(Telestock) – Air cargo continues to grow: IATA, the International Air Transport Association, has released global market data for May 2024, which shows continued strong annual growth in demand. Total demand, measured in cargo tonne-kilometres (CTK), increased 14.7% from May 2023 levels (15.5% for international operations). This is the sixth consecutive month of double-digit growth year-on-year. Capacity, measured in available cargo tonne-kilometres (ACTK), increased 6.7% from May 2023 levels (10.2% for international operations).
“The demand for air cargo transport – he has declared Willie Walsh, IATA Director General – recorded a strong increase in May across all regions. The sector benefited from trade growth, the e-commerce boom and capacity constraints in maritime transport. The outlook remains broadly positive, with purchasing managers expecting future growth. However, some mitigation could come with the US imposing stricter conditions on e-commerce deliveries from China. Rising costs and transit times for shipments under $800 – he concluded – could discourage US consumers and pose a significant challenge to the growth of the Asia-North America trade lane, the world’s largest”.