Global air freight demand up 4.2% in November 2014
The International Air Transport Association (IATA) reported November 2014 data for global air freight markets showing that demand measured in freight tonne kilometers (FTK) grew 4.2 per cent compared to November 2013. Compared to October 2014, air freight demand expanded by a healthy 0.8 per cent.
The most significant growth was recorded by carriers in the Asia-Pacific and Middle East regions, at 5.9 per cent and 12.9 per cent, respectively. Carriers in these regions captured the vast majority of the global increase (93 per cent). In Asia-Pacific it accounted for 55 per cent of the total year-on-year growth (with a market share of 39.7 per cent), while airlines in the Middle East region contributed a further 38 per cent of growth (with a market share of 13.3 per cent).
An important development emerged at the end of 2014. Air freight is closely linked to world trade (by value about a third of goods traded internationally are shipped by air). A strong growth trend in air cargo cross-border trade emerged over the second half of 2014 which has had a positive impact on air cargo volumes.
“More goods are being traded internationally and that is fuelling the growth in air freight. It was clear in November that most of that growth is being captured by carriers in the dynamic and relatively business-friendly Asia-Pacific and Middle East regions. This year we expect air freight markets to expand by 4.5 per cent outpacing projected growth in world trade (4.0 per cent). But that optimism is tempered by the many macro- economic and political risks that continue to impact trade flows,” said Tony Tyler, Director General and CEO, IATA.
“Shippers have a choice in modes of transport and, like customers everywhere, demand ever greater value. To turn the growth into sustained stronger profitability, the air cargo industry faces the challenge of investing in more efficient and higher quality processes and facilities that will give it the winning edge over its competitors,” said Tyler.