The volume of air cargo worldwide will grow by 3.7 percent in 2014, a vast increase from the 0.3-percent growth measured in 2013, according to the International Civil Aviation Organization.
The group expects air cargo activity to pick up in the next two years, predicting 4.2 percent growth in 2015 and 4.4 percent growth in 2016.
Regionally, ICAO expects air cargo activity into and out of the Middle East to maintain the fastest growth rate. After growth of 13.9 percent and 12 percent in 2012 and 2013, respectively, ICAO sees the Middle East finishing 2014 with a 12.1-percent growth rate. That number will increase to 12.3 percent in 2015 and 12.4 percent in 2016.
After experiencing negative growth of 4.9 percent in 2013, the North American cargo market should grow by 1.4 percent in 2014, ICAO found. For 2015, North America’s growth will tick up to 1.6 percent, finishing 2016 with a 1.7-percent growth rate.