Global cargo rose 3.3% in 2025, but airport hubs diverged

By Priya Raman

Global air cargo reached a record 131.2 million tonnes in 2025, up 3.3% from 2024 and 7.4% from 2019, while the 20 leading airports handled 53.1 million tonnes, or close to 41% of the world total.

Airport association ACI World released its 2026 Airport Traffic Dataset in July, after publishing preliminary 2025 results earlier in the year. The rankings show cargo concentrating at major hubs amid trade tensions, protectionism, policy uncertainty and geopolitical shifts in routes.

Global GDP grew about 3% to 3.2%, above expectations but below historical norms, within what ACI World described as a resilient but fragile global economy. Lower fuel prices, easing inflation, an international-led recovery and China’s reopening supported volumes; capacity and slot constraints, which limit landing and departure windows, complicated the market.

Which airports gained the most cargo?

ACI World said cross-border e-commerce, high-value and time-sensitive shipments, plus faster, restructured supply chains, supported cargo near record levels. International freight increased 4.2%, while domestic freight declined 1.8%.

Geopolitical tension and disruption to maritime or air routes can raise costs and remove capacity, but can also push shippers toward faster, more reliable airfreight alternatives. E-commerce and supply-chain diversification remained important supports.

The five leading airports were:

• Hong Kong International Airport: 5.1 million tonnes, up 2.7%, first.
• Shanghai Pudong: 4.1 million tonnes, up 8.3%, second.
• Ted Stevens Anchorage International: 3.9 million tonnes, up 4.2%, rising from fourth to third.
• Louisville: 3.4 million tonnes, more than 13% year-on-year growth, rising from fifth to fourth.
• Miami: 3.1 million tonnes, more than 13% year-on-year growth, rising from seventh to fifth.

Louisville, where UPS operates its global hub, set another cargo record and exceeded its 2019 volume by 21.7%. Miami stood 49.5% above 2019 and, after six record-breaking years, now calls itself the busiest US airport for international freight.

Memphis International, FedEx’s global hub, fell to just under 3 million tonnes. Volume dropped 20.9% from 2024 and was 31.3% below 2019, reversing the gains recorded at Louisville and Miami.

Why does Anchorage rank differently?

ACI World’s standard cargo measure excludes transit freight, meaning cargo that continues beyond the airport, to keep comparisons consistent. Anchorage has reported total cargo, including transit, since the association’s database began in the early 1990s.

Approximately 70% to 80% of Anchorage’s volume is transit freight. Cargo can remain aboard during a technical stop, where an aircraft receives servicing, or during a transfer between aircraft.

Alaska International Airport System director Angie Spear said: “Anchorage is not simply serving a local cargo market; it functions as an international crossroads where global supply chains connect mid-journey.” The concentration makes Anchorage a technical and logistics link between Asia and North America.

What changed in the Hong Kong and Shanghai networks?

A cargo aircraft arriving from Dubai veered off the runway during landing at Hong Kong in October 2025. The Boeing 747 freighter conversion knocked an airport staff vehicle into the sea, killing two staff members; all four crew were rescued.

Air-Land Fresh Lane opened in September 2025, creating a dedicated channel for chilled aquatic products, live seafood and fruits bound for the Greater Bay Area through Hong Kong International Airport and the Hong Kong-Zhuhai-Macao Bridge. Goods can reach Zhuhai for Mainland China customs clearance and enter the Greater Bay Area in as little as three hours after their arrival in Hong Kong.

Hong Kong Air Cargo added Glasgow Prestwick service; One Air began East Midlands flights to the Asia-Pacific gateway via Liège; and Etihad Cargo expanded its schedule. In 2026, Air China Cargo and Ethiopian Airlines added Prestwick freighter flights.

Cathay Pacific-owned Air Hong Kong leased an Airbus A330P2F, a passenger-to-freighter conversion, to expand its regional operations. Cathay separately placed a firm order for two Airbus A350F freighters in May.

At Shanghai Pudong, China Cargo Airlines relaunched its Paris–Shanghai freighter service, China Eastern added Buenos Aires flights, and MyFreighter began services including Amsterdam and Tashkent. Pudong Air Cargo Terminal Co Ltd (PACTL) recently relocated and upgraded its Cross-Border E-Commerce Handling Center at PACTL West Terminal.

PACTL expanded the handling area by approximately 40% to 4,170 square metres and doubled daily handling capacity. Upgraded equipment and digital capabilities support cross-border e-commerce operations, while the route additions broaden Pudong’s freighter network.

Which hubs gained network share?

UPS’s Louisville facility overtook FedEx in Memphis as the world’s busiest express air cargo hub, according to the Chaddick Institute for Metropolitan Development at DePaul University in Chicago. FedEx still serves more airports nonstop from Memphis than any other hub, according to the same review.

What does this change for airport capacity?

ACI World director general Justin Erbacci said: “These hubs keep people and goods moving, supporting global trade, tourism and economic growth in their communities and regions.” He added: “To help keep pace with rising demand, governments must prioritise sustained investment in airports and the broader aviation ecosystem.”

Freight investment can include cargo terminals and warehouses, freighter stands, automated handling and sorting, digital cargo processing, customs and screening facilities, improved landside access, and specialised cold-chain facilities. ACI World says governments can enable projects through enabling policy, efficient customs and border processes, sound planning, predictable regulation, and public-private partnerships.

Needs differ by airport and market, so investment should address specific capacity and efficiency constraints rather than follow one model. Funding can combine public and private capital, with partnerships used where appropriate, and predictable regulation can give investors confidence.

What does 2026 hold?

ACI World expects a relatively resilient but more uncertain and geographically uneven market. Global air cargo grew around 3% year on year in the first half of 2026, despite a substantial Middle East decline associated with the US–Iran conflict.

E-commerce, high-value shipments and supply-chain restructuring should remain important drivers. Geopolitical tensions, airspace restrictions, higher fuel and routing costs, trade-policy uncertainty and weaker economic conditions remain downside risks.

Disruptions may redirect cargo among routes and hubs more than they reduce total demand. For airlines and airports, the forward test is whether they can shift handling and freighter capacity as trade corridors change; ACI World expects flexibility and adaptability to become increasingly important.