THE air cargo industry expects its strongest ever peak season as booming e-commerce combines with online shopping's volume, say executives attending the EU Cross-Border eCommerce Forum in Liege Airport, reports New York's Journal of Commerce.
'Brace for impact,' was the blunt warning to shippers and forwarders from Peter Scholten, CCO of freighter operator Air One Aviation. 'We are heading for the highest peak seasons in history.'
The global air cargo market has seen eight straight months of double-digit growth as of August, with a 14 per cent increase in demand and only seven per cent capacity growth over that period, said Ryan Keyrouse, CEO of market intelligence consultancy Rotate.
With volume this year expected to rise 11 per cent to 12 per cent year over year, he estimated volume would grow a further two to seven per cent in 2025, with the high demand taking the air freight industry deep into 'unchartered territory'.
'If e-commerce growth continues aggressively, we are going to be in an unprecedented state,' Mr Keyrouse said. 'The highest two-year growth average we've had in recent decades.'
While the demand has enabled freighter operators to benefit from rising rate levels, the robust market growth is being constrained by a lack of capacity.
Data reported by rate benchmarking platform Xeneta show load factors on Asia-North America flights are at 87 per cent, with both Asia-Europe and Asia-Middle East flights at 86 per cent, which is effectively full for headhaul routes.
Aircraft are also flying at their peak utilisation, with Rotate data for August showing global freighter fleets operating at up to 15 hours a day, just below pandemic flying times.
SeaNews Turkey
'Brace for impact,' was the blunt warning to shippers and forwarders from Peter Scholten, CCO of freighter operator Air One Aviation. 'We are heading for the highest peak seasons in history.'
The global air cargo market has seen eight straight months of double-digit growth as of August, with a 14 per cent increase in demand and only seven per cent capacity growth over that period, said Ryan Keyrouse, CEO of market intelligence consultancy Rotate.
With volume this year expected to rise 11 per cent to 12 per cent year over year, he estimated volume would grow a further two to seven per cent in 2025, with the high demand taking the air freight industry deep into 'unchartered territory'.
'If e-commerce growth continues aggressively, we are going to be in an unprecedented state,' Mr Keyrouse said. 'The highest two-year growth average we've had in recent decades.'
While the demand has enabled freighter operators to benefit from rising rate levels, the robust market growth is being constrained by a lack of capacity.
Data reported by rate benchmarking platform Xeneta show load factors on Asia-North America flights are at 87 per cent, with both Asia-Europe and Asia-Middle East flights at 86 per cent, which is effectively full for headhaul routes.
Aircraft are also flying at their peak utilisation, with Rotate data for August showing global freighter fleets operating at up to 15 hours a day, just below pandemic flying times.
SeaNews Turkey
