The International Air Transport Association (IATA) has released global air cargo market data for November 2025, showing that total demand, measured in cargo tonne-kilometres (CTK), rose by 5.5% compared to November 2024 levels.

IATA stats also reveal that capacity, measured in available cargo tonne-kilometres (ACTK), increased by 4.7% compared to November 2024.

Willie Walsh, IATA’s director general, said: “Air cargo demand grew 5.5% year-on-year in November 2025, boosted by shippers prioritising timely delivery in the lead-up to the year-end holiday season.

“Strong emerging market demand and selective Middle Eastern growth more than made-up for softness in the Americas amid ongoing adjustment to the new US tariff regime.

“Globally, the fourth quarter for air cargo was resilient as strategic re-routing of trade shaped performance across key markets.

“The strong end for 2025 bodes well for the air cargo industry as it enters the new year.”

November’s regional air cargo performance showed clear contrasts across global markets. African airlines recorded the strongest growth, with demand rising by 15.6% year-on-year, underpinned by an 18.1% increase in capacity, reflecting continued expansion across the region.

At the other end of the spectrum, Latin American and Caribbean carriers delivered the weakest results, as cargo demand fell by 4.8% compared with last year and capacity declined by 3.0%. North American airlines also faced headwinds, posting a modest 1.6% year-on-year drop in demand alongside a 2.3% reduction in available capacity.

Elsewhere, performance was more positive. Asia-Pacific carriers saw demand grow by 10.3% year-on-year, supported by an 8.4% increase in capacity, while European airlines reported a 5.8% rise in demand and a 4.1% capacity increase. Middle Eastern carriers also continued to expand, with demand up 7.4% year-on-year, although capacity growth outpaced volumes, rising by 11.0%.

IATA also reports that air freight volumes in November 2025 increased across all major trade corridors.

You can read the latest Air Cargo Market Analysis from IATA in full here.