The International Air Transport Association (IATA) reported significant growth in global air cargo demand in July 2024, marking the eighth consecutive month of double-digit year-on-year growth. Total demand, measured in cargo tonne-kilometres (CTKs), increased by 13.6% compared to July 2023, with international operations rising by 14.3%. Capacity also grew by 8.3%, driven by an increase in international belly capacity and freighter operations.
Willie Walsh, IATA’s Director General, highlighted that the air cargo sector continues to thrive, benefiting from global trade growth, e-commerce expansion, and limited maritime shipping capacity. Despite economic and political uncertainties, airlines have effectively adapted to meet emerging demand.
Regional Performance Highlights:
- Asia-Pacific: Saw the strongest demand growth at 17%, with the Within-Asia trade lane up 19.8%.
- North America: Experienced 8.7% growth, affected by Hurricane Beryl’s impact on flight operations.
- Europe: Recorded a 13.7% increase, led by the Middle East-Europe trade lane’s 32.2% growth.
- Middle East: Achieved 14.7% growth, with significant performance on the Middle East-Europe route.
- Latin America: Posted an 11.1% increase, also impacted by Hurricane Beryl.
- Africa: Had the lowest growth at 6.2%, with demand on the Africa-Asia market up by 15.4%.
Overall, the air cargo market is experiencing robust growth, supported by strong global trade dynamics and increasing capacity.
