Air Cargo Containers Market Statistics, Analysis & Forecast To 2024
By: Rahul Bose
Tags: Trade, Market Research Reports, Aerospace, Business Development, Business

Asia Pacific will contribute significantly towards the air cargo containers market place. This growth is attributed to the proliferating e-commerce activities across the region. Further, the increasing trade activities including transportation of cargo and goods related to the pharmaceutical industry is further strengthening the market proliferation till 2024. Industry participants are offering innovative solutions for pharmaceutical products transportation across the region.

Industry participants are continuously investing in R&D for introducing innovative air cargos for special purpose air freight, fueling the air cargo containers market growth over the projected timeframe. For instance, in April 2018 SmartContainers introduced a innovative SkyCell multi-material shipping container with specialized multi-material unit load device (ULD) for shipping pharmaceutical products that require safe and temperature-controlled shipping, providing a positive outlook for the air cargo containers market expansion.

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Based on aircraft, air cargo containers market place is segmented as passenger aircraft and freighter. Newer aircrafts are designed with a focus on increasing belly capacity for passenger aircrafts for carrying cargo. However, freighters are most essential for transportation of materials owing to advantages offered including highly controlled goods transport, improved reliability, unique capacity consideration, and direct routing, providing a positive outlook for the business expansion.

Based on weight cargo aircraft segment is further sub divided into standard body (less than 45 tons), medium widebody (40–80 tons), and large (greater than 80 tons) aircrafts. Increasing demand of regional express services in emerging economies will boost the standard body aircraft. Additionally, replacement of retiring airplanes and expansion of fleet to meet projected traffic growth will further increase the demand for freighters over the forecast timeframe, positively influencing the air cargo containers market place till 2024.

Air cargo containers market is segmented based on position of containers into main deck and lower deck container. Increasing usage of lower deck containers in both wide body passenger and freighter aircrafts will spur the segment demand till 2024. Additionally, special lower deck containers designed for specialized aircrafts will further strengthen the segment demand over the study period.

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The global economic downfall coupled with increasing trade protectionism is considerably hampering the world trade. Additionally, volatility in fuel prices is further posing a threat to the air cargo containers market place. However, trade agreements between countries will minimize the threat of trade protectionism over the forecast timeframe. For instance, the Organization for Economic Co-operation and Development (OECD) estimates that implementation of the WTO Trade facilitation Agreement (TFA) is expected to reduce trade cost between 12% to 18%.

Currently the industry witnessing increasing shipment of lithium-based batteries. These batteries are compact and carry more energy compare to its size, that increases threat of accidents. As per the U.S. Federal Aviation Administration (FAA) between 1991 and 2016 lithium batteries related accidents accounted for 138. Thus, industry participants are focused on introducing improved quality, light weight, and fire-resistant containers, providing a positive outlook for the air cargo containers market share till 2024.

Few players in the air cargo containers market place include Nordisk Aviation, Vinyl Technology, Inc., VRR, Dyneema, Granger Plastics Company, Satco Inc, Cargo Composites, Safran, Nordisk Aviation Products, Horizon International Cargo, Delta Air Lines, Inc., ACL Airshop, DoKaSch GmbH, Envirotainer AB, and PalNet GmbH Air Cargo Products. Strategic partnerships and collaborations for developing newer products are among the prominent strategies adopted by the industry participants for improving their market share.

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