JOC Staff | Sep 26, 2012 11:50AM EDT
The U.S. air freight and express industry saw volume fall 1.3 percent year-over-year in 2011 to 12.117 billion ton miles (for domestic freight and mail, combined), according to Air Cargo Management Group, which has issued a new report covering the market.
Total revenue for the sector climbed, however, to $28.01 billion, up 7.4 percent over the 2010 results. This figure remained well below the peak of $32.8 billion recorded in 2011, and in fact approximates the level seen in 2000-01, ACMG said.
“In other words, the U.S. air freight industry, once characterized by rapid double-digit growth, has gone through 10 to 15 years with no net expansion,” said Robert Dahl, ACMG’s managing director, in a written statement. “Part-year data for 2012 shows flat traffic versus 2011, so the chance of any significant rebound this year in traffic volume appears remote.”
ACMG projects the U.S. domestic air freight market is unlikely to expand faster than growth in U.S. GDP over the long term.