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AMERICAS OIL PRODUCTS: North American Air Cargo Demand up 6.6% in 2024: IATA

AMERICAS OIL PRODUCTS
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North American carriers saw 6.6% year-on-year demand growth for air cargo in 2024 measured in cargo tonne-kilometres (CTK), the lowest percentage growth of any region, according to IATA.

  • However, due it its market size, it nevertheless contributed 23.6% of global CTK growth last year, a significant 17.6 percentage point increase from the previous year, underscoring the region's robust economic state, IATA said.
  • Overall, North America was the second largest air cargo market after APAC, holding 25.8% global share. By comparison, APAC’s share is 34.2%.
  • Capacity, measured in available cargo tonne-kilometres (ACTK), increased by 3.4% year-on-year, also the smallest percentage increase of any region.
  • December’s year-on-year demand increased 5.3% and capacity increased 2.1%.
  • The Asia-North America corridor, the industry's largest cargo market, continued to thrive, posting an 8% annual increase, its 14th consecutive month of expansion.
Screenshot 2025-01-29 131656
Source: IATA
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North American carriers saw 6.6% year-on-year demand growth for air cargo in 2024 measured in cargo tonne-kilometres (CTK), the lowest percentage growth of any region, according to IATA.

  • However, due it its market size, it nevertheless contributed 23.6% of global CTK growth last year, a significant 17.6 percentage point increase from the previous year, underscoring the region's robust economic state, IATA said.
  • Overall, North America was the second largest air cargo market after APAC, holding 25.8% global share. By comparison, APAC’s share is 34.2%.
  • Capacity, measured in available cargo tonne-kilometres (ACTK), increased by 3.4% year-on-year, also the smallest percentage increase of any region.
  • December’s year-on-year demand increased 5.3% and capacity increased 2.1%.
  • The Asia-North America corridor, the industry's largest cargo market, continued to thrive, posting an 8% annual increase, its 14th consecutive month of expansion.
Screenshot 2025-01-29 131656
Source: IATA