Iata forecast shows improved outlook for air cargo
The International Air Transport Association (Iata)'s airline industry forecast 2014-2018 shows that international freight volumes are expected to increase at a compound annual growth rate (CAGR) of 4.1% over the next five years. Emerging economies, particularly in the Middle East (+4.7%) and Africa (+4.4%), will be the fastest-growing markets.
Iran is expected to be the fastest growing country (of markets with more than 100,000 t of cargo per year) for airfreight volumes over the forecasting horizon with a CAGR of 7% per annum, thus taking the total to 156,000 t. The second fastest-growing market, India, will experience a CAGR of 6.8% to add 622,000 extra t. Bangladesh (339,000 t), Ethiopia (319,000 t) and Nigeria (276,000 t) make up the remainder of the top five.
By 2018, the ten largest international freight markets will be the USA (10.05 million t), China (5.64 million t), the UAE (4.97 million t), replacing Germany (4.76 million t), Hong Kong (4.65 million t), Republic of Korea (3.49 million t), Japan (3.48 million t), the UK (2.81 million t), Taiwan (2.35 million t) and India.