Boeing [NYSE: BA] will be featured in the opening session of the 11th Annual International Air Cargo Conference (IACC) in Nashville, Tenn. The event will be held May 20-22, 2002, at the Opryland Hotel.
Participating in the opening session for Boeing will be Thomas Hoang, regional director of cargo marketing for Boeing Commercial Airplanes. Hoang will be a featured panelist in a discussion of "The State of the Air Cargo Industry -- Questions of Economics, Security and the Future."
The focus of Hoang's presentation is the current state of the air cargo business in the world trade market where, as a $46 billion per year industry, it accounts for the shipment of 40 percent of the world's trade by value. He also will discuss the trends following the terrorist attacks of Sept. 11, 2001, and the general economic slowdown that had already begun by that time. These events resulted in the worst air cargo traffic decline that the industry has seen in 30 years.
"We track the industry very carefully, as air cargo is a very important market for Boeing," Hoang said. "About 90 percent of the world's freighter capacity is provided by airplanes built by Boeing and, as the market leader, we need to identify trends in their early stages."
IACC attracts delegates and exhibitors from throughout the world to discuss critical issues involving the shipping, transportation and international trade industries. The theme, acknowledging increased security requirements, for this year's conference is "Integrating Technology to Improve Supply Chain Logistics & Security." Speakers are participating from a variety of backgrounds, including commercial shipping, importing, exporting and logistics, as well as government officials. The exposition features carriers, technology providers and support service companies, among others.
The Boeing cargo product line has been instrumental in the development of the air cargo industry, dating back 85 years to the early mail carriers and continuing as a key player in the rapid growth of the business during the past 30 years. A key driver of this growth has been the Boeing 747 freighter family, which was originally designed with freight as a consideration and accounts for about 45 percent of the world's total freighter capacity.
Hoang is a key member of the Boeing team that develops the biennial
World Air Cargo Forecast, the most respected document of its type in the air freight industry. Issued in even-numbered years, the next edition will be issued in September at International Air Cargo Forum and Exposition 2002 in Hong Kong.