The International Air Transport Association (IATA) today released data for September 2025 global air cargo markets, showing continued, robust growth in demand, though trade patterns are experiencing a significant change.
Total global demand, measured in cargo tonne-kilometers (CTK), rose by 2.9% compared to September 2024 levels. Capacity, measured in available cargo tonne-kilometers (ACTK), increased by 3.0% year-on-year. This marks the seventh straight month of overall growth for the air cargo industry.
“Air cargo demand grew 2.9% year-on-year in September, marking the seventh consecutive month of overall growth. Buried in that growth is a significant alteration of trade patterns as US tariff policies, including the ending of de minimis exemptions, kick in,” said Willie Walsh, IATA’s Director General.
Walsh noted that a decline in North America-Asia demand over the last five months has been more than compensated for by strong growth within Asia and on routes linking Asia to Europe, Africa, and the Middle East.
“While many had feared an unwinding of global trade, we are instead seeing air cargo adapting successfully to serve shifting market demands. The industry is demonstrating remarkable resilience and flexibility by re-routing freight flows to accommodate new economic realities,” added Walsh.
Several factors influenced the September performance:
- Global Goods Trade grew by 3.7% year-on-year in August.
- Manufacturing Sentiment strengthened for the second straight month, with the Purchasing Managers’ Index (PMI) reaching 51.3 in September, indicating expansion. However, new export orders remained just below the 50-point expansion threshold at 49.6, reflecting ongoing caution.
- Jet Fuel Prices rose 5.4% in September, driven primarily by a tighter diesel market which doubled the crack spread compared to the previous year.
Regional performances highlighted the divergence in trade flows:
| Region | Demand (CTK) Growth | Capacity (ACTK) Growth | Key Observation |
|---|---|---|---|
| Africa | +14.7% | +7.4% | Strongest rise of all regions, boosted by Africa-Asia routes. |
| Asia-Pacific | +6.8% | +4.8% | Led the main market growth, driven by intra-Asia and Asia-Europe flows. |
| Europe | +2.5% | +4.4% | Continued steady growth, supported by robust Europe-Asia traffic. |
| Middle East | +0.6% | +5.5% | Modest demand growth alongside significant capacity expansion. |
| North America | -1.2% | -1.5% | The North America-Asia corridor decline is now impacting overall regional performance. |
| Latin America | -2.2% | +3.1% | Slowest performance among all regions in September. |
Air freight volumes increased across most major trade corridors, including robust double-digit growth on Europe–Asia and Within Asia routes. In contrast, the key Asia–North America corridor recorded a decline, illustrating the shift in global commerce.
