Statistics play a crucial role in understanding and analyzing trends within industries, and the air cargo industry is no exception. In this blog post, we will delve into the latest statistics and trends shaping the air cargo industry, providing valuable insights into the dynamics of this vital sector. Join us as we explore key metrics, growth projections, and challenges faced by the air cargo industry in today’s global marketplace.
The Latest Air Cargo Industry Statistics Explained
The global air cargo market size was valued at USD 101.67 billion in 2019.
The statistic ‘The global air cargo market size was valued at USD 101.67 billion in 2019’ represents the total monetary value of goods transported by air freight services worldwide in the specified year. This figure indicates the scale and importance of the air cargo industry in facilitating the movement of goods across international borders efficiently and swiftly. The value reflects the significant economic activity generated by the transportation of products via air, highlighting the reliance of businesses on air cargo services for timely deliveries and supply chain management. This statistic serves as a key indicator for assessing the overall health and growth potential of the global air cargo market and its impact on global trade and commerce.
The demand for air cargo, measured in metric tonne kilometers (CTKs), fell by 21.8% in April 2020 compared to the previous year due to COVID-19.
The statistic indicates that the demand for air cargo, as measured by the total weight of goods transported over the distance flown (in metric tonne kilometers), experienced a significant decline of 21.8% in April 2020 as compared to April of the previous year. This sharp decrease is attributed to the impact of the COVID-19 pandemic, which disrupted global trade and air travel during this period. The reduction in air cargo demand reflects the broader economic implications of the pandemic, including supply chain disruptions, reduced consumer spending, and a decrease in commercial activities. The magnitude of this decline highlights the substantial impact that COVID-19 had on the aviation industry and global trade dynamics in the given timeframe.
In 2019, the global airlines had moved over 52 million metric tons of goods.
The statistic indicating that global airlines moved over 52 million metric tons of goods in 2019 highlights the substantial role that the airline industry plays in the transportation of goods across the world. This vast quantity of goods being transported by air signifies the importance of air cargo for global trade and supply chains. The volume of goods moved by airlines serves as a testament to the efficiency and speed of air freight services, allowing businesses to transport high-value, time-sensitive, and perishable goods quickly and reliably. Furthermore, the statistic underscores the significant impact that airlines have on facilitating global commerce and connectivity, supporting various industries and economies worldwide.
The global air cargo traffic is projected to more than double and reach 230.5 billion revenue ton kilometers (RTK) by the year 2040.
The statistic indicating a projection of global air cargo traffic more than doubling by the year 2040 to reach 230.5 billion revenue ton kilometers (RTK) suggests a significant anticipated growth in the movement of goods via air transportation over the next couple of decades. This forecasted increase reflects the expanding global economy and the continued reliance on air freight services for swift and efficient delivery of goods across long distances. Factors such as increasing international trade, e-commerce growth, and advancements in logistics and technology are likely to drive this substantial rise in air cargo traffic volume. As a key indicator of economic activity and trade patterns, this projection highlights the importance of the air cargo industry in facilitating global commerce and meeting the evolving demands of businesses and consumers worldwide.
Approximately one-third of the goods traded globally, by value, are shipped by air.
The statistic that approximately one-third of the goods traded globally, by value, are shipped by air indicates the significant role that air cargo transportation plays in the global economy. While air transportation accounts for a relatively small portion of total cargo volume, its high value goods contribute substantially to international trade. Air shipping is favored for perishable goods, high-value products, and time-sensitive items due to its speed and efficiency. The statistic highlights the importance of air freight in facilitating global trade and supply chain logistics, particularly in industries where quick delivery is paramount. Despite its relatively higher cost compared to other modes of transportation such as sea or land, the value and timeliness of air shipping make it a valuable component of the global trading system.
In 2021, FedEx Express had the largest freight volume with 19.32 billion freight ton kilometers.
The statistic states that in 2021, FedEx Express led the industry in terms of freight volume with a total of 19.32 billion freight ton kilometers. This measure represents the total distance traveled by all the freight that FedEx Express transported during the year, taking into account both the weight and the distance covered. This indicates the significant scale and reach of FedEx Express’s operations in moving goods across various distances. By comparing this statistic with those of other freight carriers, analysts can gain insights into the company’s market position, operational efficiency, and overall performance in the transportation industry.
In 2020, the cargo revenue of airlines worldwide was estimated at 138.5 billion U.S. dollars.
The statistic stating that the cargo revenue of airlines worldwide was estimated at 138.5 billion U.S. dollars in 2020 provides insight into the financial performance of the global airline industry concerning the transportation of goods. This figure represents the total amount generated by airlines from transporting cargo such as packages, goods, and freight across domestic and international routes throughout the year. The cargo revenue is a significant component of airlines’ total revenue streams, alongside passenger revenue, and serves as an indicator of the demand for air freight services worldwide. The 2020 estimate of 138.5 billion U.S. dollars highlights the economic importance of air cargo operations within the aviation sector and underscores the role of airlines in facilitating global trade and supply chain logistics.
In 2018, the United States air cargo industry makes up for 40% of world air trade by value.
The statistic indicates that in 2018, the United States air cargo industry accounted for 40% of the total value of air trade globally. This implies that a significant portion of goods transported by air across the world either originated from or were destined for the United States. This highlights the dominance and importance of the U.S. air cargo industry in facilitating international trade and commerce. Such a high percentage suggests that the United States plays a key role in the movement of high-value goods by air, underscoring its influence on the global economy and trade networks.
The Middle Eastern airlines posted the fastest growth of any region in 2019, up 2.4% compared to the year before.
The statistic indicates that Middle Eastern airlines experienced the highest rate of growth among all regions in 2019, with a 2.4% increase compared to the previous year. This growth suggests that the airline industry in the Middle East expanded at a faster pace than in other regions during that period. Factors contributing to this growth could include increased demand for air travel in the region, strategic business decisions by Middle Eastern airlines, or favorable economic conditions. Analyzing the reasons behind this growth can provide valuable insights into the aviation industry’s performance in the Middle East and potential opportunities for further development in the future.
The highest density cargo route is the Asia-North America route with 5.7 million tons of cargo in 2019.
This statistic indicates that the Asia-North America route had the highest concentration or volume of cargo transported in 2019 compared to other cargo routes. With 5.7 million tons of cargo being shipped on this route, it highlights the significant trade and transportation activities between Asia and North America during that year. The high density of cargo on this route suggests strong economic ties and a demand for goods to be transported efficiently and in large quantities between these two regions. This statistic can be used to analyze trade patterns, transportation infrastructure needs, and economic relationships between Asia and North America.
Hong Kong was the busiest air cargo airport in 2020, with almost 4.47 million tons of cargo handled.
The statistic that Hong Kong was the busiest air cargo airport in 2020, with almost 4.47 million tons of cargo handled, indicates the significant role that Hong Kong plays in the global air freight industry. With its strategic location and well-developed infrastructure, Hong Kong serves as a key hub for transporting goods between Asia and the rest of the world. The high volume of cargo handled at Hong Kong International Airport highlights its importance as a major center for trade and commerce, facilitating the movement of goods across borders and contributing to the global economy.
Africa had the smallest air cargo market share in 2019, constituting less than 2% of the total freight tonne km
The statistic indicates that Africa had the lowest proportion of the global air cargo market share in 2019, accounting for less than 2% of the total freight tonne kilometers. This suggests that air cargo movements in Africa were relatively minimal compared to other regions around the world during that year. Factors such as infrastructure limitations, high operational costs, and trade barriers may have contributed to the low market share of air cargo in Africa. This statistic highlights an opportunity for growth and development in the air cargo industry in Africa, potentially through improved infrastructure, increased investment, and enhanced trade partnerships to boost the region’s participation in the global market.
Europe had an air cargo growth rate of 3.7% year-on-year in December 2020.
The statistic that Europe had an air cargo growth rate of 3.7% year-on-year in December 2020 indicates that the volume of air freight being transported in Europe increased by 3.7% compared to the same period in the previous year. This growth rate suggests that there was a positive trend in the demand for air cargo services during that time, potentially driven by factors such as increased e-commerce activity, the need for medical supplies, or other economic activities. The statistic serves as a key indicator of the health and performance of the air cargo industry in Europe, highlighting the region’s ability to adapt and respond to changing market dynamics.
In 2020, the total cargo capacity for airlines worldwide decreased by 24.6% due to the pandemic.
The statistic indicates that in the year 2020, the total cargo capacity of airlines worldwide experienced a significant decrease of 24.6% as a result of the COVID-19 pandemic. This reduction in capacity can be attributed to various factors such as global travel restrictions, lockdowns, and economic downturns leading to reduced demand for air cargo services. The pandemic disrupted supply chains and forced airlines to cut back on routes and flights, impacting their overall cargo capacity. This decrease in cargo capacity highlights the profound impact that the pandemic had on the aviation industry and its ability to transport goods across the globe efficiently.
Hong Kong International Airport handled 4.47 million tonnes of cargo in 2020 which is the highest among all airports.
The statistic that Hong Kong International Airport handled 4.47 million tonnes of cargo in 2020 as the highest among all airports reflects the airport’s significant position as a key global hub for air freight. The large volume of cargo handled at the airport underscores its role in facilitating international trade and logistics, serving as a crucial gateway connecting regions across the world. This statistic also highlights Hong Kong’s strategic geographical location, efficient infrastructure, and advanced logistics capabilities, making it an attractive choice for cargo operators and airlines. Additionally, the high volume of cargo handled indicates strong demand for air freight services, particularly in light of the challenges posed by the global pandemic in 2020, demonstrating the airport’s resilience and adaptability in serving the needs of the global supply chain.
By 2023, it is expected that the United States air cargo industry will generate over 75.4 billion U.S. dollars in revenue.
The statistic suggests that by the year 2023, the United States air cargo industry is projected to produce more than 75.4 billion U.S. dollars in revenue. This indicates a significant financial contribution from the air cargo sector to the overall economy. The forecasted revenue reflects the anticipated growth and demand for air freight services in the country, driven by factors such as global trade, e-commerce, and supply chain logistics. The statistic highlights the economic importance of the air cargo industry and its role in facilitating the movement of goods efficiently and timely across domestic and international markets.
E-commerce is a significant driver for air cargo and accounted for approximately 20% of air cargo volume in 2019.
The statistic suggests that electronic commerce, or e-commerce, plays a substantial role in driving the demand for air cargo services. Specifically, it indicates that around 20% of the total volume of goods transported by air in 2019 can be attributed to e-commerce activities. This highlights the increasing importance of online retail and digital transactions in driving global trade and transportation logistics. The significant percentage underscores the impact of e-commerce on the air cargo industry, with businesses relying on speedy and efficient air transportation to meet the demands of online customers and supply chains.
In 2020, the air cargo load factor increased to 53.8%, an increase of 8.5 percentage points from the previous year.
The statistic indicates that in 2020, the air cargo load factor, which represents the proportion of available cargo space that is utilized, increased to 53.8%. This represents a significant improvement of 8.5 percentage points compared to the previous year. A higher load factor suggests that airlines were able to efficiently utilize a larger portion of their cargo capacity, potentially indicating increased demand for air freight services or improved operational efficiencies. This boost in load factor can be a positive sign for the air cargo industry, as it demonstrates better capacity utilization and potentially improved profitability for airlines operating in this sector.
Asia-Pacific airlines saw demand for international air cargo fall by 15.2% in August 2020 compared to the same period a year earlier.
The statistic indicates that the demand for international air cargo among Asia-Pacific airlines experienced a significant decline of 15.2% in August 2020 when compared to the corresponding period in the previous year. This decline suggests a notable decrease in the volume of goods being transported by air in the Asia-Pacific region, likely influenced by various factors such as the global economic downturn, disruptions in supply chains due to the COVID-19 pandemic, reduced consumer demand, and restrictions on international trade. The substantial drop in demand for international air cargo highlights the impact of external factors on the aviation industry and emphasizes the challenges faced by airlines in adapting to changing market conditions and maintaining operational efficiency during uncertain times.
Demand for air cargo is expected to grow at a rate of 4.2% over the next 20 years.
The statistic indicates that the demand for air cargo is projected to increase by an average rate of 4.2% annually over the course of the next two decades. This growth rate suggests a positive outlook for the air cargo industry, reflecting an anticipated increase in the volume of goods being transported by air. Factors driving this expected growth may include global economic expansion, increasing international trade, advancements in technology making air transportation more efficient, and the rising demand for time-sensitive deliveries. Stakeholders in the air cargo industry, such as airlines, freight forwarders, and manufacturers, can use this information to anticipate and plan for future changes in demand, potentially leading to strategic business decisions to capitalize on the projected growth.
References
0. – https://www.www.iata.org
1. – https://www.www.worldbank.org
2. – https://www.www.statista.com
3. – https://www.www.grandviewresearch.com
4. – https://www.www.bts.gov
