According to data for the month of October released by the International Air Transport Association (IATA), global air cargo markets total demand, measured in cargo tonne-kilometers (CTK), rose by 8.2% compared to November 2023 levels (9.5% for international operations) for a 16th consecutive month of growth.
Capacity, measured in available cargo tonne-kilometers (ACTK), increased by 4.6% compared to November 2023 (6.5% for international operations).
The biggest contributors to the industry’s annual CTK growth were carriers from the Asia Pacific region, followed by those from North America. North American carriers held the second spot for the second consecutive month, replacing European airlines.
Asia Pacific carriers contributed 53%, an increase of 3.7 percentage points from November 2023. North American carriers contributed 22%, an increase of 16.7 percentage points from the previous year, reflecting a stronger economy walking out of the shadow of inflation concerns.
European airlines contributed 14.9%, down 5.7 percentage points, while Middle Eastern carriers contributed 6.2%, experiencing a sharper decline of 15.7 percentage points compared to November 2023.
Source: IATA