African Air Cargo Soars: Demand Up 8.5% in 2024, Outpacing Global Trends
Air cargo demand in Africa experienced robust growth in 2024, increasing by 8.5% compared to the previous year, according to the International Air Transport Association (IATA). This performance highlights the continent's growing role in the global air freight market, presenting both opportunities and challenges for African travel agents and logistics providers. This insight is crucial for planning future strategies and understanding market dynamics.
IATA's full-year analysis of the air cargo sector revealed that global demand, measured in Cargo Tonne-Kilometers (CTK), surged by 11.3% in 2024, exceeding even the record volumes set in 2021. This growth was driven by strong performance in international operations, especially in the e-commerce sector, and exacerbated by ocean shipping restrictions. This global trend affects African travel agents as they navigate the interconnected logistics landscape and strive to meet increasing customer demands.
Globally, capacity in 2024, measured in available Cargo Tonne-Kilometers (ACTK), increased by 7.4%. While yields averaged 1.6% lower than in 2023, they remained significantly higher (39%) than in 2019. This indicates that airlines are moving more goods, albeit with slight pricing adjustments. African airlines need to strategically manage capacity and pricing to capitalize on the growth while staying competitive.
Willie Walsh, IATA’s Director-General, emphasized that air cargo was the standout performer in 2024. Demand was boosted by e-commerce and ocean shipping restrictions, combined with airspace limitations on key long-haul routes to Asia. He highlighted that average yields, while softening from peak levels, were still significantly higher than in 2019, indicating a profitable year for the sector. For African travel professionals, understanding these dynamics is essential for effective route planning and cost management.
Despite the positive overall performance, several factors in the operating environment pose challenges. Manufacturing output and new export orders, as indicated by the Purchasing Managers Index (PMI), remained below the critical threshold. Additionally, consumer inflation in the United States and the European Union increased slightly, while China's consumer inflation continued to decline. These factors suggest a potential slowdown in global economic activity, which African travel agents should monitor closely to adapt their strategies accordingly.
