The current state of air cargo market dynamics

In brief

• Asia Pacific and Middle Eastern trade lanes drive year-to-date international air trade growth
  
  
• Low-value air export out of China skyrockets on global markets on year-to-date level
  
  
• All of which is being reflected in Asia Pacific’s strong inbound and outbound air capacity performance

The evolution of air cargo capacity and global trade

The logistics and air cargo industry is highly dynamic, constantly shaped by evolving market conditions, technological advancements, and shifting consumer demands. Global trade patterns, economic fluctuations, and regulatory changes can dramatically alter the landscape, requiring industry players to adapt quickly. The rise of e-commerce, for example, has led to increased demand for faster and more efficient delivery services, while geopolitical events or disruptions in supply chains can necessitate rapid strategic pivots. As a result, industry players must remain agile, leveraging innovation and flexible strategies to navigate these changes and maintain their competitive edge.

Those who can swiftly adapt to new market realities are better positioned to meet customer expectations, optimize operations, and drive long-term success. With our comprehensive, reliable and up-to-date demand and supply databases, our travel industry practice is able to provide insights and data on global air cargo capacity, express and ocean freight demand and capacity on a regular basis.

Note : International air trade only; All flows indicate region-to-region air trade; Regions indicated by color; Air trade excluding low value cross-border e-commerce; Source: Accenture Cargo Global Air Trade database, Accenture analysis (July 2024);

Transatlantic air trade shows a noticeable decline compared to all other major trade lanes

Global Air Trade growth has increased of +3%.

Notes: This analysis does not include Central Asia, Levant & Caucasus and Burma; Source:  Chinese customs data, Accenture Cargo Capacity Tracking database, Accenture Cargo analysis (July 2024);

Low-value air exports out of China surge across global markets in 2024

Significant growth in Chinese low-value exports reflects increasing global demand, with notable surges in Europe, North America and Latin America

Notes: Direct international flights only; Total air cargo capacity includes widebody passenger and all freighter flights; 1) July 8th – August 4th 2024, compared to July 8th – August 4th 2019; Source: Accenture Cargo Capacity Tracking Database, Accenture Cargo analysis (August 2024).

Global international air cargo capacity was up +7% (vs 2019) between July 8th and August 4th in 2024

Asia Pacific continues its strong performance inbound and outbound barring routes into Europe over the last 4 weeks compared to 2019.

Notes: Direct International air cargo capacity only; All freighters and widebody passender aircraft only; 1) August 2024 data up to August 4th ; 2) Comparing the weeks of July 8th – August 4th 2024 to the same weeks in 2019; 3) Comparing the last four weeks available versus the previous four weeks; Q1 drops visible in the graph are linked to Chinese New Year. Source: Accenture Cargo Capacity Tracking Database, Accenture Cargo Analysis (August 2024).

Global international air cargo capacity growth remains stable in the last four weeks

Integrator freighters are driving capacity growth with a +35% increase compared to the same period in 2019.