International airfreight volumes will expand at a compound annual growth rate (CAGR) of 3 percent from 2012 to 2016 as a result of an upward growth trend, forecasts the International Air Transport Association (IATA).
The IATA Airline Industry Forecast 2012-2016 projects freight throughput to post increasing growth over the next few years—starting at 1.4 percent in 2012 and reaching 3.7 percent in 2016.
By 2016, a total of 34.5 million tonnes would have been carried, or 4.8 million more tonnes of air cargo than the 29.6 million tonnes carried in 2011.
“Despite the current economic uncertainty, expected demand for connectivity remains strong. That’s good news for the global economy. Growing air transport links generate jobs and underpin economic growth in all economies,” said Tony Tyler, IATA’s director general and CEO.
The report also identified the five fastest growing international freight markets over the 2011-2016 period: Sri Lanka with an 8.7 percent CAGR, Vietnam with 7.4 percent, Brazil with 6.3 percent, India with 6 percent, and Egypt with 5.9 percent.
It also listed the largest international freight markets by 2016, led by the United States with 7.7 million tonnes. The others are Germany (4.2 million tonnes), China (3.5 million tonnes), Hong Kong (3.2 million tonnes), Japan (2.9 million tonnes), the United Arab Emirates (2.5 million tonnes), South Korea (1.9 million tonnes), the United Kingdom (1.8 million tonnes), India (1.6 million tonnes), and The Netherlands (1.6 million tonnes).
The Asia-Pacific will account for about 30 percent of the expected total increase in freight tonnage over the period. The region will also see international freight demand rising by 3 percent CAGR, in line with global growth over the period. Cargo shipments within and connected to the Asia-Pacific region will comprise some 57 percent of total global volume.
Elsewhere, Europe will post an international freight demand of 2.2 percent CAGR, North America 2.4 percent, Africa 4 percent, Latin America 4.4 percent, and the Middle East with 4.9 percent.
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