It shouldn't. It's the same size SIM, but you can check with your carriers to be sure.
The iPad Air 2's are supposed to come with something called an Apple SIM, which is a SIM issued by Apple. Supposedly you would be able to purchase data as needed from one of three carriers. AT&T, Sprint, and another I can't remember at the moment.
What I'm very curious to know is if you can take an Apple SIM and put it into an older iPad to get the same al la cart data plans.
Given how rarely I need data on my iPad these days (thanks to the iPhone 6 and instant hotspot), it should save me $10 dollars most months. Not a big saving, but something.