Global air cargo demand rebounded in March, driven by frontloading ahead of U.S. tariffs.

The International Air Transport Association (IATA) released data for March 2025 global air cargo markets showing total demand, measured in cargo tonne-kilometres (CTK), increased by 4.4% compared to March 2024 levels (up 5.5% for international operations), a historic peak for March. 

March's performance reverses a 0.1% decline recorded in February — the first in nearly two years following an already sluggish start to the year.

In January, air cargo demand rose by 3.2% year over year, marking the 18th consecutive month of growth.

"March cargo volumes were strong. It is possible that this is partly a front-loading of demand as some businesses tried to beat the well-telegraphed April 2 tariff announcement by the Trump Administration," Willie Walsh, director general of IATA, said.

Walsh noted that "the uncertainty over how much of the April 2 proposals will be implemented may eventually weigh on trade."

"In the meantime, the lower fuel costs, which are also a result of the same uncertainty, are a short-term positive factor for air cargo."

"And, within the temporary pause on implementation, we hope that political leaders will be able to shift trade tensions to reliable agreements that can restore confidence in global supply chains," Walsh added.

For March, capacity, measured in available cargo tonne-kilometers (ACTK), expanded by 4.3% compared to March 2024 (up 6.1% for international operations). 

APAC airlines drive growth as Middle East carriers see decline

Asia Pacific airlines reported 9.6% year-over-year growth in air cargo demand in March, the highest among regions, with capacity rising 11.3%.

North American carriers saw 9.5% growth, while capacity increased 6.1%. European airlines reported 4.5% growth, with capacity up 2.0%.

Middle Eastern carriers experienced a 3.2% decline in air cargo demand compared to a year ago, despite a 0.8% rise in capacity.

"It's possible the weakness in this market is due to year-on-year comparison with the strong growth at the start of 2024, resulting from disruption to Red Sea maritime freight," IATA said.

Latin American airlines recorded 5.8% growth, with capacity increasing 4.7%. African carriers posted the weakest performance, with demand dropping 13.4%, while capacity rose 10.5%.

Meanwhile, in terms of trade lane growth, IATA said the Europe-North America route was the busiest trade lane in March.

The largest trade lane by market share, Asia-North America, also grew strongly, possibly encouraged by front-loading shipments ahead of potential increased tariffs.

Europe-Middle East and Africa-Asia were the only trade lanes to decline in March.