In September, global air freight demand grew 9.2 percent compared to 2016. This is 4.4 percent higher than the five-year average growth, despite the fact that growth has slowed slightly with September being the slowest month since early spring.
Freight capacity grew 3.9 percent, less than half of demand growth.
All regions saw an increase with the largest growth in Africa, with freight volume growing 17.7 percent. This was slower than August, but twice the five-year average growth.
Freight demand in Europe was 10.3 percent with most of the demands for Asian routes.
The industry has passed its cyclical peak, according to the International Air Transport Association (IATA). In the United States, the inventory-to-sales ratio is stagnant, and globally, third quarter seasonally-adjusted freight volumes have slowed. Both are signs the peak has ended.
“Demand for air cargo grew by 9.2 percent in September,” IATA Director and CEO Alexandre de Juniac said. “While that’s slower than in previous months, it remains stronger than anything we have seen in recent memory. But there are signs that this demand spurt may have peaked. So, it becomes even more important to reinforce the industry’s competitiveness by accelerating the modernization of its many antiquated processes.”
For the year, IATA forecasts air-freight-demand growth of 7.5 percent.