According to the International Air Transport Association (IATA) air cargo set for a positive 2024.<\/p>\n
All regions are expected to experience air cargo growth in 2024, according to IATA. The Middle East is set for the biggest rise at 12.3% while Africa will see a more modest 1.5% growth. On average, air cargo is forecast to grow 4.5%.<\/p>\n
“Yields will likely decline in 2024 but they will still be above their 2019 levels,” says Rachel Yuting Fan, IATA Sustainability and Economics. “Cargo revenue will also be about 11% above 2019 and comprise 12% of total industry revenue. In other words, 2024 will see sustained revenue growth and the sector outperform pre-pandemic levels.”<\/p>\n
The relevant economic markers are also positive with 3.5% growth in global trade projected for 2024. Broadly, belly capacity is back and will carry the majority of air cargo. Dedicated freighters will maintain their usual share of the market.<\/p>\n
Other beneficial factors include the continued growth of e-commerce, the reduction in delivery times, and the robust performance of high-value specialized products, such as pharmaceuticals, which seem resilient to the industry’s usual volatility.<\/p>\n
Possible downsides include China’s supply chain and currency fluctuations.<\/p>\n
Source: IATA<\/p>\n","protected":false},"excerpt":{"rendered":"
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