Air cargo surge by 3.7%
Industry trends predict an upswing for the air cargo industry, worldwide. Increased world-trade activities and economic recovery would lead to airfreight growth.
Worldscheduled airfreight traffic, measured in freight tonne kilometers, is expected to grow by 3.7 percent in 2014, according to the International Civil Aviation Organization (ICAO).
Airfreight traffic grew by 4.2 percent in 2015 and 4.4 percent in 2016.
World trade in real terms, measured by exports and imports volumes, will grow by 4.2 percent in 2014, up from the 2.2 percent in 2013, according to IHS Global Insight, a financial analysis company.
The Middle East is expected to remain the fastest growing region in 2014, with an estimated growth rate of 12.1 percent. The Asia-Pacific region, which accounted for almost 40 percent of world freight traffic in 2013, is expected to grow by 3 percent in 2014. With the improvement of the European and U.S. economies, rising demand for Asia-Pacific manufactured goods should support export volume increases and airfreight growth. Expectations of annual world trade growth rates of 5.3 and 5.1 percent over 2015 and 2016 should support world airfreight traffic growth rates of 4.2 and 4.4 percent, respectively.
ICAO projects accelerating air-freight growth