Demand for air freight ‘soared by 14.1% worldwide in June’

‍Demand for air freight ‘soared by 14.1% worldwide in June’ 

We have written in the past here at KTL about the various benefits of freight by air as a means of moving goods from one location to another, encompassing the speed, reliability, and security of such transportation, among other factors.

So, it perhaps shouldn’t seem a revelation that the International Air Transport Association (IATA) has disclosed a significant rise in demand for global air cargo services for June 2024. 

According to the latest update from the trade association of the world’s airlines, there was a 14.1% jump in demand in cargo-tonne kilometres (CTKs) compared to the same month a year earlier. The organisation noted that this represented the seventh month in a row of double-digit year-on-year growth. 

Such a hefty rise in demand for air freight services was a welcome fillip for the global air cargo industry during the first half of 2024, when it was saw higher volumes than in 2023, 2022, and the record-breaking 2021. 

“Strong growth across all regions and major trade lanes” 

As is often the case for upticks in performance data for certain forms of cargo transportation, the robust recent demand figures for air freight can be attributed to a combination of factors. 

Willie Walsh, Director General at IATA, acknowledged this much, citing a strong e-tail sector and issues with maritime shipping as driving forces. 

He commented: “Strong growth across all regions and major trade lanes combined for a record-breaking first-half performance in terms of CTKs. Maritime shipping constraints and a booming ecommerce sector are among the strongest growth drivers.” 

Also noted by Mr Walsh, however, was that the sector appeared to still be “largely impervious to ongoing political and economic challenges, and the US customs crackdown on ecommerce deliveries from China.” 

He concluded that air cargo seemed to be on “solid ground” to continue its sterling performance into the final six months of the year. 

What else did we learn from IATA’s data on freight by air? 

It isn’t just demand for air cargo that has been on the up lately, but also capacity; there was an 8.8% increase in available cargo tonne-kilometres (ACTKs) in June 2024, compared to 12 months earlier. 

An even greater rise was observable for international operations, of 10.8%. Such expansion in capacity has been instrumental in accommodating the recent higher demand for air freight services. 

When performance is considered on a region-by-region basis, it is the Asia Pacific region that leads, a 17.0% rise in CTKs having been recorded there on a year-on-year basis. Europe is next in the ranking, with 16.1%, followed by Latin America (13.1%), the Middle East (13.8%), and North America (9.5%). 

Various increases in ACTKs as well as cargo load factors (CLFs) were seen across each region. This underscores that the increases in air cargo activity really do seem to be a global phenomenon, instead of only being powered by advantageous circumstances in specific parts of the world. 

KTL stands ready to help with your logistics requirements 

Our hard-won and long-established knowhow and experience in freight brokerage by sea and air here at KTL places us in a strong position to cater to even the most demanding import and export needs. 

Please feel free to contact us to learn more about how we can assist you as a freight forwarder coordinating shipments across the UK, Europe, and beyond. 

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