African airlines recorded a 1.6% year-on-year growth in air cargo demand for October 2024, the slowest among all regions, while capacity increased by 7.7%.
This indicates that although African carriers are expanding their cargo capacity, demand for air cargo in the region has not kept pace, suggesting challenges in fully utilizing the available capacity.
The International Air Transport Association (IATA) released data showing that despite the capacity increase, the growth in demand remains relatively subdued in Africa compared to other regions globally.
IATA reported, “African airlines saw 1.6% year-on-year demand growth for air cargo in October, the slowest among regions. Capacity increased by 7.7% year-on-year.”
This slower demand growth in Africa contrasts with the global trend, where air cargo markets have seen strong performance. While African airlines are enhancing their infrastructure, they are facing hurdles in aligning this capacity with demand.
More insight
Globally, the air cargo market continued to show strong growth in October 2024, with demand rising by 9.8% year-on-year. This marks the 15th consecutive month of growth.
Capacity also saw an increase of 5.9%, driven in large part by a substantial 8.5% rise in international belly capacity. While the African region’s growth was comparatively slower, other regions experienced more robust performance.
- Airlines in Asia-Pacific saw the strongest demand growth, with a 13.4% increase in cargo demand, while capacity expanded by 9.3%.
- Latin American airlines also posted impressive numbers, with demand surging by 18.5%, the highest growth rate among all regions, and capacity increasing by 5.8%.
- North American carriers experienced a 9.5% rise in demand, and their capacity grew by 5.8%.
- European carriers saw a 7.6% increase in demand, with capacity up by 3.9%. In the Middle East, demand grew by 4.5%, but capacity only increased by 0.8%.
- While global air cargo markets as a whole are thriving, with significant growth in demand and capacity, Africa’s slower pace of growth highlights regional challenges in matching cargo demand with capacity.
IATA’s Director General, Willie Walsh, acknowledged that while 2024 is shaping up to be a strong year for air cargo, caution is advised for 2025.
He noted that the incoming Trump Administration’s potential decision to impose significant tariffs on its top trading partners—Canada, China, and Mexico—could disrupt global supply chains and negatively impact consumer confidence.
Walsh noted that the air cargo industry’s adaptability to shifting geopolitical and economic conditions would be tested in the coming years, suggesting that the positive momentum in the industry might face challenges from these external factors.
