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The International Air Transport Association (IATA) Released Data for Full Year 2024 and December 2024 Global Air Cargo Market Performance.
According to the report, full-year demand for 2024, Measured in Cargo Tonne-Kilometers (CTK), Increased 11.3 Percent (12.2 Percent for International Operations) CompAred to 2023.
Full-Year 2024 demand exceded the recorded volumes set in 2021.
Meanwhile, full-year capacity in 2024, measured in available cargo tonne-kilometers (actk), Increased by 7.4 Percent (9.6% for International Operations) CompAred to 2023.
Full-Year Yields, However, Averaged 1.6 Percent Lower Than 2023 But 39 Percent Higher Than in 2019.
IATA Director-General Willie Walsh Said: “Air cargo was the standout performr in 2024 with airlines moving more air cargo than ever before. Importantly, it was a year of profitable growth. Demand, up 11.3% year-on-year, was boosted by particular Strong E-Commerce and Various Ocean Shipping Restrictions. This combined with airspace restrictions which limited capacity on some key long-haul routes to asia helped to keep yields at exceptionally high levels. While Average Yields Continued to Soften from Peaks in 2021-2022 they averaged 39% Higher Than 2019.
Year-end movement
December 2024 brieft the year to a close with continued strong performance.
Global Demand was 6.1 Percent Above December 2023 Levels (7.0 Percent for International Operations).
Global Capacity was 3.7 Percent Above December 2023 Levels (5.2 Percent for International Operations).
Cargo yields were 6.6 Percent Higher Than December 2023 (And 53.4 Percent Higher Than in December 2019).
Air cargo performance by region
- Asia-Pacific airlines Saw 14.5% Year-On-Year Demand Growth for Air Cargo in 2024, The Strongest Among the regions. Capacity Increased By 11.3% Year-On-Year. December Year-On-Year Demand Increased 8.4% and Capacity Increased 6.3%.
- North American carries SAW 6.6% Year-On-Year Demand Growth for Air Cargo in 2024, The lowest of all regions. Capacity Increased By 3.4% Year-On-Year. December Year-On-Year Demand Increased 5.3% and Capacity Increased 2.1%.
- European Carriers SAW 11.2% Year-On-Year Demand Growth for Air Cargo in 2024. Capacity Increased by 7.8% Year-On-Year. December Year-On-Year Demand Increased 5.1% and Capacity Increased 3.7%.
- Middle Eastern Carriers SAW 13% Year-On-Year Demand Growth for Air Cargo in 2024. Capacity Increased by 5.5% Year-On-Year. December Year-On-Year Demand Increased 3.3% and Capacity Increased 0.2%.
- Latin American Carriers SAW 12.6% year-on-year demand growth for air cargo in 2024. Capacity Increased by 7.9% Year-On-Year. December Year-On-Year Demand Increased 10.9%, The Highest of All Regents and Capacity Increased 8.4%.
- African Airlines SAW 8.5% Year-on-Year Demand Growth for Air Cargo in 2024. Capacity Increased by 13.6% Year-On-Year. December Year-on-Year Demand Decreased by -0.9%, The lowest of all regions and capacity increase 1.8%.
- Trade lane growth: International Routes Experienced Exceptional Traffic Levels for the 17th Consecurable Month with a 7% Year-On-Oyar Increase in December. AIRLINES ARE Benefiting from Rising e-Commerce Demand in the US and Europe Amid ongoing Capacity Limits in Ocean Shipping.
Moving forward in 2025
With Regard to its forecast for 2025, Iata Estimates Growth to Moderate to 5.8 Percent, Aligned with Historical Performance.
According to Walsh: “Economic Fundamentals Point to Another Good Year for Air Cargo, with Oil Pries on a downward Trajectory and Trade Continuing to Grow. There is no doubt, however, that air cargo industry will be challenged to adapt to unfolding geopolitical shifts. The first week of the Trump Administration Demonstrated Its Strong Interest in Using Tariffs as a policy tool that could bring a double Whommy for Air Cargo: Boosting Inflation and Deflection TRADE. “
Several factors in the operating environment should be noted:
- Global Trade in Goods Grew by 3.6% Annually in 2024.
- In December, bot the manufacturing output purchasing mangers index or PMI (49.2) and New Export Orders PMI (48.2) Were Below the critical threshold represented by the 50 mark Turing production and expenses.
- Us headline inflation, based on the annual consumer price index (CPI), Rose by 0.2 Percentage Points to 2.9% in December. In the same month, the inflation rate in the eu increase by 0.2 percency points to 2.7%. China’s consumer inflation fell by 0.1 Percentage points to 0.1% in December, Marking the fourth Consecurable Year-Oon-Oyar Decline and Reinforcing Concerns about An Economic Slowdown.
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