airport infrastructure, cargo handling, and logistics hubs improve efficiency, capacity, and reduce transit times. Brazil adopted the electronic air waybill (eAWB) fully in April 2025, streamlining documentation and reducing costs. Digital tracking, automation, and supply chain tools enhance reliability and attract businesses. Together, infrastructure and technology upgrades strengthen competitiveness and support sustained market growth.

Market Segmentation

Service:

• Freight: Dominates with 55% share in 2025, driven by e-commerce growth and industrial activity. Efficient air logistics facilitate high-value goods and manufacturing component transport.
• Express
• Mail
• Others

Destination:

• Domestic: Holds smaller share compared to international
• International: Largest segment with 65% share in 2025, supported by strong trade corridors to North America, Europe, and Asia.

End User:

• Private
• Commercial: Leads with 70% market share in 2025, driven by manufacturing, retail, and e-commerce demand for timely cargo transport.

Country:

• Brazil: Growth driven by e-commerce, exports, and high-value cargo. Infrastructure and logistics technology improvements support efficiency.
• Mexico: Expanding due to cross-border trade, manufacturing, and nearshoring trends boosting logistics networks.
• Argentina: Growth via agricultural exports, consumer goods transport, and e-commerce shipments supported by improved cargo facilities.
• Colombia: Increase through perishables, industrial goods exports, and e-commerce with investments in logistics infrastructure.
• Chile: Growth supported by high-value exports and enhanced international connectivity.
• Peru: Driven by mining, agriculture exports, and e-commerce demand backed by supply chain improvements.
• Others: Emerging growth through rising industrial shipments, e-commerce, infrastructure upgrades, and trade facilitation.

Regional Insights

Latin America dominates due to strategic global positioning with a 65% international air freight share in 2025. Nearshoring, particularly in Mexico and Central America, strengthens North American trade corridors. The region’s infrastructure development and cold chain logistics investments support growing exports of perishables and pharmaceuticals. These factors collectively underpin a sustained growth trajectory in the Latin America air freight market.

Recent Developments & News

In June 2025, Aliança Navegação e Logística, a Maersk subsidiary, commenced air freight services in Brazil between Manaus and São Paulo, targeting automotive, electronics, technology, and food cargo. In February 2025, Azul Cargo Express introduced two Airbus A321P2F freighters in Brazil, increasing payload capacity by 39% and reducing fuel consumption per tonne by 27%. In September 2024, Scan Global Logistics acquired Blu Logistics Brasil to enhance air freight capacity and cross-border connectivity. In May 2024, DHL Supply Chain partnered with Levu Air Cargo to launch a domestic air network in Brazil with four freighter aircraft, improving express logistics capabilities.

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Key Players

• LATAM Cargo
• FedEx
• Aeroméxico Group
• AeroUnion (Avianca Cargo Mexico)
• Modern Logistics
• Total Linhas Aéreas
• Aliança Navegação e Logística (Maersk subsidiary)
• Azul Cargo Express
• Scan Global Logistics
• Blu Logistics Brasil
• DHL Supply Chain
• Levu Air Cargo

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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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