Data for the global air cargo markets for July 2024 has been made public by the International Air Transport Association (IATA), and it continues to demonstrate strong annual demand growth.
Comparing July 2023 to July 2024, the total demand, expressed in cargo tonne-kilometers (CTKs), climbed by 13.6% (or 14.3% for international traffic). Eight months running of double-digit year-over-year growth have now occurred, with total levels hitting heights not seen since the record highs of 2021.
Available capacity tonne-kilometers (ACTKs), a measure of capacity, rose 8.3% annually (or 10.1% for overseas operations). The main cause of this was the rise in international belly capacity, which balanced the 6.9 percent increase in international freighter capacity by rising 12.8 percent on the strength of passenger markets. Belly capacity growth is at its lowest point in forty months, while freighter capacity growth is at its highest point since a remarkable spike in January 2024.
Air cargo demand hit record highs year-to-date in July with strong growth across all regions,” stated Willie Walsh, Director General of IATA. The expansion of international trade, the rise of e-commerce, and the limitations on maritime shipping capacity all continue to be advantageous to the air cargo industry.
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