According to IATA’s Airline Industry Forecast for 2013-17, international airfreight volumes are expected to grow 17% during 2013-2017, expanding at a five-year 3.2% compound annual growth rate (CAGR), 31% of the total air cargo tonnage growth will come from within the Asia-Pacific region. China is expected to add over one million additional cargo tons by 2017, matching the US’s predicted volume increase for the same period. IATA forecasts the largest international freight markets by 2017 will be the US, China, Germany, Hong Kong and the United Arab Emirates.

By 2017, routes within Asia-Pacific will maintain the largest freight traffic market share (26.2%), followed by Europe to Asia-Pacific routes (11.8%) and North and Mid-Pacific routes (10.2%).

The fastest regional growth is forecast to occur in Africa, with 4% CAGR. The Middle East and Latin America will each see 3.8% CAGR; Asia-Pacific will be at 3.5% CAGR, followed by Europe (2.4% CAGR) and North America (2.7 CAGR).

Air freight growth by country is forecast to be strongest in Vietnam (6.6% CAGR), Bangladesh (5.7% CAGR), followed by Brazil (5.5% CAGR), Ethiopia (5.3% CAGR) and Peru (5.2% CAGR).

Original article available on http://atwonline.com/finance-amp-data/iata-forecasts-17-global-air-cargo-growth-2017