Air Cargo Industry Growth Across Global Regions

Air Cargo Trends: July 2024

In July 2024, air cargo demand continued to grow strongly from most global regions. According to WorldACD, four out of the six main regions saw double-digit year-on-year (YoY) increases in cargo tonnage.

While cross-border e-commerce from China and Hong Kong has been a significant factor, the growth is also evident across other major regions and different types of cargo. General cargo, driven by e-commerce, has seen substantial growth, but special cargo categories have also shown solid performance.

Key Regional Growth Stats:

• Middle East & South Asia (MESA): +21% YoY
• Asia Pacific: +17% YoY
• Africa: +14% YoY
• Europe: +11% YoY
• Central & South America: +8% YoY
• North America: +6% YoY
• Global Growth: +13% YoY

For the first seven months of 2024, global air cargo tonnage was up by 12% compared to the same period in 2023, with MESA and Asia Pacific leading with 20% and 19% growth, respectively.

Top Performers in Subregions:

• China, Southeast Asia, and Northeast Asia: Accounted for 56% of global tonnage growth.
• Central Asia: +55% YoY
• Gulf Area: +33% YoY
• Balkan & Southeast Europe: +24% YoY

Airport and Market Highlights:

• Hong Kong: Saw the largest increase in cargo weight, up by 21 million kg in July.
• Bangkok and Shenzhen: Both saw significant percentage increases, with +34% and +37%, respectively.
• Dubai: Had the highest inbound cargo growth, up by 12 million kg (+24%).

Despite some challenges in specific areas, the overall air cargo market continues to experience strong growth across various regions and cargo types.

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