According to data for the month of October released by the International Air Transport Association (IATA), global air cargo markets are still showing a strong annual growth in demand.
Total demand, measured in cargo tonne-kilometers, rose by 9.8% compared to October 2023 levels (10.3% for international operations) for a 15th consecutive month of growth.
Capacity, measured in available cargo tonne-kilometers, increased by 5.9% compared to October 2023 (7.2% for international operations). This was largely driven by an 8.5% increase in international belly capacity. Dedicated freighter capacity increased by 5.6%, the seventh consecutive month of growth with volumes nearing 2021 peak levels.
Asia-Pacific airlines saw 13.4% year-on-year demand growth for air cargo in October, while North American carriers saw 9.5% year-on-year demand growth. European carriers saw 7.6% year-on-year demand growth and Middle Eastern carriers saw 4.5% year-on-year demand growth. Latin American carriers saw 18.5% year-on-year demand growth and African airlines saw 1.6% year-on-year demand growth.
Source: IATA