WorldACD data reveals a 13% increase in general cargo volumes compared to special products like perishables, dangerous goods, high tech, and pharma, which grew 10% from January to May this year. Strong growth in cross-border e-commerce traffic which often flies in bulk as general cargo, and freight conversions from ocean freight to air cargo and sea-air due to disruptions in container shipping, have boosted general cargo growth faster than for special products.
Overall, the air cargo market has increased by 12% year-over-year. Asia-Pacific and Middle East & South Asia saw the biggest growth in chargeable weight in the five months to May 2024. On average, special cargo made up 35% of the total market with variations across regions.
According to WorldACD, Hong Kong was the fastest-growing origin, followed by Southeast China, East China, India, and UAE. The data also showed that market shares for the largest forwarders remained stable at 25% in May, compared with 26% a year ago. Freighter volumes rose 6%, while cargo carried by passenger operators and mixed fleets registered a 13% increase.
Source: Air Cargo News
