Global Market for Air Cargo Containers
Dublin, April 27, 2022 (GLOBE NEWSWIRE) -- The "Air Cargo Containers - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Air Cargo Containers Market to Reach $302.8 Million by 2026
Amid the COVID-19 crisis, the global market for Air Cargo Containers estimated at US$233.9 Million in the year 2020, is projected to reach a revised size of US$302.8 Million by 2026, growing at a CAGR of 4.5% over the analysis period.
There are more than 900,000 ULDs with an estimated value of US$1 billion, which are covered under IATA regulations. These containers are broadly segregated into air cargo pallets and lower deck or box type containers. ULD pallets are made of rugged aluminum sheets and feature rims for locking into cargo net lugs.
On the other hand, ULD containers, also referred to as pods or cans, represent closed containers that are made of either aluminum or a combination of Lexan and aluminum. Some of these containers also feature inbuilt refrigeration units for carrying temperature-sensitive products. A ULD comes with a unique ULD number for its identification. While the three-lettered prefix signifies the type and characteristics of a ULD, the four or five digit serial number differentiates it from other units. The last two characters denote the owner of the container or pallet.
LD-3, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach US$238.1 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the LD-11 segment is readjusted to a revised 3.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $64 Million in 2021, While China is Forecast to Reach $49.9 Million by 2026
The Air Cargo Containers market in the U.S. is estimated at US$64 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$49.9 Million by the year 2026 trailing a CAGR of 6.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.
The market is expected to be driven by continuous surge in cargo traffic due to of expansion of the electronic, e-commerce and pharmaceutical industries coupled with strong demand for high priority, high-speed and visibility services. One of the prominent factors to drive the future market growth is strong focus on accelerating delivery times.
Major events conducted by leading e-commerce portals such as Big billion days and Single`s day are pushing the demand for speedy delivery. On the other hand, pharmaceutical players require a faster transport option for temperature-sensitive products, mainly vaccines. Moreover, evolution of the supply chain along with temperature control regulations specified by the International Air Transport Association (IATA) for dealing with transportation and handling issues related to pharmaceutical and healthcare products is bound to bolster the market.
These guidelines cover standards associated with temperature and time sensitive labels and acceptance checklist for goods to reduce the chances of mishandling. The market growth is also facilitated by advances in container technology and development of more durable and lightweight containers. Increasing deliveries through aircraft and adoption of wide-body aircraft are anticipated to further push air cargo container demand in the aviation industry.
The market growth is likely to be fuelled by increasing use of lower deck containers in freighter and wide-body passenger aircraft along with availability of custom lower deck containers for specialized aircraft. These factors are bound to create a perfect ground for overall expansion of the global air cargo container market in the coming years.
LD-6 Segment to Reach $14.7 Billion by 2026
In the global LD-6 segment, USA, Canada, Japan, China and Europe will drive the 3.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$8.7 Million in the year 2020 will reach a projected size of US$11.3 Million by the close of the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
COVID-19 Pandemic Severely Disrupts Global Freight Transportation and Cargo Containers Industry
Regional Market Review
Logistics Industry Bears the Brunt of COVID-19
COVID-19 Disrupts the Airfreight Sector
Air Cargo Containers: Offering Means for Optimal, Faster Delivery of Goods by Air
Container Compatibility with Aircraft
Cargo Aircraft Types
Surge in Cargo Traffic to Allow Global Air Cargo Containers Market to Experience Long Term Growth
Need to Transport Goods Faster Impels Market Growth
Gains for Pharmaceutical Logistics to Push Growth
Demand for Temperature-Controlled Containers Creates New Avenues
Expansion of Commercial Airlines & Need to Transport Military Goods Fuel Growth
Economic Slowdown & Trade Protectionism Hinders Growth
LD-3 Retains Position as Most Popular Container Type
Metals Remain Primary Material Type Segment
Commercial Aircraft Containers Application Segment to Experience Fastest Growth Rate
Wide-Body Aircraft Segment to Command Major Share
Regional Analysis: Increasing Trade Activity Makes Asia-Pacific an Exploding Air Cargo Containers Market
Air Freight Industry Heading towards Healthy Demand amid Tightening Capacity
Global Air Cargo Containers Market Inches towards Fierce Competition
Air cargo Container Owners Face Intense Pressure from Rising Outbound Cargo Rates
Companies Resorting to Technological Innovations for Smarter and Lighter ULDs
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 24 Featured)
ACL Airshop LLC
DoKaSch Temperature Solutions GmbH
Granger Industries, Inc.
Nordisk Aviation Products AS
PalNet GmbH Air Cargo Products
Vinyl Technology Inc.
3. MARKET TRENDS & DRIVERS
Containers Industry to Continue Feeling Heat from COVID-19 Crisis in 2021
Freight as Blessing Enables Air cargo Demand to Surpass Capacity amid COVID-19
Stable Commercial Aviation Outlook Signals Long Term Growth Opportunities for Air Cargo Containers Market
Converting Airlines and Sharing Space to Address Demand
Prominent Trends Altering and Governing Air Freight Logistics Landscape
Air Cargo Industry Undergoes Significant Transformation with New Approaches
Digitization Transforming the Air Freight Industry
Big Data Analytics Gains Importance in Freight Management
ULDs: The Unseen Backbone of Air Cargo
Key Advancements in ULD Tracking Technologies
Air Cargo Industry Focuses on Developing and Manufacturing Lightweight ULDs
Real-time Tracking: A Boon for Logistics Providers
Major Trends Influencing Air Freight of Pharmaceutical Products
Distribution of Potential COVID-19 Vaccine to Amplify Air cargo Containers Demand
Challenges for Growth of Air Cargo
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/kjnvuq
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