Viet Dragon Securities - Aviation – Global air cargo volume is forecast to slow down in 2025

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Viet Dragon Securities

Quan Cao

Aviation – Global air cargo volume is forecast to slow down in 2025

In 2024, Vietnam's total import and export value by air is estimated to reach USD 215 billion (+11% YoY), with a total volume of 1.1 million tons (+20% YoY). This growth is driven by the rapid expansion of cross-border e-commerce and maritime shipping restrictions during the peak season.
In 2025, global air cargo volume is expected to grow by 3.6% YoY, supported by continued investment in technology, which boosts e-commerce, and increased aircraft purchases by airlines to meet transportation demands.
However, the growth rate has slowed significantly compared to 2024 due to uncertain policies in President Donald Trump's second term. Key factors include a shift back to sea shipping as ocean freight rates drop following a January 2025 ceasefire in the Middle East and weakened global consumer demand if the Trump administration imposes tariffs on Canada, Mexico, and China.

07/02/2025 6 EN

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Viet Dragon Securities

Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.

RongViet Research reports are diversified and abundant, along with in-depth analysis and performed by experienced, highly-qualified and knowledgeable teams. With the objectives of transparency, accurate and timely manner, RongViet believes that our products would always be important sources of information for customers/investors’ investment decisions.”

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Analysts

Quan Cao

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Aviation – Global air cargo volume is forecast to slow down in 2025

STRONG VOLATILITY

DCM - The thrust from selling price is not strong enough

RETESTING THE 1,200 AREA

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