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Axis modes

Axis modes specify on which set of axes a 3D layer is transformed. Choose a mode in the Tools panel.
Local Axis mode 
Aligns the axes to the surface of a 3D layer.

World Axis mode 
Aligns the axes to the absolute coordinates of the composition. Regardless of the rotations you perform on a layer, the axes always represent 3D space relative to the 3D world.

View Axis mode 
Aligns the axes to the view you have selected. For example, suppose that a layer has been rotated and the view changed to a custom view; any subsequent transformation made to that layer while in View Axis mode happens along the axes corresponding to the direction from which you are looking at the layer.
Note: The camera tools always adjust along the local axes of the view, so the action of the camera tools is not affected by the axis modes.