OVER the next five years, indian air cargo traffic is expected to grow from 3.7 million tonnes today to between 5 and 5.8 million tonnes by 2029 or about 6-9 per cent per year, reports Mumbai's The STAT Trade Times.
The India Air Cargo Outlook 2025-2029 by Trade Data Service by Trade and Transport group showed that the forecast range for Indian air cargo volumes in the next five years is between 6.2 and 9.1 per cent.
This is higher than recent performance, but in line with longer-term performance through 2019.
'Strong expected economic and trade growth is likely to drive additional air cargo volumes over the next five years. We expect the Indian air cargo market to outperform the overall global air cargo market,' reads the report.
Talking about the current air cargo numbers and data available till October 2024, the report announced that the recovery of the Indian air cargo market appears to be complete. 'Both international and domestic volumes are higher than their respective 2018 and 2019 peak levels,' it reads.
'India's air cargo market has done well in 2024,' wrote Frederic Horst, managing director, Trade and Transport Group, in a LinkedIn post.
The Indian international air cargo market outperformed both the global and Asia Pacific average and is on track for around 19 per cent growth in 2024.
Indian domestic air cargo grew between 6 and 8 percent. Overall airport tonnage handled is expected to be in the order of 14 per cent, according to the report.
In terms of Indian international air cargo volumes, the report noted that 'Delhi and Kolkata underperformed, while Southern Indian airports showed above average performance.'
Ninety per cent of India's air cargo is handled at six airports - Delhi (DEL), Mumbai (BOM), Bengaluru (BLR), Chennai (M), Hyderabad (HYD) and Kolkata (CCU).
While Delhi underperformed internationally, domestic volumes increased by 14 per cent. 'Carrier level traffic indicated growth of about 7 per cent for the same period,' it reads.
At a route level, data for the first half of the year shows strong performance for Southeast Asian freight, but weaker performance in other markets.
'Direct India to Europe as well as traffic via the Gulf accounts for about two-thirds of Indian international air cargo. Year-to-date trade data through to October shows an increase of air trade between India and Europe in the order of 16 per cent compared to 2023,' it reported.
Citing the widebody fleet order backlog of both Air India and IndiGo, Trade Data Service is expecting Indian carriers to increase their share of their home market.
Mr Horst wrote: 'Interestingly, despite being the world's 5th largest air cargo market, India-domiciled carriers collectively operate less than 20 freighters. And that is also less than in 2009/2010, even though air cargo volumes are twice as high as then.'
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The India Air Cargo Outlook 2025-2029 by Trade Data Service by Trade and Transport group showed that the forecast range for Indian air cargo volumes in the next five years is between 6.2 and 9.1 per cent.
This is higher than recent performance, but in line with longer-term performance through 2019.
'Strong expected economic and trade growth is likely to drive additional air cargo volumes over the next five years. We expect the Indian air cargo market to outperform the overall global air cargo market,' reads the report.
Talking about the current air cargo numbers and data available till October 2024, the report announced that the recovery of the Indian air cargo market appears to be complete. 'Both international and domestic volumes are higher than their respective 2018 and 2019 peak levels,' it reads.
'India's air cargo market has done well in 2024,' wrote Frederic Horst, managing director, Trade and Transport Group, in a LinkedIn post.
The Indian international air cargo market outperformed both the global and Asia Pacific average and is on track for around 19 per cent growth in 2024.
Indian domestic air cargo grew between 6 and 8 percent. Overall airport tonnage handled is expected to be in the order of 14 per cent, according to the report.
In terms of Indian international air cargo volumes, the report noted that 'Delhi and Kolkata underperformed, while Southern Indian airports showed above average performance.'
Ninety per cent of India's air cargo is handled at six airports - Delhi (DEL), Mumbai (BOM), Bengaluru (BLR), Chennai (M), Hyderabad (HYD) and Kolkata (CCU).
While Delhi underperformed internationally, domestic volumes increased by 14 per cent. 'Carrier level traffic indicated growth of about 7 per cent for the same period,' it reads.
At a route level, data for the first half of the year shows strong performance for Southeast Asian freight, but weaker performance in other markets.
'Direct India to Europe as well as traffic via the Gulf accounts for about two-thirds of Indian international air cargo. Year-to-date trade data through to October shows an increase of air trade between India and Europe in the order of 16 per cent compared to 2023,' it reported.
Citing the widebody fleet order backlog of both Air India and IndiGo, Trade Data Service is expecting Indian carriers to increase their share of their home market.
Mr Horst wrote: 'Interestingly, despite being the world's 5th largest air cargo market, India-domiciled carriers collectively operate less than 20 freighters. And that is also less than in 2009/2010, even though air cargo volumes are twice as high as then.'
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