- Total demand, measured in cargo tonne-kilometers (CTK), increased by 3.9% compared to July 2025 (4.7% for international operations).
- Capacity, measured in available cargo tonne-kilometers (ACTK), increased by 1.7% compared to July 2025 (1.8% for international operations).
“Air cargo demand grew 3.9% year-on-year in July. While all regions recorded growth, airlines in Asia-Pacific, Europe and North America accounted for more than 90% of the overall increase. Dedicated freighters gained market share as belly-hold traffic declined, possibly reflecting demand for larger or specialist shipments and the operational flexibility that freighters can provide. Looking ahead, the outlook remains broadly positive, supported by manufacturing activity, export orders and global trade. However, higher fuel prices, geopolitical tensions and tariff uncertainty will need to be watched carefully,” said Marie Owens Thomsen, IATA’s Senior Vice President Sustainability and Chief Economist.
Several factors in the operating environment should be noted:
- Global trade increased by 7.5% year-on-year.
- Jet fuel prices rose by 12.2% month-on-month in July and were 56.9% higher than a year earlier.
- Global manufacturing activity eased slightly in June but remained supportive, while export orders reached their highest level in three months. The Global Manufacturing Output Purchasing Managers’ Index (PMI) fell 0.3 points to 52.7, while the New Export Orders Index rose to 50.0. Together, these indicators remained broadly supportive of air cargo demand.
Air cargo market in detail - July 2026 |
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July 2026
(% year-on-year) | World share1 | CTK | ACTK | CLF (%-pt) | CLF (level) |
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| Total Market | 100% | 3.9% | 1.7% | 1.0 | 46.0% | | Africa | 2.1% | 1.1% | 4.1% | -1.4 | 45.8% | | Asia Pacific | 35.8% | 4.1% | 3.0% | 0.5 | 49.5% | | Europe | 21.4% | 4.4% | 1.3% | 1.5 | 51.1% | | Latin America and Caribbean | 2.9% | 4.1% | 7.0% | -0.9 | 32.3% | | Middle East | 13.2% | 1.7% | 4.0% | -1.0 | 44.1% | | North America | 24.6% | 4.8% | -1.5% | 2.5 | 41.2% |
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1% of industry CTK in 2025 |
July Regional Performance
Asia-Pacific airlines saw a 4.1% year-on-year growth in air cargo demand in July. Capacity increased by 3.0% year-on-year.
North American carriers saw a 4.8% year-on-year increase in air cargo demand in July, the strongest performance of all regions. Capacity decreased by 1.5% year-on-year.
European carriers saw a 4.4% year-on-year increase in demand for air cargo in July. Capacity increased by 1.3% year-on-year.
Middle Eastern carriers saw a 1.7% year-on-year increase in demand for air cargo in July. Capacity increased by 4.0% year-on-year.
Latin American and Caribbean carriers saw a 4.1% year-on-year increase in demand for air cargo in July. Capacity increased by 7.0% year-on-year.
African airlines saw a 1.1% year-on-year increase in demand for air cargo in July, the weakest performance of all regions. Capacity increased by 4.1% year-on-year.
Trade Lane Growth
Air cargo performance diverged across major trade lanes in July. Asia–North America recorded the strongest growth, followed by Europe–Asia, and Europe-North America. In contrast, Gulf-linked corridors remained disrupted by the conflict in the Middle East.
| Trade Lane | YoY Growth | Notes | Market Share of Industry* | |
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| | Africa-Asia | -14.7% | 2 consecutive months of contraction | 1.3% | | | | Asia-North America | +9.2% | 6 consecutive months of growth | 23.5% | | | | Europe-Asia | +3.1% | 41 consecutive months of growth | 21.5% | | | | Europe-Middle East | -16.1% | 5 consecutive months of contraction | 5.2% | | | | Europe-North America | +2.1% | 3 consecutive months of growth | 13.5% | | | | Middle East-Asia | -14.1% | 5 consecutive months of contraction | 7.4% | | | | Within Asia | +6.1% | 33 consecutive months of growth | 7.3% | |
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*Share is based on full-year 2025 CTKs. |