According to an analysis by WorldACD Market Data, the Europe region recorded significant growth in 2024 for both inbound and outbound air cargo tonnages, although there were notable month-to-month variations. In December, for example, inbound tonnages to Europe were up year-on-year (YoY), up +7%, and outbound tonnages from Europe up +2% compared to December 2023, while the overall trend for 2024 is one of strong growth, especially for inbound tonnages, which are up by +15% year-on-year for the full year, and outbound chargeable weight which is growing by +7%.
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Within those growth figures, there is significant variation between the performance of general cargo and special cargo products – and among those special cargo product categories. Out of Europe, general cargo volumes grew at a slightly higher rate (+8%, on an annual basis) than special cargo traffic (+5%), although there was particularly strong growth of several special cargo products, notably meat (+33%), fruit and vegetables (+20%), and fish and seafood (+10%). Dangerous goods (+6%), vulnerable/high-tech (+5%), flowers (+2%) and valuables (+2%) recorded moderate growth from Europe, while live animal shipments recorded a significant decline ( -15) %, YoY) from Europe in 2024.
On the inbound side, general cargo – which includes significant volumes of e-commerce traffic – increased +17% in 2024, with inbound special cargo volumes up +11%, year-on-year. Within those special cargo categories, vulnerable/hightech recorded +29% inbound growth, with meat (+13%) and fish and seafood (+11%) also seeing double-digit percentage growth in inbound volumes to Europe.
All but one of Europe’s top 10 largest outbound air cargo markets recorded growth in 2024, based on the more than 2 million monthly transactions recorded by WorldACD’s global database. US Northeast remains Europe’s leading outbound air cargo market by flyable weight, having recorded +5% growth, year-on-year, with China East now only slightly behind at +8% growth in 2024. Meanwhile, there was double-digit percentage growth in tonnes flown from Europe to the United Arab Emirates (+27%, YoY), India (+17%) and Saudi Arabia (+38%).
Asia continues to dominate the top 10 largest inbound origin markets for air cargo flown to Europe, with Hong Kong once again leading – thanks in part to +27% year-on-year growth in 2024 – followed by China East (+19% , year-on-year), China South East (+21%), and India, which recorded +22% year-on-year growth in chargeable weight flown to Europe. Cargo flown from China Central and West to Europe also recorded significant growth (+51%) in 2024.
On the price side, average full-market rates for outbound shipments from Europe fell by -17% in 2024, while average rates for inbound shipments to Europe rose +15% year-on-year. Outbound rates from Northern Europe and Western Europe fell the most, -18% and -17% respectively, with average prices from Balkan & SE Europe (-11%) and from Eastern Europe (-13%) slightly better held.
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Conversely, inbound rates to Northern Europe (+24%, year-on-year) and Western Europe (+15%) recorded the largest increases in 2024, with smaller increases to Balkan & SE Europe (+6%) and Eastern Europe (+12%, YoY).
