Air cargo set for another challenging year

Date Added: 5 March 2024

Air cargo set for another challenging year

The Davies Turner Group, which provides expedited international airfreight services through our subsidiary Davies Turner Air Cargo, notes that Glyn Hughes, Director General of the International Air Cargo Association (TIACA) said last week at TIACA’s Media Day that the outlook for air cargo is set for another challenging year with geo-political tensions continuing to weigh heavily on global supply chains.

However, he added on the plus side, the surge in cross-border e-commerce remains a major growth driver.

Hughes added that the Russia-Ukraine conflict is adding cost, time, and complexity (to supply chains), particularly on EU-Asia air cargo routes.

Turning to China, Hughes noted that economic recovery had been slow, but GDP nevertheless increased in excess of 5% last year, which he suggested indicates that there is still growth and strength in this market.

India, with its diversified production base is fast-becoming a powerhouse of international trade with a forecast for GDP last year of more than 7%, which is expected to continue in the next few years, Hughes noted.

While air cargo experienced a fair degree of volatility and uncertainty, one constant was the effervescence of the e-commerce segment.

A fuller report on the comments made by Mr Hughes can be seen here: https://airfreight.news/articles/full/ai-air-cargo-set-for-another-challenging-year

For more information about our global air freight forwarding and logistics services, please contact aircargo@daviesturner.co.uk or visit https://www.daviesturner.com/air-freight