The global air cargo market experienced significant growth in 2024, exceeding previous records set in 2021. The International Air Transport Association (IATA) reported an 11.3% increase in cargo ton-kilometers (CTK), driven by robust e-commerce and sea freight restrictions.
The global air cargo market recorded a significant advancement in 2024, with demand rising by 11.3 percent in cargo ton-kilometers (CTK) compared to 2023, surpassing the record set in 2021, according to the International Air Transport Association ( IATA ). This marks a new milestone in history, exceeding the 2021 level by 0.5 percent which was previously the highest record.
IATA Director General Willie Walsh said he characterized air cargo as a standout sector in 2024, with airlines transporting more cargo than before. 'Importantly, it was a profitable growth year. The 11.3 percent year-on-year demand increase was driven by robust e-commerce as well as various restrictions on sea freight. 'These factors, coupled with airspace constraints that limited capacity on some major long-haul routes to Asia, helped maintain results at a very high level. 'While average yields continued to decline from the peak of 2021 to 2022, they were still 39 percent higher compared to 2019,' he said in a statement. He clarified that the industry closed the year with strong momentum to continue its progress, despite facing complex challenges. 'The Asia-Pacific region remains the main driver of annual CTK industry growth, contributing 46.6 percent. However, this figure shows a decrease of 4.9 percentage points compared to the same period in 2023. 'For the whole year, capacity in 2024 measured in available CTK increased by 7.4 percent compared to 2023, with international operations recording a 9.6 percent increase,' he said. Looking ahead to 2025, Willie said IATA expects growth to slow to 5.8 percent, in line with historical patterns. 'Economic factors indicate another solid year for air cargo, with oil prices trending downwards and trade continuing to expand. 'However, the industry is sure to face challenges in adapting to the changing geopolitical landscape. 'The first week of the Trump administration previously showed a strong interest in using tariffs as a fundamental tool that could have a multifold impact on air cargo, increasing inflation and weakening trade,' he said.
AIR CARGO IATA DEMAND GROWTH RECORD E-COMMERCE SEA FREIGHT
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