Newark, NJ, Oct. 25, 2021 (GLOBE NEWSWIRE) -- According to a survey published by Fior Markets, the global Air Cargo Container Market is predicted to rise from USD 1.56 billion in 2020 and to reach USD 2.18 billion by 2028, growing at a CAGR of 4.3% during the forecast period 2021-2028.
The market for aircraft cargo containers is projected to rise at a healthy rate due to the rising need for international transportations of products and commodities over time. In the last several decades the global air freight business has seen remarkable expansion and is now a vital element of the world’s economy. Air cargo contributes for over 35% of the yearly world commodity movement and commerce by value, as estimated by the International Air Transport Association. The growing demands for air freight transit, notably in Perishable items, have been driven by digitation, e-commerce and exposure to worldwide markets. Sometimes trade disputes or natural disasters may also boost Aircraft Cargo Container demand. Recently, in response to trade blocks imposed by its neighbours resulting from a diplomatic standstill, the Gulf State of Qatar has made extensive use of air cargo services to import products from far-away friendly countries. Along with medications and some chemicals, over a third of all commodities delivered by air freight are Perishable food and agricultural products. The rise in commerce of these items would thus influence the market for aviation cargo containers. In addition, aeroplane cargo container manufacturers focus on delivering lightweight and reliable containers according to the requirements of the aviation sector. Product innovation is therefore a major trend in the aircraft cargo containers market with regard of material, size and specification.
Cargo Containers of aircraft, a form of unit charging device (ULD), are containers for carrying aircraft freight. Aircraft Cargo Containers ease cargo transit by allowing the packaging and maintenance of different kinds of products in a single container. In commercial and cargo flights, several such aircraft cargo containers are utilised for charging, transportation and discharge of items and commodities from one place to another. Aircraft freight container helps cargo handlers to manage huge amounts of freight organised across the whole chain, from source to destination. Containers for aircraft cargo therefore reduce time and effort, enhance process efficiency and facilitate procedure. Aircraft cargo containers also safeguard items from shocks, or falls during loading or unloading, securely and securely. Cargo Containers for aircraft are expensive assets that need to be handled correctly. Aircraft freight containers or other composite materials can be built of metals. Many manufacturers supply aeroplane cargo containers with features that make usage of them even easier, such as forklift bags, cargo safety measures, interior components, shelves and drainage floors. Both civil airlines and armed forces are committed to the notion of air containerisation. Most of the world's major business airlines have structured cargo planes, and passenger aircraft transport freight as well. These airlines are using bespoke air freight containers with ground handling equipment for their unique aircraft. The container for air freight is conveyed to the passenger aircraft on the lower deck, while the cargo aircraft transport containers using the top and lower decks. The increased need for commercial airlines worldwide for air freight containers is likely to fuel air cargo container market growth over the projected timeframe.
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The global air cargo container market is expected to witness significant growth as One of the major drivers of the expansion of the market for air cargo containers is the rise of the pharmaceutical logistics sector. Since drugs require precise storage temperatures, airways are used mainly for carriage. Air transportation is also preferred because of the requirement to deliver medicinal items more promptly. Cathay Pacific Airways provides Pharma Lift services and provides a range of specialised and skilled air carriage services for delicate temperature transport, including pharmaceutical goods. Increased demand for air cargo containers will expand in the next few years, fuelling market development with the continued growth of the pharmaceutical logistic business. The growing transit need for many products throughout the world in less time is the major driving force behind the expansion of the air freight container industry. Containerisation via rail, road and by sea takes a longer time than airlines. The increase in aviation fuel use, leading airlines to limit air freight container aircraft's operating times, is the major factor limiting the growth of the market in air freight container. The containerisation of air freight has recently been increasing and drives the expansion of the market in air freight containers.
Key players operating in global air cargo container market include Nordisk Aviation, Granger Plastics, Jettainer, Envirotainer, Safran Aerosystems, VRR Aviation, ACL Airshop, Unilode, CHEP, etc..
To gain a significant market share in the global air cargo container market, new equipment makers and service providers are forging their piece of the market. The new equipment industry is highly consolidated and in 2020 the leading industry players play a leading role in the worldwide market. These businesses aim to produce innovative and efficient containers to suit the rising demand from the air freight sector.
Passenger segment held the largest market share of 38% in the year 2020
Based on aircraft, the global air cargo container market is segmented into passenger, freighter, military. Passenger segment leaded the market and held the largest market share of 38 % in the year 2020. Current aircraft programmes (B737 Max, A320neo and B777x), market entry of new aircraft programming (C919 and MC-21) as well as increasing aircraft fleet size, lead to increased aircraft manufacturing and containing. Passenger aeroplanes frequently use their bottom cargo hold from one place to another.
Composite segment held the largest market share of 59% in the year 2020
On the basis of Material Type, the global air cargo container market is segmented into Metal, Composite. Composite segment dominated the market and held the largest market share of 59% in the year 2020. The primary development drivers of these adaptable materials are superior flame retards, greater corrosion resistance and a higher strength-to-weight ratio, with comparatively low weight compared with metal containers. Composite containers are also no easy damage; thus, they are helping ULD management firms and airlines handle the greatest problem of decreasing the cost of repairing containers. Containers made from composites are approximately 20-40% lighter than containers from metal.
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Regional Segment of Air Cargo Container Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Based on geography, the global air cargo container market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Europe region held the largest market share of 28% in the year 2020. Various reasons are anticipated to fuel the development of the European nations' markets, including the rise of the e-commerce industry and greater attention on the adoption of items that are temperature sensitive. Furthermore, consumer electronics growth supports the expansion of the air freight market by 2028. In this area, the increasing popularity of certified containers would probably fuel expansion in the market. EASA is a regulatory organisation which offers rules for the transport of air freight to preserve the product's airworthiness.
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About the report:
The global air cargo container market is analysed based on value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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