Air freight growth defies fuel price hikes

The global air freight industry has continued to grow despite a sharp increase in jet fuel prices, according to data released by the International Air Transport Association (IATA) on Wednesday. Freight volumes rose by 7.7% in September compared to the same month last year, and for the first nine months of 2025, the increase was 5% compared to the same period in 2024, which had already set a record.

Rising costs outpace revenue gains

IATA highlighted that while demand for air freight is strong, the rising costs of operating aircraft are not being offset by higher revenues. Jet fuel prices have more than doubled in one year, increasing by 103.4% in September compared to the same period last year. This increase far outpaces the 25.9% rise in freight yields, or the price per ton of cargo transported.

Air freight's unique role in global trade

Air freight accounts for less than 1% of the weight of international trade but transports about a third of its value. It is essential for moving high-value, time-sensitive goods such as electronics, pharmaceuticals, and perishable items like flowers. The growth of e-commerce, especially from China, has further boosted demand for air freight, with platforms like Temu and Shein relying heavily on fast delivery times.

Future growth expected in air freight

Boeing predicts that global air freight traffic will double over the next twenty years, with an average annual growth rate of 3.5% until 2045. The company forecasts that the global fleet of cargo aircraft, which was around 2,400 in 2025, will grow to nearly 3,500 by 2045. Boeing expects the number to exceed 4,000, largely to replace older aircraft.

Cargo aircraft market expands

According to Fortune Business Insights, the global cargo aircraft market was valued at 4.16 billion dollars in 2025 and is expected to reach 6.88 billion by 2034. The market also benefits from the conversion of passenger planes into freighters, a process known as P2F. Boeing currently leads this area with about 70% of the long-haul freight market share.

Airbus challenges Boeing with new freighter

Airbus is competing with Boeing through its new A350F freighter, which made its first flight in September. The aircraft can carry up to 111 tons of cargo over 8,700 kilometers and features a large lateral loading door, measuring about 4.5 meters wide. It is also more fuel-efficient than previous models and has already received 115 confirmed orders from 14 airlines.