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Global air cargo demand stayed strong in late 2024 fueled by e-commerce, according to the latest Air Freight Market Update from DHL Global Forwarding
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High rates, however, still persist due to the supply-demand imbalance
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Worldwide air cargo capacity rose 6% in January year-on-year, with the Latin America route leading growth
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E-commerce remains a key driver of air cargo capacity utilization, with high load factors projected for 2025
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Despite US tariff threats and stricter cargo scrutiny, Asia’s booming e-commerce growth is seen to continue this year
Global air cargo demand stayed strong in late 2024 driven by driven by Asia Pacific (AP) and AMNO (North America) carriers and fueled by e-commerce, according to the latest Air Freight Market Update from DHL Global Forwarding.
High rates, however, still persist due to the present supply-demand imbalance.
Air cargo demand from AP softened at the start of this year, but is steadily rebounding as shippers rush deliveries ahead of the Lunar New Year, the update said.
Worldwide air cargo capacity, meanwhile, rose 6% in January year-on-year, with the AP-AMLA (Latin America) route leading growth.
E-commerce remains a key driver of air cargo capacity utilization, with high load factors projected for 2025.
Regionally, Europe’s main hubs reported higher air cargo volumes last year, with Vienna setting a record growth of 22%.
The EU’s inbound volume remained strong last year, with AP-EU (Europe) trade up by 20% year-on-year compared to 2023.
Despite US tariff threats and stricter cargo scrutiny, Asia’s booming e-commerce growth is seen to continue this year.
The only downside is the lack of capacity additions causing pressure on cargo supply and demand.
Air cargo rates and demand from the Middle East and Africa is seen to remain high, as the Gaza ceasefire has not altered the Red Sea shipping threat assessment.
Exports from the Middle East stayed strong in late 2024, with airfreight rates staying elevated due to ongoing sea-air cargo demand.
Air trade from North America to Europe fell by 4% in the Jan-Nov 2024 period compared to 2023. This was driven by a drop in US exports of industrial materials and machinery parts.
The growth of indirect freight capacity into Mexico from Anchorage, Alaska emphasized the US’s key role in nearshoring strategies, according to the market update.
