Asia to retain air cargo lead

Air cargo markets in Asia* will continueto lead global industry growthto 2025, says Boeing cargo marketregional director Tom Hoang. The USmanufacturer predicts that Chinesedomestic and intra-Asian markets willexpand annually at 10.8 percent and8.6 percent, respectively, comparedwith an expected 6.1 percent globalrate ? sufficient to triple current trafficrates by 2025. Boeing says that the mature Europeanand […]


Air cargo markets in Asia* will continueto lead global industry growthto 2025, says Boeing cargo marketregional director Tom Hoang. The USmanufacturer predicts that Chinesedomestic and intra-Asian markets willexpand annually at 10.8 percent and8.6 percent, respectively, comparedwith an expected 6.1 percent globalrate ? sufficient to triple current trafficrates by 2025.

Boeing says that the mature Europeanand North American** marketswill see slower expansion and lowerthan-average growth. Their only brightspot will be business with Asia, whichwill increase by annual averages of 6.9percent and 7.1 percent, respectively.

Looking at major passenger airlines’cargo revenue as a percentage of alltraffic revenue, Hoang says ten of the12 leading world carriers, including thetop nine, are Asian. Top is EVA Airways(50 percent), followed by China Airlines,Korean Airlines, Asiana, CathayPacific, Singapore Airlines, China Eastern,and Japan Airlines (all above 20percent), Air China (18 percent), andChina Southern (13 percent).

‘For six years Asian economicgrowth has been the (world’s) strongest,’according to Boeing’s new WorldAir Cargo Forecast, despite regionalexpansion falling after 2004. Asia willlead global economies with growthprojected at 3.6 percent/year during2005-25, with the region’s share ofworld gross domestic product increasingby four percentage points to 31percent (while the combined Europeand North America portion will fall fiveand a half points to 55 percent).

Analysing Asia more closely, Hoangdivides the region into three sectors(North America-Asia, Europe-Asia, andintra-Asia); Southwest Asia is consideredseparately.