New York, United States , July 03, 2023 (GLOBE NEWSWIRE) -- The Global Air Cargo Container Market Size is To Grow from USD 1.59 Billion in 2022 to USD 2.28 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 3.7% during the projected period.
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Air cargo containers, also known as Unit Load Devices (ULD), are solid vessels that carry luggage, freight, or other cargo. It is made up of refrigerated and non-refrigerated containers that can transport a large amount of cargo in a single unit. The shape and size of containers vary according to consumer preferences and cargo type. These containers must be compatible with cargo handling systems and designed to fit within the cargo hold of an aircraft. Because of the growth of the e-commerce industry, various sales channels are under pressure to provide faster delivery and a more efficient supply chain. Many third-party logistics companies are expanding their services to include air cargo as an important mode of goods transportation. Foods and beverages, pharmaceuticals, biological products, computers, and consumer electronics are examples of perishable and high-value goods transported by air, and they are also among the fastest-growing trade flows among various countries. Demand for air cargo is expected to rise as overall cross-border trade expands. Emerging countries are converting and upgrading existing airports into cargo terminals in response to rising air cargo demand, which will drive the development of the air cargo container market. However, price fluctuations in aviation fuel are a significant constraint on the air cargo container market.
Browse key industry insights spread across 200 pages with 100 Market data tables and figures & charts from the report on "Global Air Cargo Container Market Size, Share, and COVID-19 Impact Analysis, By Container Type (Refrigerated, Non-Refrigerated), By Material (Metal, Composite), By End-User (New Sales, Maintenance & Repair), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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The refrigerated segment is expected to grow at the highest CAGR in the global air cargo container market during the forecast period.
The global air cargo container market is divided into refrigerated and non-refrigerated containers. The refrigerated segment, among these, is expected to grow at the fastest CAGR in the global air cargo container market during the forecast period. The global pharmaceutical market is today's most specialized, regulated, and fragile cargo market to deal with.
The metal segment is expected to hold the largest share of the global air cargo container market during the forecast period.
The global air cargo container market is divided into two categories: metal and composite. Among these, the metal segment is projected to account for the majority of the global air cargo container market throughout the forecast period. ULD containers are typically made of aluminum or steel, depending on the requirements. Aluminum is widely used due to its lightweight and resistance to corrosion.
The new sales segment is expected to grow at the highest pace in the global air cargo container market during the forecast period.
The global air cargo container market is segmented by end-user into new sales, maintenance, and repair. Among these, the new sales segment is projected to expand at the fastest rate in the global air cargo container market during the forecast period. The growing aircraft fleet will fuel the dominance of new ULD containers.
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Asia Pacific is anticipated to hold the largest share of the global air cargo container market over the predicted timeframe.
Asia Pacific is expected to hold the largest share of the global air cargo container market. Expansion of trade operations, such as cargo and transport of goods for the pharmaceutical, FMGC, and electronics sectors, is fueling the region's market explosion. Major competitors are present in this region, with innovative approaches to pharmaceutical product transportation.
During the forecast period, North America is projected to expand at the fastest rate in the global air cargo container market. This region has the most active and extensive B2B buyer network. Increased aircraft deliveries and the widespread use of wide-body aircraft are expected to drive up demand for air cargo containers in this region's aviation industry.
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 vendors in the Global Air Cargo Container Market include Nordisk Aviation, Granger Plastics, Air Cargo Containers LLC, Royal DSM N.V, DokaSch GmbH, Zodiac AirCargo Equipment, Envirotainer, Safran Aerosystems, VRR Aviation, ACL Airshop, Unilode, CHEP, Jettainer, and Others.
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Recent Developments
In February 2023, The European Union Aviation Safety Agency has approved VRR's collapsible air cargo container for use. The collapsible AAX has the same shape capacity and durability as the standard AAX and was created to address the world's ULD imbalance by allowing carriers to transport more empty containers on a return flight.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Air Cargo Container Market based on the below-mentioned segments:
Global Air Cargo Container Market, By Container Type
- Refrigerated
- Non-Refrigerated
Global Air Cargo Container Market, By Material
- Metal
- Composite
Global Air Cargo Container Market, By End-User
- New Sales
- Maintenance & Repair
Global Air Cargo Container 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
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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