AIR CARGO DEMAND REACHES RECORD GROWTH IN 2024
On 29 January, the International Air Transport Association (IATA) released its air cargo market data for December and the full year of 2024, highlighting record growth in demand.
Compared to December 2023, total demand - measured in cargo tonne-kilometres (CTKs) - grew by 6.1% (7% for international operations), while capacity, measured in available cargo tonne-kilometres (ACTKs), increased by 3.7% (5.2% for international operations). European carriers recorded a 5.1% year-on-year increase in demand and a 3.7% rise in capacity compared to December 2023.
For the full year, global air cargo demand grew by 11.3% (12.2% for international operations) compared to 2023, surpassing the previous record set in 2021. Full-year capacity increased by 7.4% (9.6% for international operations). European carriers saw an 11.2% rise in air cargo demand in 2024, with capacity expanding by 7.8% year-on-year.
Willie Walsh, IATA’s Director General, noted that 2024 was a year of strong and profitable growth, driven by e-commerce and disruptions in ocean shipping. However, he warned that 2025 could bring challenges as the use of tariffs as policy tools may fuel inflation and dampen trade.
Source: IATA