(31/07/24) IATA’s world air cargo market information for June 2024 reveals continued progress in demand, contributing to an distinctive first half-year efficiency with volumes exceeding 2023, 2022 and even the record-breaking numbers of 2021.
Complete demand, measured in cargo tonne-kilometers (CTK), rose by 14.1% and 15.6% for worldwide operations, in comparison with June 2023 ranges, the seventh consecutive month of double-digit year-on-year progress.
Capability, measured in out there cargo tonne-kilometers (ACTK), elevated by 8.8% total and 10.8% for worldwide operations, in comparison with June 2023.
Complete H1 demand elevated by 13.4% in comparison with H1 2023, by 4.3% in comparison with H1 2022, and by 0.02% in comparison with H1 2021.
IATA highlights a number of elements that must be famous:
UPS Boeing 747 Freighter coming in to land at Hong Kong Airport (HKG). Image by Steven Howard of TravelNewsAsia.com
– In June, the Buying Managers Index (PMI) for world manufacturing output indicated enlargement at 52.3 whereas the new export orders PMI registered a small contraction, falling under the crucial 50-point benchmark to 49.3;
– International cross-border commerce expanded 0.1% month-on-month in Might whereas industrial manufacturing stayed stage in comparison with the earlier month; and
– Inflation was a combined image in June. Within the EU and Japan, inflation charges stayed roughly fixed in comparison with the earlier month at 2.6% and a pair of.8% respectively, while dropping in the US to three%. In distinction, China’s inflation charge remained close to zero (0.3%) reflecting weak home demand amid excessive unemployment, sluggish earnings progress, and issues in the actual property sector, a pattern that has persevered since 2023.
“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 e-commerce sector are among the strongest growth drivers,” stated Willie Walsh, IATA’s Director Normal. “Meanwhile, the sector has remained largely impervious to ongoing political and economic challenges, and the US customs crackdown on e-commerce deliveries from China. Air cargo looks to be on solid ground to continue its strong performance into the second half of 2024.”
Asia-Pacific airways noticed 17% year-on-year demand progress for air cargo in June, the strongest amongst all areas. Demand on the Africa-Asia commerce lane grew by 37.5% y-o-y, while the Europe-Asia, inside Asia and Center East-Asia commerce lanes rose by 20.3%, 21% and 15.1% respectively. Capability elevated by 10.7% y-o-y.
North American carriers reported y-o-y demand progress of 9.5%, the weakest amongst all areas. Demand on the North America-Europe route noticed a rise of 6.7%, while the Asia-North America commerce lane, the world’s largest, grew by 12.8% y-o-y, the most important annual enhance in 5 months. June capability elevated by 6% y-o-y.
European carriers loved 16.1% y-o-y demand progress. Intra-European air cargo rose by 16.7% in comparison with June 2023, the sixth month in a row of double-digit annual progress. Europe–Center East and Europe–Asia routes noticed demand enhance by 30.2% and 20.3% respectively. June capability elevated 9.1% y-o-y.
Center Jap carriers reported y-o-y demand progress of 13.8%. The Center East–Europe market carried out significantly nicely with 30.2% annual progress, forward of Center East–Asia which grew by 15.1% y-o-y. June capability elevated 6.9% y-o-y.
Latin American carriers noticed 13.1% y-o-y demand progress and capability elevated 15.5% y-o-y. Notably, Latin America posted the second-highest enhance in worldwide demand progress at 17.2% in June, up 6.3 share factors in comparison with the earlier month.
African airways reported a median 11.8% y-o-y demand progress in the course of the month. Demand on the Africa–Asia market elevated by 37.5% in comparison with June 2023, the strongest efficiency of all commerce lanes. June capability elevated by 23.8% y-o-y.
