Air freight companies can expect to see their revenue increase in the next five years - albeit at a very steady pace.

Research by IBISWorld has suggested that things are starting to look up for the sector, following on from an extremely testing period during the global financial crisis.

Air freight activity is said to have contracted at a compound annual rate of 6.4 per cent since the economy nose-dived in 2008, but IBISWorld industry analyst Andrew Johnson thinks the market will improve between now and 2017/18.

He remarked: "The growing volume of express parcels generated by online retail is expected to support industry growth as mail volumes decline."

A return to growth of 0.9 per cent is expected in 2013 and the industry will build on this in the next few years, the report stated.

Last month, Air Cargo World announced the winners of its 2013 Air Cargo Excellence Survey, which highlights the companies that have performed well in the sector.

Emirates SkyCargo, Thai Airways and Southwest Airlines were all given the Diamond Award - the highest honour possible.