Cargo forecast good, says IATA
25 / 02 / 2015
THE International Air Transport Association (IATA) five-year forecast confirms others’ predictions of reasonable future air cargo growth.
IATA suggests international freight volumes are expected to increase at a compound annual growth rate (CAGR) of 4.1 percent over the next five years. Emerging economies, particularly in the Middle East and Africa, will be the fastest-growing markets.
“Air cargo remains as vital to the global economic system as ever,” said Tony Tyler, IATA’s director general. “So it is welcome to see a forecast for a return to growth after several years in the doldrums. An average of more than four percent growth for the next five years would be a marked improvement on the performance of recent years, [which] has averaged just 0.63 percent per year.”
The US, China and the UAE will each be adding more than 1 million additional tonnes of freight by 2018, with the UAE replacing Germany as the third largest market.