According to the 2018 global air cargo data released by iata, in terms of freight tonnage and kilometers, the global air cargo market demand in 2018 increased by 3.5% year on year, significantly lower than the growth rate of 9.7% in 2017. In terms of available freight tonnage and kilometers, capacity grew by 5.4 percent year-on-year, exceeding the annual growth rate of demand.

Growth in international air cargo demand in 2018, dragged down by weak demand in December of that year, was the worst performance since March 2016, the iata said in a news release. International air cargo customers are seeing a rapid increase in business inventories, a decline in cargo volumes, weaker global economic activity, weaker global trade, weaker consumer confidence and geopolitical headwinds, among other factors that will explain why demand for international air cargo is tepid in 2018 and stall at the end of the year. However, e-commerce will continue to grow in 2018, which will be a positive factor driving the growth of international air cargo.

Iaa is cautiously optimistic about the outlook for international air cargo growth in 2019, saying that global air cargo faces significant downside risks as global trade tensions continue. Iata director-general and chief executive judynak said it was vital for global air cargo growth that economies keep their borders open to flows of people and trade. In order to meet customers' demand for further refinement of air cargo market, air cargo industry must improve its value orientation. Promoting the implementation of digital modern logistics technologies and applications will help expand the contribution of e-commerce to the growth of air freight, and will provide reliable and efficient services for the transport of time-sensitive and temperature-sensitive goods such as medicines and perishable goods.

Source: economic daily news