The demand for air cargo is expected to achieve double-digit growth in 2024.

In October, global air cargo demand rose by 11% year-over-year, reflecting improved market stability amid various disruptions, according to Xeneta. Chief Airfreight Officer Niall van de Wouw noted that the industry’s focus on relationship-building over maximizing revenue has paid off. Despite potential stagnation in the upcoming months, a significant upswing in demand is anticipated for 2024. Spot rates increased 19% year-over-year, with a dynamic load factor of 63%. Shippers have adapted to challenges, leading to stable rates and a more mature market, improving conditions for all parties involved.