Global aviation cargo total demand increased by 14.7% year-on-year in terms of freight ton kilometers (international demand increased by 15.5%). Achieved double-digit year-on-year growth for six consecutive months.
According to the scheduled data of the global aviation cargo market in May 2024, demand continues to maintain strong growth. Global aviation cargo total demand increased by 14.7% year-on-year in terms of freight ton kilometers (international demand increased by 15.5%). Achieved double-digit year-on-year growth for six consecutive months. Aviation cargo capacity (available freight ton kilometers) increased by 6.7% year-on-year (international capacity increased by 10.2%).
Willie Walsh, the chairman of the International Air Transport Association, said: "In May, the demand for air cargo increased significantly in all regions, benefiting from the growth of trade, the booming development of e-commerce and the limited capacity of marine transportation. Overall, the prospects for aviation cargo remain optimistic as purchasing managers expect continued growth in demand in the future. However, the stricter scrutiny of e-commerce goods from China by the United States may curb some demand. The increase in transportation costs and time below $800 may discourage some American consumers and pose significant challenges to the growth of the largest Asia-North America tradelink."
Performance of each regional cargo market:
In May, the demand for aviation cargo of Asia-Pacific airlines increased by 17.8% year-on-year. The Africa-Asia tradelink increased by 40.6% year-on-year, and the Europe-Asia, Asia inland and Middle East-Asia tradelinks increased by 20.4%, 19.2% and 18.6% respectively. Capacity increased by 8.4% year-on-year.
In May, the demand for aviation cargo of European airlines increased by 17.2% year-on-year. Compared with May 2023, the demand for European inland aviation cargo increased by 25.6% year-on-year, achieving double-digit annual growth for five consecutive months. The Europe-Middle East route increased by 33.8%. Capacity increased by 11.9% year-on-year.
In May, the demand for aviation cargo of Middle East airlines increased by 15.3% year-on-year. As mentioned above, the Middle East-Europe market performed particularly well, with an annual growth rate of 33.8%, ahead of the Middle East-Asia market (demand increased by 18.6% year-on-year). Capacity increased by 2.7% year-on-year.
In May, the demand for aviation cargo of North American airlines increased by 8.7% year-on-year, which was the weakest performance among all regions. The Asia-North America tradelink increased by 12.0% year-on-year, and the North America-Europe route increased by 8.9%, which was the largest increase in this route since mid-2022. Capacity increased by 2.5% year-on-year.
In May, the demand for aviation cargo of Latin American airlines increased by 12.7% year-on-year. Capacity increased by 8.0% year-on-year.
In May, the demand for aviation cargo of African airlines increased by 18.4% year-on-year, which was the highest increase among all regions. Compared with May 2023, the demand for the Africa-Asia market increased by 40.6% year-on-year, the highest among all tradelinks. Capacity increased by 21.4% year-on-year.