DHL Global Forwarding has reported that the global air freight market continues to face tight capacity as demand from the semiconductor, electronics, and industrial manufacturing sectors outpaces available supply, resulting in elevated freight rates and increasing pressure on airline networks.
Despite the continued recovery of airline operations and the gradual return of air cargo capacity, space remains constrained on key trade lanes. According to DHL Global Forwarding, airlines are increasingly prioritizing capacity on high-demand routes, while ongoing aircraft delivery delays and a substantial global order backlog continue to limit the pace at which additional capacity can enter the market.
Fabio Weiss, Senior Vice President, Air Freight, DHL Global Forwarding Asia Pacific, said: “When available capacity is concentrated on higher-demand corridors, price increases become less of a surprise and more of a reflection of how tight networks are being used.”
The market is also experiencing stronger-than-usual demand as multiple factors converge. While retailers continue replenishing inventories ahead of the year-end holiday season, sustained growth in semiconductor production, electronics manufacturing, and industrial exports is adding further pressure to already constrained air freight networks.
Niki Frank, CEO, DHL Global Forwarding Asia Pacific, noted that the market is experiencing an unusually early and prolonged peak season.
"Traditionally, freight demand builds gradually in the second half of the year as retailers replenish inventories ahead of major shopping events and manufacturers prepare for year-end demand. This year, those familiar pressures are emerging earlier and for reasons that extend far beyond traditional seasonal cycles. An intense and prolonged peak season is already underway due to the convergence of several demand drivers," she said.
The tightening supply-demand balance has pushed global air freight spot rates higher. DHL Global Forwarding reported that global air freight spot rates reached USD 3.75 per kilogram in Week 25 of 2026, representing a 47% increase compared with the same period last year. The elevated pricing reflects continued market volatility, constrained capacity, higher jet fuel costs, and additional operational risk surcharges.
As demand continues to exceed available capacity across key international trade corridors, DHL Global Forwarding expects airlines, shippers, and freight forwarders to closely monitor market conditions while adapting their logistics strategies to maintain supply chain resilience throughout the remainder of the year.
