Air Cargo Containers Market to Witness Robust Expansion Throughout the Forecast Period
April 28, 2022
According to a research report by Stratview Research, the global air cargo containers market is expected to grow at a healthy rate over the next five years to reach US$ 341.3 million in 2024. Increasing cargo traffic (freight tonne kilometers) owing to growing e-commerce, pharmaceutical and electronic industries; development of lightweight and more durable containers; and an advancement in the container technology are some of the major drivers of the market. Increasing aircraft deliveries and higher demand for wide-body aircraft further elevate the demand for containers in the aviation industry.
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Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Segments' Analysis
Stratview Research has segmented the “Air Cargo Containers Market” by Container Type (LD-3, LD-6, LD-11, M-1, and Others), by Material Type (Composite Container, Metal Container, and Other Containers), by Deck Type (Lower Deck and Main Deck), by Application Type (Passenger Aircraft and Freighter Aircraft), by Sales Type (Container Manufacturing and Container Repair), by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, and Military Aircraft), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Based on the material type, the market is segmented as composite containers, metal containers, and other containers. Metal is expected to remain the largest material type in the market during the forecast period. Easy availability of metal containers, excellent track record, and low cost are some of the major growth drivers of the metal containers.
Composite containers segment is likely to witness the highest growth during the forecast period. Superior flame retardancy, higher corrosion resistance, and higher strength-to-weight ratio at a relatively low weight in comparison with metal containers are the major growth drivers of these versatile materials. Additionally, composite containers do not damage easily; thus, help ULD management companies and airlines to address the biggest challenge of reducing the container repair cost. Composites containers are about 20% to 40% lighter than that of aluminum containers.
Based on the application type, the market is segmented as passenger aircraft and freighter aircraft. Passenger aircraft is expected to remain the largest and fastest-growing application type in the market during the forecast period. Increasing passenger and cargo traffic, introduction of variants of existing aircraft programs (B737 Max, A320neo, and B777x), market entry of new aircraft programs (C919 and MC-21), and rising aircraft fleet size are driving the production of aircraft; therefore, containers used in it. Passenger aircraft usually use its lower hold for carrying containers from one location to another location.
Based on aircraft type, the market is segmented as the narrow-body aircraft, wide-body aircraft, very large aircraft, and military aircraft. Wide-body aircraft is expected to remain the largest and fastest-growing aircraft type in the market during the forecast period. High number of containers per aircraft, increasing deliveries of wide-body aircraft, and increasing demand for wide-body aircraft by cargo airlines are some of the major growth drivers of the segment.
The following are the key players in the Air Cargo Containers Market -
- Zodiac AirCargo Equipment
- Cargo Composites
- Nordisk Aviation
- VRR-Aviation
- DokaSch GmbH
- Satco Inc.
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