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Global air cargo market rises 8.2 percent in November
(MENAFN) The global air cargo market experienced a positive performance in November, with total demand, measured in cargo tonne-kilometers (CTK), rising by 8.2 percent compared to November 2023, according to data from the International Air Transport Association (IATA) released on Thursday. This increase in demand highlights a strong recovery in the sector and a positive trend in air freight.
At the same time, the total capacity for aircraft cargo, measured in available cargo tonne-kilometers (ACTK), grew by 4.6 percent in November compared to the same month in the previous year. This growth in capacity, although lower than the demand increase, indicates that air cargo providers have been expanding their services to meet growing needs.
IATA’s Director General, Willie Walsh, commented on the strong demand growth, noting that the 8.2 percent rise in demand almost doubled the 4.6 percent growth in capacity. He expressed optimism that this strong performance would likely continue into 2025, though he also cautioned about potential downside risks, including inflation, geopolitical uncertainties, and trade tensions, which could dampen future growth.
The demand for air cargo could be influenced by factors such as global industrial production and the growth of global goods trade, which are expected to boost cargo demand. However, concerns about an economic slowdown could counterbalance this growth and lead to a potential reduction in air cargo volumes.
At the same time, the total capacity for aircraft cargo, measured in available cargo tonne-kilometers (ACTK), grew by 4.6 percent in November compared to the same month in the previous year. This growth in capacity, although lower than the demand increase, indicates that air cargo providers have been expanding their services to meet growing needs.
IATA’s Director General, Willie Walsh, commented on the strong demand growth, noting that the 8.2 percent rise in demand almost doubled the 4.6 percent growth in capacity. He expressed optimism that this strong performance would likely continue into 2025, though he also cautioned about potential downside risks, including inflation, geopolitical uncertainties, and trade tensions, which could dampen future growth.
The demand for air cargo could be influenced by factors such as global industrial production and the growth of global goods trade, which are expected to boost cargo demand. However, concerns about an economic slowdown could counterbalance this growth and lead to a potential reduction in air cargo volumes.
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