New York, United States , Feb. 27, 2024 (GLOBE NEWSWIRE) -- The Global Air Cargo Unit Load Device Market Size to Grow from USD 317.4 Million in 2023 to USD 481.6 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 4.26% during the forecast period.
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International trade and economic growth are intimately correlated with the requirement for air cargo transportation. As economies expand and global trade increases, more effective freight transportation systems—particularly ULDs—are needed. Just-in-time production and the growth of e-commerce are two industry trends that impact the requirement for air cargo ULDs. The need for efficient freight handling solutions is rising as companies rely more and more on air travel to fulfil orders and fulfil deadlines. The introduction of new aircraft models and the growth of airline fleets could drive the need for ULDs. As airlines expand their operations or replace ageing aircraft with newer, more efficient models, increased cargo capacity may necessitate the use of additional ULDs.
Air Cargo Unit Load Device Market Value Chain Analysis
Numerous parties and activities are involved in the air freight unit load devices (ULDs) global value chain. Raw material providers provide the necessary materials, such as aluminium, composites, and polymers. The ULDs are then made by specialised ULD manufacturers that adhere to industry standards. These manufacturers make a range of ULDs, including pallets, containers, and nets, that are specifically designed to meet the needs of cargo operators and airlines. Vendors of componentry supply essential parts including wheels, hinges, and locks to ensure ULD functionality. Ground handling companies ensure efficient loading, unloading and maintenance of ULDs, and logistics companies distribute ULDs from manufacturing facilities to airports and freight terminals worldwide.
Browse key industry insights spread across 200 pages with 110 market data tables, figures, and charts from the report on the "Global Air Cargo Unit Load Device Market Size By Product (Containers, Pallets), By Application (Civil Air Transport, Cargo Air Transport, Others), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033."
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Insights by Product
The container segment accounted for the largest market share over the forecast period 2023 to 2033. As more goods are being sent by air to meet customers' needs for speedy delivery, the e-commerce industry's meteoric growth has resulted in a major increase in the requirement for shipping containers. Pharmaceuticals and other temperature-sensitive goods usually require specialised containers with temperature control features. As the pharmaceutical industry grows and regulations become more stringent, there may be an increase in the need for these kinds of containers. As individuals grow more aware of environmental issues, there may be a shift towards more ecologically friendly container options. Recyclable material containers or ones that maximise space to reduce carbon emissions per unit of goods moved are two examples of these.
Insights by Application
The civil air transport segment accounted for the largest market share over the forecast period 2023 to 2033. The need for trustworthy and efficient air freight services is still fueled by the expansion of international trade. As businesses expand globally and rely more on air transportation to move goods quickly across continents, the necessity for ULDs increases. A number of airlines have been expanding their fleets to meet the growing demand for air freight services. As long as airlines keep purchasing new aircraft, the market will grow since doing so will need them to purchase additional ULDs in order to handle the increased cargo capacity. The rise in e-commerce has led to an increasing demand for air freight transportation.
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Insights by Region
North America is anticipated to dominate the Air Cargo Unit Load Device Market from 2023 to 2033. The overall economic situation in North America has a big impact on how much air freight is needed. The requirement for air freight services typically rises during periods of significant economic expansion, which in turn increases the need for unit load devices (ULDs). There is a greater need for air cargo services because of the unrelenting rise of e-commerce, especially for the quick delivery of goods. This phenomenon has a direct impact on the demand for ULDs since it makes it possible to transport more items by air efficiently. Furthermore, the demand for air cargo is shaped by North America's commercial relationships with other regions of the world, particularly Asia and Europe.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. Due to a number of important considerations, the air freight unit load device (ULD) market in the Asia Pacific area is expanding significantly. Unit load devices and efficient air freight services are in more demand because to the region's robust economic growth, e-commerce boom, and growing need for prompt delivery services. The Asia-Pacific area, with its dense population and growing middle class, has a sizable consumer market that mostly depends on e-commerce. Due to this reliance, air freight has significantly increased in order to carry goods quickly and securely, which has increased demand for ULDs.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Key Players in the Global Air Cargo Unit Load Device Market Size Include Satco Inc, ACL Airshop, Brambles Limited, TransDigm, Zodiac Aerospace, CSAFE, CargoComposites, DoKaSch GmbH, VRR Aviation, Envirotainer, PalNet GmbH, and Other Key Vendors.
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Recent Market Developments
- In August 2022, Jettainer was awarded a contract by the newly formed Norwegian airline, Norse Atlantic Airways, for ULD management services.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Air Cargo Unit Load Device Market, Product Analysis
- Containers
- Pallets
Air Cargo Unit Load Device Market, Application Analysis
- Civil Air Transport
- Cargo Air Transport
- Others
Air Cargo Unit Load Device Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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