Africa-Asia Air Cargo Demand Soars by 21% in August
In August 2024, air cargo demand between Africa and Asia surged by 21%, significantly contributing to a 7.5% rise for African airlines and driving global air cargo demand growth to 11.4%.
Phot Source: AviTrader
The uptick in demand underscores robust trade flows between Africa and Asia, highlighting an important shift in global cargo traffic dynamics. The International Air Transport Association (IATA) reported that the sustained demand growth has continued since the latter half of 2023, fueled by booming e-commerce, ongoing capacity challenges in maritime shipping, and Africa’s expanding trade relationships with Asian markets.
Alongside rising demand, international air cargo capacity also increased, with global operations witnessing a 6.2% rise and African airlines seeing an 11.4% boost in capacity. This growth in belly capacity, driven by a resurgence in passenger traffic, has played a crucial role in enabling airlines to handle increased cargo volumes.
The IATA report further analyzed various regions within the global air cargo market, revealing critical trends in demand and capacity. Asia-Pacific airlines led the market with a striking 14.6% year-on-year demand growth, supported by an 8.6% rise in capacity, showcasing the region’s strong logistics and trade networks.
European carriers followed closely behind, reporting a solid 13.5% increase in demand, bolstered by a remarkable 28.9% surge in the Middle East–Europe trade lane and a 9.4% capacity rise. Conversely, North American airlines had the lowest growth rate at 4.8%, although demand in the Asia-North America trade lane rose by 9.3%, with a modest 2.4% capacity increase.
Latin American carriers also performed strongly, with a 14.2% demand rise and an 8.0% capacity increase, reflecting solid regional trade dynamics. Meanwhile, Middle Eastern airlines matched Europe’s demand growth at 13.5%, aided by a 4.0% capacity rise, emphasizing the region’s vital role as a hub for global trade routes.
These indicators of demand and capacity illustrate the ongoing recovery of air cargo markets worldwide, propelled by increased capacity and the strategic significance of key trade routes across regions.
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