The latest DHL Air Freight Market Update Report (February 2026) highlights that Asia Pacific continues to lead global air cargo growth, demonstrating strong resilience despite ongoing geopolitical disruptions, airspace restrictions, and market volatility.
According to the report, global air cargo demand increased by 8 percent year-on-year in January 2026, with Asia Pacific accounting for nearly 50 percent of global volume growth. The region recorded an impressive 12 percent year-on-year growth, underlining its critical role in global airfreight and international supply chains.
“Asia remains the world’s most reliable engine of trade — and that, at least, is something worth smiling about,” said Niki Frank.
The report also references DHL’s Global Connectedness Report 2026, which ranked Singapore as the world’s most globally connected country, while Malaysia, Thailand, and Vietnam emerged as the highest-ranked middle-income economies on the DHL Global Connectedness Index.
Despite the strong demand outlook, the air cargo market continues to face operational challenges. Ongoing Middle East airspace restrictions, flight diversions, and geopolitical tensions have disrupted global transit networks, tightening available capacity on critical trade lanes. Additionally, severe Northern Hemisphere winter weather and shifting tariff environments have added further pressure to the market.
Global air freight capacity grew approximately 5 percent year-on-year in February 2026, supported largely by the continued recovery of passenger bellyhold capacity, particularly across Europe. However, the report notes that capacity growth remains uneven across regions due to ongoing operational disruptions.
IATA forecasts global air cargo demand growth of around 3 percent for 2026, with Asia Pacific expected to remain the primary growth driver, supported by expanding high-value manufacturing, electronics exports, and cross-border e-commerce activity.
“Asia’s maturation as a diversified production ecosystem is clearly visible: when one vertical softens, another accelerates,” said Fabio Weiss.
The report further highlighted that freight rates continue to remain elevated across several key markets. Strong technology and e-commerce demand, coupled with weather-related disruptions and geopolitical constraints, contributed to a 7 percent increase in air freight rates from Asia Pacific.
DHL emphasized that volatility is expected to remain a defining factor for the air cargo market in the months ahead. In response, integrated logistics planning and flexible multimodal strategies are becoming increasingly essential for Asia-based supply chains navigating uncertain market conditions.
The DHL Air Freight Market Update Report is a monthly publication by DHL Global Forwarding
that analyzes key developments and trends shaping the global air cargo industry.
