The International Air Transport Association (IATA) has published performance data for the air cargo market in 2024 and December 2024.
Record Growth in Air Cargo Demand
In 2024, air cargo demand, measured in cargo tonne-kilometres (CTK), increased by 11.3% compared to 2023. This growth stood at 12.2% for international operations. The year 2024 surpassed the record volumes set in 2021.
Air cargo capacity (ACTK) saw an annual increase of 7.4%, while international capacity grew by 9.6%.
Annual yields were on average 1.6% lower than in 2023 but remained 39% higher than in 2019.
December 2024 Performance
In December 2024, global demand was 6.1% higher than in December 2023. For international operations, this increase was recorded at 7%. Global capacity expanded by 3.7%, while international capacity growth reached 5.2%.
IATA Director General Willie Walsh commented on the 2024 air cargo market, stating:
“2024 was a remarkable year for air cargo. Demand increased by 11.3%, driven by strong e-commerce and disruptions in ocean shipping. Airlines maintained yields at high levels, particularly on long-haul routes to Asia, where airspace restrictions presented challenges. On average, yields remained 39% higher than in 2019.”
Outlook for 2025
IATA expects air cargo demand to grow by 5.8% in 2025, aligning with historical growth trends. However, risks related to geopolitical developments remain.
Walsh noted, “The economic fundamentals suggest a positive year ahead for 2025. However, concerns persist over trade policies and inflation, which could influence tariffs and economic stability.”
Regional Performance
- Asia-Pacific: Annual demand rose by 14.5%, the highest increase among regions. December demand grew by 8.4%.
- North America: Recorded the lowest annual growth rate at 6.6%. December growth stood at 5.3%.
- Europe: Annual demand increased by 11.2%, while capacity grew by 7.8%. December demand rose by 5.1%.
- Middle East: Demand grew by 13% annually and increased by 3.3% in December 2024.
- Latin America: Recorded the highest December growth at 10.9%, with an annual increase of 12.6%.
- Africa: Annual growth reached 8.5%, although demand declined by 0.9% in December.
Trade Lane Growth in the Air Cargo Market
The highest trade lane growth was recorded between Asia and Europe at 10.3%, followed by Asia-North America at 8%. Airlines continued to benefit from the expanding volumes of e-commerce.
IATA’s data indicates that the air cargo industry experienced record growth in 2024, while forecasts for 2025 suggest more modest expansion compared to previous years.
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