Geneva – The International Air Transport Association (IATA) released data for October 2025 global air cargo markets showing:
- Total demand, measured in cargo tonne-kilometers (CTK), rose by 4.1% compared to October 2024 levels (+4.8% for international operations).
- Capacity, measured in available cargo tonne-kilometers (ACTK), increased by 5.1% compared to October 2024 (+6.4% for international operations).
"Air cargo demand grew 4.1% year-on-year in October, marking the eighth consecutive month of expansion and setting a new monthly record for volumes. While the Asia-North America trade lane extended its contraction to six months, October saw double-digit or near double-digit growth within Asia, between the Middle East and Europe, and between Europe and Asia. This shifting growth pattern shows that air cargo is enabling global supply chains to adapt to the impact of US tariffs. This positive news is especially significant as the air cargo sector enters the peak fourth quarter shipping season," said Willie Walsh, IATA's Director General.
Several factors in the operating environment should be noted:
- The global goods trade grew by 3% year-on-year in September.
- Global industrial production rose 3.7% year-on-year in September, the fastest pace since March 2025 and the strongest monthly reading since late 2022.
- Jet fuel prices increased 2.5% in October even as crude fell, with a tightening diesel market driving the jet crack spread to nearly double last year's level.
- Global manufacturing sentiment strengthened slightly in October, with the PMI rising for the third consecutive month to reach 51.45. New export orders deteriorated slightly to 48.31, remaining below the 50-point expansion threshold, reflecting ongoing caution amid tariff uncertainty.
Air Cargo Market in Detail
| October 2025 (%year-on-year) | World Share *1 | CTK | ACTK | CLF (%-pt) *2 | CLF (level) *3 |
|---|---|---|---|---|---|
| Total Market | 100% | 4.1% | 5.1% | -0.5% | 47.1% |
| Africa | 2.0% | 16.6% | 20.0% | -1.2% | 41.3% |
| Asia-Pacific | 34.3% | 8.3% | 7.3% | 0.5% | 49.6% |
| Europe | 21.5% | 4.3% | 4.3% | 0.0% | 54.7% |
| Latin America and the Caribbean | 2.9% | -2.7% | 2.8% | -2.2% | 39.1% |
| Middle East | 13.6% | 5.7% | 10.0% | -1.9% | 46.7% |
| North America | 25.7% | -2.7% | 0.1% | -1.2% | 40.9% |
(*1) % of industry CTKs in 2024 (*2) Year-on-year change in load factor (*3) Load factor level
October Regional Performance
Asia-Pacific airlines saw an 8.3% year-on-year growth in air cargo demand in October. Capacity increased by 7.3% year-on-year.
North American carriers saw a 2.7% year-on-year decrease in growth for air cargo in October, the weakest performance among all regions, tied with Latin America. Capacity increased by 0.1% year-on-year.
European carriers saw a 4.3% year-on-year increase in demand for air cargo in October. Capacity increased 4.3% year-on-year.
Middle Eastern carriers saw a 5.7% year-on-year increase in demand for air cargo in October. Capacity increased by 10.0% year-on-year.
Latin American carriers saw a 2.7% year-on-year decrease in demand for air cargo in October, the slowest growth of all regions, tied with North America. Capacity increased by 2.8% year-on-year.
African airlines saw a 16.6% year-on-year increase in demand for air cargo in October, the strongest rise of all regions. Capacity increased by 20.0% year-on-year.
Trade Lane Growth
Air freight volumes in October 2025 increased across most major trade corridors, with the notable exceptions of trade lanes between North America and Asia, and within Europe. Europe–Asia posted the strongest performance with double-digit growth, followed by solid gains on Middle East–Asia, Africa–Asia, and Within Asia routes. Europe–North America also recorded modest positive growth. Europe–Middle East was broadly flat.
| Trade Lane | YoY growth | Notes | Market share of industry* |
|---|---|---|---|
| Asia-North America | -1.4% | 6 consecutive months of decline | 24.6% |
| Europe-Asia | +11.7% | 32 consecutive months of growth | 20.4% |
| Middle East-Europe | +0.1% | 1 month of growth | 5.6% |
| Middle East-Asia | +11.5% | 8 consecutive months of growth | 7.3% |
| Within Asia | +9.0% | 24 consecutive months of growth | 7.0% |
| Within Europe | -0.7% | 3 consecutive months of decline | 2.0% |
| North America-Europe | +2.6% | 21 consecutive months of growth | 13.3% |
| Africa-Asia | +10.9% | 4 consecutive months of growth | 1.4% |
*Share is based on full-year 2024 CTKs.
> View October 2025 Air Cargo Market Analysis (pdf)
