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Home News 2024 global air cargo demand up 11.3% YoY; 12.2% for international ops

2024 global air cargo demand up 11.3% YoY; 12.2% for international ops

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2024 global air cargo demand up 11.3% YoY; 12.2% for international ops

Global air cargo demand for 2024, measured in cargo tonne-kilometers (CTK), increased by 11.3 per cent (12.2 per cent for international operations) compared to 2023, according to the International Air Transport Association (IATA). This figure exceeded the record volume set in 2021.

Full-year capacity in 2024, measured in available cargo tonne-kilometers (ACTK), increased by 7.4 per cent compared to 2023 (9.6 per cent for international operations).

Global air cargo demand for 2024, measured in cargo tonne-kilometers, rose by 11.3 per cent (12.2 per cent for international operations) compared to 2023, according to the International Air Transport Association.
This figure exceeded the record volume set in 2021.
Full-year capacity in 2024 increased by 7.4 per cent compared to 2023; it was up by 9.6 per cent for international operations.

Full-year 2024 yields averaged 1.6 per cent lower than 2023, but 39 per cent higher than the 2019 figures.

December 2024 brought the year to a close with continued strong performance. Global demand was 6.1 per cent up year on year (YoY); it was 7 per cent up YoY for international operations. Global capacity was 3.7 per cent higher YoY; it was 5.2 per cent up YoY for international operations.

Cargo yields in December last year were 6.6 per cent higher YoY; these were 53.4 per cent higher YoY than in December 2019.

IATA estimates growth to moderate to 5.8 per cent this year, aligned with historical performance.

“Economic fundamentals point to another good year for air cargo—with oil prices on a downward trajectory and trade continuing to grow. There is no doubt, however, that the 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 whammy for air cargo—boosting inflation and deflating trade,” said IATA director general Willie Walsh in a release.

Asia-Pacific airlines saw a 14.5-per cent YoY demand growth for air cargo last year—the strongest among the regions. Capacity increased by 11.3 per cent YoY. December 2024 YoY demand increased by 8.4 per cent and capacity increased by 6.3 per cent YoY.

North American carriers saw a 6.6-per cent YoY demand growth for air cargo in 2024—the lowest of all regions. Capacity increased by 3.4 per cent YoY. December YoY demand increased by 5.3 per cent and capacity increased 2.1 per cent YoY.

European carriers saw a 11.2-per cent YoY demand growth for air cargo last year. Capacity increased by 7.8 per cent YoY. December YoY demand increased by 5.1 per cent and capacity increased by 3.7 per cent YoY.

Middle Eastern carriers saw a 13-per cent YoY demand growth for air cargo last year. Capacity increased by 5.5 per cent YoY. December YoY demand increased by 3.3 per cent and capacity increased by 0.2 per cent YoY.

Latin American carriers saw a 12.6-per cent YoY demand growth in the year. Capacity increased by 7.9 per cent YoY. December YoY demand increased by 10.9 per cent—the highest of all regions, and capacity increased by 8.4 per cent YoY.

African airlines saw a 8.5-per cent YoY demand growth in 2024. Capacity increased by 13.6 per cent YoY. December YoY demand decreased by 0.9 per cent—the lowest of all regions, and capacity increased by 1.8 per cent YoY.

International routes witnessed exceptional traffic levels for the 17th consecutive month in December, with a 7-per cent YoY increase in December. Airlines are benefiting from rising e-commerce demand in the United States and Europe amid ongoing capacity limits in ocean shipping, IATA added.

Fibre2Fashion News Desk (DS)