Flying Real Low, Plunging Air Cargo Traffic Takes a $15,5 Million Bite Out of the Global Revenues for Air Cargo Containers

New York, Nov.

19, 2020 (GLOBE NEWSWIRE) — announces the release of the report “Global Air Cargo Containers Industry” –
2% in the year 2020 and thereafter recover and grow to reach US£318.3 million by the year 2027, trailing a post COVID-19 CAGR of 4.5% over the analysis period 2020 through 2027. The COVID-19 outbreak has severely hit the freight transport and cargo containers market in the last months and the situation is likely to continue to remain grim for the rest of the year. Strict border travel & cargo movement restrictions imposed across countries to prevent the spread of infections has dealt global exports & imports a massive blow.

Global trade which was already slowing down in 2019 due to trade tensions between U.S. & China is now facing additional woes of pandemic restrictions, recession & falling economic activity. Over 75% of global trade is carried out between countries without a common border making reliance on sea and air greater than trade with countries with common borders where road & rail have higher shares. The announcement of restrictions by the US on flights from Asia and Europe affected shipping and haul cargo capacity.

The supply chain disruption on a global scale and restrictions coerced operators to rely on commercial aircraft, which resulted in a sharp hike in rates of all-cargo airlines. Amid the global cargo capacity crunches in air, road, rail, and ocean freight due to Covid-19, companies are looking into innovative solutions to combat the challenge of managing supply chains. As part of business continuity plans companies have more number of staff operating from home to address consumer queries and arrange for shipments as per the changing market conditions.

With air cargo capacity dropping by double digits compared to the corresponding periods in the year 2019, air freight prices continue to skyrocket, especially in the Transpacific trade area.

Forwarders are considering use of passenger freighters to move smaller quantities.

Passenger areas of airplanes are being used to hold cargo instead of freighters that can hold 130 tons of capacity.CargoCompositesCSafe GlobalDokasch GmbHEnvirotainer ABGranger AerospaceNordisk Aviation Products ASPalNet GmbH Air Cargo ProductsSafran CabinSATCO Products, Inc.VRR-AviationClare: [email protected]: (339)-368-6001Intl: +1 339-368-6001