Page 24 - STAT July 2024 for Magzter

regionalreport

EVOLVING AIR CARGO

DYNAMICS IN THE

AMERICAS

Air cargo across the Americas is evolving rapidly, with North America
experiencing a 7% increase and Latin America seeing an 11.7% rise.
Meanwhile, U.S e-commerce is projected to reach $1.39 trillion by 2025.

Parijat Sourabh

he air cargo industry in the Ameri- the Asia-North America trade lane rose of international passenger routes with
cas has undergone significant by 12.0% year-on-year, while the North cargo capacity. This scenario was closer to
transformations in recent years, America-Europe route saw an 8.9% a normal market with balanced demand
Tshaped by global economic shifts, increase, marking the highest demand and capacity, leading to a trend of lower
technological advancements, and changing growth for this route since mid-2022. prices compared to 2020,” says Diogo Elias,
consumer behaviour. From North America May capacity increased by 2.5% year-on- Senior Vice President at Avianca Cargo.
to South America, the air freight sector has year. Latin American carriers saw a 12.7% “Conversely, in the last years in Latin
demonstrated resilience and adaptability in year-on-year growth in air cargo demand America, we are witnessing the export of
the face of challenges while capitalising on in May, with capacity increasing by 8.0% perishable products such as flowers, fish
emerging opportunities. year-on-year. and fruits, which are experiencing a year-
According to the latest data from the “One of the most significant changes on-year growth, even today exceeding
International Air Transport Association occurred in the years following the pre pandemic levels. In the southbound
(IATA) for May 2024, North American car- pandemic, when the demand for air market, ecommerce, except from Asia,
riers experienced an 8.7% year-on-year freight services adjusted while the market has sustained significant growth in recent
growth in air cargo demand in May, the experienced a consistent increase in airline years, leading to higher volumes and
weakest among all regions. Demand on capacity, mainly due to the resumption requiring fast delivery.”
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