Asia Pacific origin markets are continuing to contribute an outsize share of worldwide air cargo growth this year, generating more than half (56 percent) of the global +12 percent year-on-year (YoY) increase in tonnages in the first 10 months of 2024, according to analysis by WorldACD Market Data.
“The region’s strong contribution this year means Asia Pacific’s share of worldwide outbound tonnages overall has risen two percentage points to 41 percent from 39 percent last year, well ahead of Europe on 24 percent, Central & South America on 14 percent, Middle East & South Asia (MESA) with nine percent and North America’s eight percent market share. Africa’s share of both outbound and inbound air cargo traffic remained stable at four percent, based on the more than two million monthly transactions covered by WorldACD’s database,” says an official release.
Europe came in as the second origin region accounting for 17 percent of global tonnage growth in 2024, the update added. “The buoyant MESA region contributed 14 percent of outbound tonnage growth this year, despite its smaller nine percent share of global volumes, bolstered by traffic shifting to air this year due to continuing disruptions to the region’s ocean freight markets.”