International air freight volumes are expected to grow 17 per cent during 2013-2017, expanding at a five-year 3.2 per cent compound annual growth rate (CAGR), according to IATA’s Airline Industry Forecast for 2013-17. The figures are a “conservative estimate of the recovery in global economic activity and world trade volumes in the coming years,” IATA said.
According to IATA, 31 per cent of the total air cargo tonnage growth will come from within the Asia-Pacific region. China is expected to add over one million additional cargo tons by 2017, matching the US’s predicted volume increase for the same period. IATA forecasts the largest international freight markets by 2017 will be the US, China, Germany, Hong Kong and the United Arab Emirates.
Further predictions include that by 2017, routes within Asia-Pacific will maintain the largest freight traffic market share (26.2 per cent), followed by Europe to Asia-Pacific routes (11.8 per cent) and North and Mid-Pacific routes (10.2 per cent).
The fastest regional growth is forecast to occur in Africa, with four per centCAGR. The Middle East and Latin America will each see 3.8 per cent CAGR; Asia-Pacific will be at 3.5 per cent CAGR, followed by Europe (2.4 per cent CAGR) and North America (2.7 CAGR), according to IATA.