Wednesday, August 28, 2024 The International Air Transport Association (IATA) has published data for July 2024, revealing sustained and robust growth in global air cargo demand. “Air cargo demand hit record highs year-to-date in July with strong growth across all regions. The air cargo business continues to benefit from growth in global trade, booming e-commerce and capacity constraints on maritime shipping.
With the peak season still to come, it is shaping to be a very strong year for air cargo. And airlines have proven adept at navigating political and economic uncertainties to flexibly meet emerging demand trends,” said Willie Walsh, IATA’s Director General . Several key factors in the operating environment are worth noting: Detailed Analysis of the Air Cargo Market – July 2024 Region World Share (%) CTK (Year-on-Year) ACTK (Year-on-Year) CLF (%-pt) CLF (Level) Total Market 100% 13.
6% 8.3% 2.1% 44.
4% Africa 2.0% 6.2% 10.
5% -1.6% 40.0% Asia Pacific 33.
3% 17.6% 11.3% 2.
6% 48.0% Europe 21.4% 13.
7% 7.6% 2.7% 49.
6% Latin America 2.8% 11.1% 9.
4% 0.5% 33.8% Middle East 13.
5% 14.7% 4.4% 4.
1% 45.8% North America 26.9% 8.
7% 7.0% 0.6% 38.
2% 1% of industry CTKs in 2023. Asia-Pacific Airlines: Asia-Pacific airlines experienced the highest year-on-year demand growth for air cargo in July 2024, with an impressive 17.6% increase.
Demand on the Within-Asia trade lane surged by 19.8%, while other key routes, including Europe-Asia, Middle East-Asia, and Asia-Africa, saw gains of 17.9.