The next iteration of the Apple iPad Air will undoubtedly see an upgrade in the SoC in the form of the A8 processor on top of the iOS 8. The iOS 8 will also bring improvements in the camera of the Apple iPad Air as well. There are reports going around that Apple is considering to fit a better and higher resolution camera to the Apple iPad Air while the design of the device will not change. It is rumoured that the new Apple iPad Air will be fitted with the 8-MegaPixel camera that has a larger sensor which helps with low-light stills we see on the iPhone 5s. The release date of the device is not yet known. We are expecting the release of the device somewhere in September or October, in line with the previous iPad launches.
Sources: Mac Rumors