Global air cargo demand increased by 3.9% year on year in July 2026, according to the International Air Transport Association (IATA). International traffic grew by 4.7%.
Capacity rose more slowly, increasing by 1.7% overall and 1.8% on international services. As a result, the global cargo load factor improved by one percentage point to 46%.
All regions reported demand growth. North American airlines recorded the strongest increase at 4.8%, despite reducing capacity by 1.5%. European carriers followed with demand growth of 4.4% against a 1.3% capacity increase, producing the industry’s highest regional load factor at 51.1%.
Asia-Pacific demand rose by 4.1%, while capacity increased by 3%. Latin American and Caribbean airlines also recorded 4.1% growth, although their capacity expanded faster, by 7%.
Growth was weaker in the Middle East and Africa. Middle Eastern demand increased by 1.7% as capacity rose by 4%, while African carriers recorded growth of only 1.1% against a 4.1% capacity increase.
Performance varied considerably between trade corridors. Asia–North America traffic rose by 9.2%, marking six consecutive months of growth, while intra-Asian demand increased by 6.1%. Europe–Asia grew by 3.1%, extending its uninterrupted expansion to 41 months.
By contrast, routes affected by the Middle East conflict contracted sharply. Europe–Middle East traffic fell by 16.1%, Middle East–Asia by 14.1% and Africa–Asia by 14.7%.
IATA said dedicated freighters gained market share as belly-hold cargo declined, possibly reflecting demand for larger or specialist shipments and the greater operational flexibility of freighter aircraft.
The outlook remains broadly positive, supported by a 7.5% increase in global trade, continuing manufacturing expansion and improving export orders. However, IATA warned that geopolitical tensions, tariff uncertainty and sharply higher fuel costs remain significant risks. Jet fuel prices rose by 12.2% during July and were 56.9% higher than a year earlier.