Geneva - The International Air Transport Association (IATA) 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 and Africa, will be the fastest-growing markets.
International Freight Developments:
- The Middle East is forecast to be the fastest growing region over the forecast period with a CAGR of 4.7%.
- The second-fastest growing market, Africa, will have a CAGR of 4.4%. Asia-Pacific and Latin America, both with a CAGR of 3.8%, will be the joint third-fastest growing markets.
- The mature markets of Europe and North America will grow at 3.0% CAGR and 2.8% CAGR, respectively.
- By 2018, the ten largest international freight markets will be the United States (10,054,000 tonnes), China (5,639,000), the UAE (4,974,000), Germany (4,763,000), Hong Kong (4,648,000), Republic of Korea (3,487,000), Japan (3,480,000), the United Kingdom (2,808,000), Chinese Taipei (2,350,000) and India (2,223,000).
- Iran is expected to be the fastest growing country (of nations with more than 100,000 tonnes of cargo per year) for air freight volumes over the forecasting horizon with a CAGR of 7.0% per annum. However, it is growing from a low base so it will add just 44,000 tonnes of freight by 2018 for a total of 156,000 tonnes.
- The second fastest-growing market, India, will experience a CAGR of 6.8% to add 622,000 extra tonnes. Bangladesh (339,000 total freight tonnes), Ethiopia (319,000) and Nigeria (276,000) make up the remainder of the top five.
- Another notable growth country will be Qatar. With a CAGR of 5.7% it will be the sixth-fastest growing and it will see 361,000 additional tonnes to take its total freight tonnes to 1,484,000.
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