The International Air Transport Association (IATA) has released its latest data, indicating a persistent strength in air cargo demand, despite the ongoing economic challenges. According to the report, the global demand for air freight, measured in cargo ton kilometres (CTKs), remained steady, showcasing a marginal decline of 0.1% in August 2024 compared to the same month in 2023. This resilience underscores the pivotal role of air cargo in facilitating international trade and supporting global supply chains.
Notably, the report highlights that cargo capacity has increased, with available ton kilometres (ATKs) rising by 4.3% year-on-year. The positive capacity growth reflects airlines’ efforts to meet ongoing demand while optimising their operations. This surge in capacity is essential as the industry adapts to fluctuations in global trade patterns and shifts in consumer behaviour.
IATA’s Director General, Willie Walsh, pointed out that the air cargo market is experiencing a rebalancing phase, driven by changes in demand dynamics. He emphasised that although overall demand remains slightly lower than last year, the sector has seen positive growth trends in specific regions. For instance, air cargo demand in Asia-Pacific continues to rebound, driven by robust manufacturing activities and increased exports. This trend is particularly evident in countries like China and India, where production levels are surging.
The report also indicates significant growth in air cargo volumes for specific sectors, including e-commerce, pharmaceuticals, and perishables. The ongoing rise of e-commerce has led to an increased reliance on air transport to ensure quick delivery times, a trend that is expected to persist in the coming years. Furthermore, the critical need for transporting temperature-sensitive pharmaceuticals has bolstered demand for specialised air cargo services, as healthcare providers prioritise timely and safe delivery.
As global economic uncertainties, such as inflationary pressures and geopolitical tensions, persist, the air cargo industry remains committed to innovation and sustainability. The adoption of advanced technologies, such as digital platforms and enhanced tracking systems, is helping streamline operations and improve efficiency, allowing for better responsiveness to market demands.