IATA forecasts a rise in cargo carried to 62.5 million tonnes in 2018
The International Air Transport Association (IATA) is the trade association representing approximately 275 commercial airlines worldwide, accounting for more than 83% of total air traffic. The organisation develops global standards and tools, offers financial services and industry solutions, drives transformation projects, creates partnerships, and runs campaigns, advocacy and outreach activities.
In its agenda ‘Cargo Strategy 2018’, IATA discusses air cargo trends and its impact on the global economy.
Air transport is vital for trade, particularly trade in components, which is a major part of cross border trade today. IATA forecasts a rise in cargo carried to 62.5 million tonnes in 2018 (+4.5% on the 59.9 million tonnes in 2017) representing less than 1% of world trade by volume, but over 35% by value. The value of goods carried by airlines is expected to exceed $6.2tn in 2018, representing 7.4% of world GDP.
Air cargo is essential to many facets of modern life. Moving perishable goods from one side of the world to the other would not be possible without air transport. The pharmaceutical industry relies on air transport for its speed and efficiency in transporting high-value, time, and temperature sensitive cargo, particularly vaccines. $13.4bn is spent worldwide on temperature-controlled biopharma logistics. By 2021, it is estimated that this will rise to $16.6bn.
In today’s world, carriage of live animals by air is considered the most humane and expedient method of transport over long distances. Furthermore, most people have personal electronic devices that were built using a global supply chain linked by air.
Amazon, Alibaba, ebay, and other e-commerce companies rely on the express delivery services made possible by aviation to get those devices, and so much more, to their customers. Transport of letters