Africa-Asia air cargo demand in August 2024 surged by 21%, fueling a 7.5% rise for African airlines and playing a key role in the global air cargo demand growth of 11.4%.
This strong growth highlights the robust trade flows between the two regions, reflecting a notable shift in global cargo traffic patterns.
This statistic was obtained from the International Air Transport Association (IATA) released data for August 2024 global air cargo markets which showed continued growth in demand across various regions.
“African airlines saw 7.5% year-on-year demand growth for air cargo in August. Demand on the Africa–Asia market increased by 21.1% compared to August 2023, maintaining a streak of double-digit annual growth that originated in the second half of 2023,” the report read in part.
The IATA report indicated that the rising air cargo demand is largely driven by booming e-commerce, ongoing capacity constraints in maritime shipping, and Africa’s increasing trade with Asia.
In addition to rising demand, capacity across international air cargo operations also saw an increase, with a global rise of 6.2% and 11.4% for African airlines, reflecting the region’s expanding ability to handle higher cargo volumes.
The growth in belly capacity, particularly from increased passenger traffic, played a role in boosting overall cargo capacity.
More insight
The IATA report highlighted the performance of different regions in the global air cargo market, revealing key trends and growth patterns.
- Asia-Pacific airlines led the global cargo market, registering a significant 14.6% increase in year-on-year demand, underpinned by an 8.6% growth in capacity, a testament to the region’s robust logistics and trade networks.
- European carriers followed closely, experiencing a solid 13.5% growth in demand, supported by a remarkable 28.9% surge in the Middle East–Europe trade lane, alongside a 9.4% capacity increase.
- In contrast, North American airlines recorded the lowest growth rate at 4.8%, though demand on the Asia-North America trade lane saw a notable 9.3% rise. The region’s capacity increased modestly by 2.4%.
- Latin American carriers also performed well, with a 14.2% rise in demand paired with an 8.0% growth in capacity, reflecting a strong regional trade performance.
- Meanwhile, Middle Eastern airlines matched Europe’s demand growth at 13.5%, supported by a 4.0% capacity increase, further showcasing the region’s critical role as a hub for global trade routes.
These performance indicators, encompassing both demand and capacity, reflect the strong recovery of air cargo markets worldwide, driven by expanding capacity and the strategic importance of key trade routes across various regions.