Global air cargo demand declines

According to the International Air Transport Association’s 2018 global air cargo data, the global air cargo market demand increased by 3.5% year-on-year in 2018, which is significantly lower than the 9.7% growth rate in 2017. The capacity is ton-kilometers in terms of available freight. Growth of 5.4%, exceeding the annual demand growth rate.

IATA said in a related newsletter that the growth in international air cargo demand in 2018 was dragged down by weak demand in December of that year, and the worst performance since March 2016. International air cargo customers’ cargo stocks have increased rapidly, freight traffic has decreased, global economic activities have weakened, global trade has weakened, consumer confidence has weakened and geopolitical resistance has been the reason why international air cargo demand is not strong in 2018 and stalled at the end of the year. However, e-commerce continues to grow in 2018, which will be a positive factor driving the growth of international air cargo.

For the growth prospects of international air cargo in 2019, IATA is cautiously optimistic that global air cargo faces a greater downside risk as global trade tensions continue. IATA Director-General and CEO Juniac said that the global economy maintains the openness of its borders to the flow of people and trade, which is crucial for the growth of global air cargo. In order to meet the needs of customers to further differentiate the air cargo market, the air cargo industry must improve its value proposition. Promoting the realization of digital modern logistics technology and applications will help to expand the contribution of e-commerce to the growth of air cargo, and will also provide reliable and efficient services for the transportation of goods with strict and sensitive time and temperature requirements such as medicines and perishables.