Air Freight Volume Skyrockets

January’s Air Freight Volume Skyrockets by 18.4%

January’s Air Freight Volume Skyrockets by 18.4%

According to the International Air Transport Association (IATA) data for January 2024, the global air cargo market had a strong start. Demand measured in cargo tonne-kilometers (CTKs) increased by 18.4%, and available cargo tonne-kilometers (ACTKs) increased by 14.6%. The booming e-commerce sector was the main driver of demand growth. The annual growth rate in cargo tonne-kilometers (CTKs) reached its highest level since the summer season of 2021. However, IATA’s Director General, Willie Walsh, also expressed concerns about the uncertainty over China’s economic slowdown.

Regarding regional performance, Asia-Pacific airlines had the highest increase in air cargo volumes by 24.6%, while North American carriers had the weakest performance with a 9.3% increase in cargo volumes. European carriers witnessed an increase of 16.4% in air cargo volumes, and Middle Eastern carriers had the strongest performance with a 25.9% increase in cargo volumes. African airlines saw an increase in air cargo volumes by 17.0%, and Latin American carriers experienced a 13.4% increase in cargo volumes in January 2024 compared to the previous year.

This surge in demand was primarily fueled by the expanding e-commerce sector, despite lingering concerns over China’s economic deceleration. The upcoming IATA World Cargo Symposium aims to address key topics including digitalization, efficiency, and sustainability.
Additionally, the text delves into regional performances within the air cargo transportation sector. Notably, carriers in the Asia-Pacific and Middle Eastern regions demonstrated the most robust performance in January 2024, in contrast to North American carriers who showed the least. It highlights that the growth of air cargo transportation has recently surpassed that of cross-border trade and production.
In essence, the insights provided illuminate the air cargo industry’s performance in January 2024, unveiling both potential opportunities and challenges that lie ahead for the sector. At Bringer Air Cargo, we have seen this increase in performance especially in our Asia Pacific lanes. We’ve also seen this increase in our ecommerce delivery subsidiary (BPS); specifically from the US to Mexico and Brazil.

Air Cargo Demand up 18.4% in January .

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