Global air cargo markets maintained strong momentum in February 2026, with demand rising 11.2% year-on-year, according to data released by the International Air Transport Association (IATA). International operations saw slightly higher growth at 11.6%, reflecting ongoing global trade resilience despite emerging geopolitical challenges.

Capacity expanded by 8.5% overall and 9.8% for international flights, indicating that airlines are keeping pace with rising demand, albeit under increasingly complex conditions.

“Air cargo demand grew 11.2% in February. Even considering the boost from pre-Lunar New Year shipments, the month showed strong growth. The outbreak of war in the Middle East at the end of the month, however, makes it difficult to see how full-year performance will unfold. Sharply rising fuel costs, fuel scarcity in parts of the world and severe disruption to key cargo hubs in the Gulf are major shifts,” said Willie Walsh, IATA Director General.

Several broader market trends shaped February’s air cargo performance. Global goods trade grew 5.2% year-on-year in January, supporting higher cargo volumes. Jet fuel prices rose 1.2% year-on-year, while volatility in refining margins added pressure on operational costs. Global manufacturing sentiment strengthened, with the Purchasing Managers’ Index (PMI) rising to 53.1, well above the 50-point expansion threshold. New export orders PMI rose to 51.4, the highest since July 2021, signaling healthy demand for air freight.

Air cargo demand growth varied widely across regions. Asia-Pacific carriers recorded 13.6% growth while capacity increased by 10.1%. North American airlines saw 9.4% growth in demand with capacity up 5.3%. European carriers experienced 6.9% growth in demand and 6.1% growth in capacity. Middle Eastern airlines grew 16.5%, with capacity up 13.5%. Latin America and the Caribbean recorded 0.7% growth in demand with capacity up 4.5%, the weakest performance of all regions. African carriers led global growth with a 21% increase in demand and 17.3% growth in capacity.

Air freight volumes also climbed across all major trade corridors. The Africa–Asia lane surged 61.9%, marking eight consecutive months of growth. Asia–North America grew 9.1%, Europe–Asia 13.1% over 36 consecutive months, Europe–Middle East 9.3%, Europe–North America 5.7% over 25 consecutive months, Middle East–Asia 24% over 12 consecutive months, within Asia 9.1% over 28 consecutive months and within Europe 7.8% for the month. These numbers highlight both long-term and emerging trade patterns.

While February’s figures highlight the air cargo sector’s resilience and robust underlying demand, challenges remain. Fuel cost volatility, geopolitical disruptions and operational constraints in critical hubs could influence performance for the remainder of 2026. Nonetheless, with global trade showing strength and manufacturing momentum on the rise, the air cargo market appears well-positioned to navigate headwinds and continue supporting international supply chains efficiently.