Air Cargo Unit Load Device (ULD) Market SizeAnd Forecast:
AirCargo Unit Load Device (ULD) Market was valued at USD 310.2 Million in 2018 andis projected to grow at a CAGR of 5.50% to reach USD 473.3 Million by 2026, over the forecastperiod.
The increasing deliveries of commercial aircraft, growing demand for lightweightULDs, rising ULD fleet size, and advancements in the technology are some of themajor factors driving the market growth Moreover, the growing prominence ofinternational trade, rising demand for lightweight ULDs, and growingrequirement for cold containers are anticipated to boost the air cargo unitload device (ULD) market. The Global Air Cargo Unit Load Device (ULD)Market report provides a holistic evaluation of the market. The report offers acomprehensive analysis of key segments, trends, drivers, restraints,competitive landscape, and factors that are playing a substantial role in themarket.
GlobalAir Cargo Unit Load Device (ULD) Market Definition
Cargois an important part of the airline today. The biggest advantage of air cargoULD is that it allows bundling an outsized quantity of cargo into one unit.This helps to minimize the airline’s operational cost by saving the groundcrew’s time and efforts. It contributes roughly 9% of an airline’s revenue,which is more than twice the revenues from the first-class segment. The airlineindustry is trying to find lightweight containers with the prime focus toreinforce fuel efficiency also to reduce carbon emissions. The key ULDmanagement companies are opting for composite-made containers by substitutingtheir heavy-weight containers. The momentum of lightweight containers does notextend to pallets. Some companies have developed composite pallets to scaleback the general weight, but they might not offer other required properties andperformance, like durability. Composite pallets have a better damage rate thanconventional pallets.
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Theairline cargo ULD has two types – containers and pallets. The unit load devicesare bifurcated into various product ranges such as LD3, LD6, LD11, M1, PMC,PAG, and Others. There are several sorts of ULDs used on passenger, cargo, andmilitary aircraft. The selection of ULD depends on the sort of aircraft, natureof products, airline requirements, and therefore the combination of the unitload device (ULDs). LD3 is that the most generally preferred ULD type on bothpassengers also as cargo aircraft and is very compatible with Boeing and Airbuswidebody aircraft, like B747, B767, B777, B787, A330, A350XWB, and A380. LD3also can be interchangeably employed by replacing another container type. Theairline cargo ULD is predominantly used in civil air transport and cargo airtransport.
GlobalAir Cargo Unit Load Device (ULD) Market Overview
Thehigh number of ULDs per aircraft, increasing share of wide-body aircraft, andincreasing demand for wide-body aircraft by cargo airlines are some of themajor growth factors contributing to global demand. Moreover, increasing demandfor lightweight containers to boost fuel efficiency is a major driver of themarket. Furthermore, rising aircraft orders are boosting the demand for ULDglobally. The increasing deliveries of commercial aircraft, growing demand forlightweight ULDs, rising ULD fleet size, and advancements in the technology aresome of the major factors driving the market growth Moreover, the growingprominence of international trade, rising demand for lightweight ULDs, and growingrequirement for cold containers are anticipated to boost the air cargo unitload device (ULD) market. The growing cargo traffic (freight tonne-kilometers)owing to accelerating urbanization and increasing disposable income haspositively anticipated in propelling the growth of the global air cargo unitload device (ULD) market.
Thereare certain restraints and challenges faced which will hinder the overallmarket growth. The factors such as lack of a skilled workforce and the absenceof standards and protocols are limiting the market growth. Also, factors, suchas high repair cost of unit load devices, and stringent rules and regulationslimit the growth of this market. Besides, competing with other modes oftransportation is estimated to sluggish growth during the forecast period.Nevertheless, coping with the growing aviation industry, the advancements intechnologies, and untapped potential in emerging markets offer favorable growthopportunities.
GlobalAir Cargo Unit Load Device (ULD) Market: Segmentation Analysis
TheGlobal Air Cargo Unit Load Device (ULD) Market is segmented based onProduct, Application, and Geography.
AirCargo Unit Load Device (ULD) Market by Product
Basedon Product, the market is bifurcated into Containers and Pallets. The containersegment holds the largest market share for the forecast period. The factorsthat can be attributed to emerging technology in High preference over pallets,a safer device to transport cargo, and easy to load and unload are major growthdrivers of the containers segment.
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AirCargo Unit Load Device (ULD) Market by Application
•Civil Air Transport
• Cargo Air Transport
Basedon Application, the market is bifurcated into Civil Air Transport, Cargo AirTransport, and Others. The civil air transport segment is estimated to witnessthe highest CAGR for the forecast period. The factors that can be attributed torise in passenger traffic has led to increase in air cargo, thereby propellingthe demand for unit load devices for commercial aircraft.
AirCargo Unit Load Device (ULD) Market by Geography
• Asia Pacific
• Rest of the world
Onthe basis of regional analysis, the Global Air Cargo Unit Load Device (ULD)Market is classified into North America, Europe, Asia Pacific, and Rest of theworld. North America holds the largest market share due to the availability ofrobust technology and infrastructure development. The US is leading the countryin the market around North America, followed by Mexico and Canada. The increasein disposable income of people has resulted in rise in the number of passengerstraveling by air. This has further led to increase in cargo traffic, which has contributedto the growing demand for unit load devices in this region.
KeyPlayers In Air Cargo Unit Load Device (ULD) Market
The“Global Air Cargo Unit Load Device (ULD) Market” study report will provide avaluable insight with an emphasis on the global market. The major playersin the market are
Thecompetitive landscape section also includes key development strategies, marketshare, and market ranking analysis of the above-mentioned players globally.
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