The air cargo container market is estimated to expand at a substantial rate on the back of growing usage of lightweight materials. Next generation, lightweight materials for cargo containers are likely to witness significant demand owing to efforts to improve product performance, weight reduction, and fuel economy of aircraft.
The demand for refrigerated air cargo containers is expected to rise substantially over the forecast period as well. Proliferation in frozen food and pharmaceutical shipments may anchor this growth. Surge in number of civil aircraft fleet coupled with growing preference towards air cargo shipments for quicker delivery is propelling the sale of ULD containers.
Essentially, firms operating in the air cargo container market are working on new products and technological solutions. For instance, in 2019, major business player, VRR Aviation announced the launch of a fully certified collapsible main deck container which is smaller, compact and can be easily set-up. Meanwhile, in 2017, Zodiac Aerospace introduced new cargo containers for the upper deck of combi aircrafts and cargo freighters, as an effort to expand their product range.
Mentioned below are some of the key trends driving air cargo container market expansion:
North America emerging as a promising business ground
The North America air cargo container industry is anticipated to register more than $450 million owing to a robust demand for air cargo shipments as well as a noticeable presence of several airlines. Supportive government norms and regulations related to air cargo containers in the U.S. are likely to raise the adoption of new generation air cargo containers.
High usage of metals
The metal material segment is expected to hold a prominent share in the global air cargo container sector in the upcoming years owing to longer lifespan and high strength of metallic materials. Metals limit the periodic replacement of air cargo containers.
Increasing application in military aircrafts
The military aircrafts segment is likely to rise at 2.6 percent over the forecast timeframe. This can be credited to growing expenditure on the military sector by governments in key countries, which could drive the application of air cargo containers in military aircraft.
