Despite zero growth in November and December, the global air cargo market is set to achieve double-digit demand growth in 2024, with an 11% increase in global demand noted in October. Spot rates rose 19% year-on-year, reflecting improved balance between buyers and sellers. Industry experts highlight that despite external disruptions, the sector has adapted effectively, focusing on relationships rather than maximizing profits. While air cargo rates remain elevated, they have stabilized due to better preparedness and clearer agreements among industry stakeholders, promising a mature market ahead.

Source: https://www.stattimes.com/air-cargo/air-cargo-on-final-approach-to-double-digit-demand-growth-in-2024-1353616