Global Air Cargo Market Remains Under Pressure

The global air cargo market continues to face challenges in 2026, with disruptions in the Middle East, rising fuel costs and tighter capacity all placing pressure on international supply chains.

Global air cargo volumes declined by around 4% year on year in March, largely due to disruptions at major Gulf transit hubs. At the same time, airlines have reduced capacity through flight cancellations and route suspensions, with global air freight capacity down approximately 3% year on year by late April.

Despite the softer market conditions, demand for air freight is still expected to grow by 2-3% in 2026, driven by sectors such as AI technology, semiconductors and high value electronics.

Air freight rates also remain elevated, with spot rates reportedly up 45% year on year during week 17. Rising jet fuel prices have led many carriers to introduce emergency surcharges across multiple trade lanes.

For importers and exporters, the current market highlights the importance of forward planning, flexible logistics strategies and securing space early as volatility across global air freight networks continues.