India air cargo volumes projected to reach 6.9m tonnes by FY2030

By James Calloway

India’s air cargo and express logistics market is projected to grow from approximately 3.9 million tonnes in FY2026 to 6.9 million tonnes by FY2030, according to Makreo Research’s India Air Cargo and Express Logistics Market and Forecast to 2031.

Pharmaceutical and electronics exports, e-commerce shipments, new airport cargo hubs and transshipment reforms underpin the forecast. Yet Makreo estimates airport cargo-handling infrastructure operated at 42.12% capacity utilisation in FY2023–24, leaving room to absorb demand before every planned facility reaches full output.

For airlines, forwarders and express integrators, the issue is conversion rather than announcement volume. Shippers can gain routing options and processing speed; carriers need feeder density and handling throughput; forwarders need reliable schedules and road connections.

Vartika Singhal said: “India’s air cargo opportunity lies in converting new airport capacity into higher throughput, stronger regional connectivity and more efficient express logistics networks.”

Why does a 0.06% modal share still matter?

Makreo Research ranks India sixth-largest among the world’s air cargo markets, but air freight contributes only about 0.06% of national freight transport activity, measured in tonne-kilometres. Air cargo still carries high-value, time-sensitive pharmaceuticals, electronics, perishables and express shipments for which speed and handling reliability outweigh modal cost alone.

Makreo estimates revenue for India’s air cargo and courier services market grew at an approximate 1.30% compound annual rate from FY2023 through FY2026E. The research said this revenue-based measure differs from projected physical cargo volumes, so the two figures do not provide a direct like-for-like signal of demand.

Where is India’s air cargo concentrated?

Makreo Research puts Northern India’s share of national air cargo and courier-services revenue at approximately 32.32%, supported by international freight links, manufacturing clusters and e-commerce demand. Delhi Airport handled around 0.63 million tonnes in H1 FY2027, up 12.2% year on year.

Concentration remains pronounced. Delhi, Mumbai, Bengaluru and Chennai together handled about 80% of India’s air cargo in 2024, according to IATA. Hyderabad Airport processed approximately 102,000 tonnes in H1 FY2027, up 5.8% year on year, supported by pharmaceuticals and other time-sensitive shipments.

For shippers and freight forwarders, established gateways still offer the deepest airline networks and express schedules. Regional airports create alternatives, but Makreo cautions that new infrastructure alone will not lift throughput without better capacity utilisation, handling efficiency and regional connectivity.

How much do pharmaceutical exports matter?

According to Makreo Research, pharmaceutical exports exceeded USD 30.5 billion in FY2026, and the sector accounts for nearly 70% of outbound air cargo shipments. The United States and Europe are the main destination markets.

Hyderabad commissioned a second cargo terminal in May 2026 with a fully temperature-controlled pharmaceutical zone. The facility starts at 50,000 tonnes annually and can expand to 100,000 tonnes, giving exporters dedicated handling and additional cold-chain capacity in a leading regional gateway.

Is e-commerce changing the express network balance?

Makreo estimates India’s domestic air cargo approached 1.5 million tonnes in FY2026. Tier-II and Tier-III cities generate more than 45% of online shopping demand, increasing the commercial case for regional air links and integrated air-road networks.

International express logistics remains export-heavy: exports represent about 75–80% of shipments, and daily export consignments reached roughly 45,000–48,000 in FY2026, compared with about 12,000 imports. Makreo estimates technology-driven air freight and multimodal networks serving smaller cities could grow by more than 20% annually.

Delhivery handled 325 million express parcels in Q2 FY2027, up 32% year on year. Blue Dart reported 15% revenue growth and an 85% increase in profit after tax in Q1 FY2027. For shippers, those figures show greater express-network scale, although the disclosed data provides no lane-rate information.

How much new capacity is planned?

Makreo Research puts India’s required aviation investment at more than USD 170 billion through 2030, including USD 24 billion for airport expansion and USD 150 billion for aircraft orders. Operators also expect INR 25,000 crore of airport cargo infrastructure spending over the next five to seven years.

Noida International Airport began operations in June 2026 with initial annual cargo capacity of 200,000 tonnes, expandable to 1.5 million tonnes. Navi Mumbai International Airport handled 11,853 tonnes from January through September 2026, including 6,477 tonnes of international freight.

FedEx is developing a 300,000-square-foot automated hub at Navi Mumbai, backed by more than INR 2,500 crore in long-term investment. Its USD 150 million Delhi facility targets a jump in processing from 600 to 5,000 packages per hour.

Blue Dart Express opened a 250,000-square-foot multimodal logistics hub in Delhi in January 2025, with capacity for approximately 550,000 shipments a day. UPS SCS India nearly doubled Delhi–Cologne air cargo capacity in June 2025 by adding a Boeing 747-8 freighter, strengthening the India–Europe service.

The Makreo study covers 12 companies in the Indian air cargo and express logistics market, including Blue Dart Express, DHL Express (India), FedEx (India) and UPS SCS (India).

Can new infrastructure deliver the forecast?

The forecast depends on turning nominal capacity into cargo throughput. Airports need higher utilisation and better regional links; express integrators and freight forwarders need efficient transshipment, automation and multimodal connections. Pharmaceutical and electronics exporters will keep pressing for specialised facilities and dependable international connectivity.

Over the next five to seven years, the INR 25,000 crore cargo programme and planned aircraft orders will test whether India can move beyond FY2023–24’s 42.12% utilisation. If airports, carriers and forwarders convert those investments into dependable regional and international services, the path to 6.9 million tonnes by FY2030 becomes clearer; otherwise, announced capacity may continue to sit underused.