Air Cargo Unit Load Device Market is likely to grow at a healthy CAGR of 5.4% over the next five years

Launching announcement of a new research report on Air Cargo Unit Load Device Market which is projected to reach US$ 382.3 million in 2022- forecasted by Stratview Research. The study provides an in-depth analysis by Device Type (Containers and Pallets), by Product Type (LD3, LD 6, LD11, M1, PMC, PAG, and Others), by Material Type (Composites, Metals, and Others), By Deck Type (Lower Deck and Main Deck), by Sales Type (ULD Manufacturing and ULD Repair), by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, and Military Aircraft), by Application Type (Passenger Aircraft and Freighter Aircraft), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017-2022.

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Air Cargo Unit Load Device (ULD) Market: Highlights

The air cargo ULD market was valued at US$ 279.4 million in 2016 and is likely to grow at a healthy CAGR of 5.4% over the next five years to reach US$ 382.3 million in 2022. Growing cargo traffic (freight tonne kilometers) owing to accelerating urbanization and increasing disposable income, increasing deliveries of commercial aircraft, increasing demand for lightweight ULD, large ULD fleet size, and an advancement in the technology are some of the major growth drivers of the market. Cargo is an essential part of the airline business today. It contributed roughly 9% of the airlines' revenue which is more than twice the revenues from the first-class segment. The biggest benefit of air cargo ULD is that it allows bundling a large quantity of cargo into a single unit. This helps to minimize the airlines’ operational cost by saving the ground crew time and efforts.

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The air cargo ULD market is segmented based on device type as containers and pallets. The container is expected to remain the largest device type in the global air cargo ULD market during the forecast period. High preference over pallets, a safer device to transport cargo, and easy to load and unload are major growth drivers of the containers segment.

The airline industry is looking for lightweight containers with the prime focus to enhance fuel efficiency and reduce carbon emissions. In the last decade, the industry has noticed remarkable research and development activities related to the light-weighting containers. Many companies have succeeded in developing lightweight containers by forming strategic alliances with industry stakeholders. The key ULD management companies are opting composite-made containers by replacing their heavy-weight containers. The momentum of lightweight containers does not extend to pallets. Some companies developed composite pallets to reduce the overall weight but they could not offer other required properties and performance, such as durability. Composite pallets have higher damage rate than conventional pallets.

The air cargo ULD are segmented based on product type as LD3, LD6, LD11, M1, PMC, PAG, and Others. There are several types of ULD used on the passenger, cargo, and military aircraft. The selection of ULD is dependent on the type of aircraft, nature of goods, airline requirements, and the combination of the unit load device (ULDs). LD3 is the most widely preferred ULD type on both the passenger and cargo aircraft and is highly compatible with Boeing and Airbus wide-body aircraft, such as B747, B767, B777, B787, A330, A350XWB, and A380. LD3 can also be interchangeably used by replacing another container type.

Based on the deck type, the lower deck is projected to remain the largest segment of air cargo ULD market during the forecast period, driven by the usage in both the passenger and freighter aircraft. Passenger aircraft uses mainly lower hold for ULD whereas freighter aircraft uses both the main deck and lower hold for ULD.

Based on the material type, composites-based air cargo ULD is likely to experience the highest growth during the forecast period. The increasing demand for lightweight containers to increase the fuel efficiency is the major driver of the segment. High durability and increased life of containers are additional growth drivers of the segment. Composites-based containers are about 20% to 40% lighter than that of aluminum-based similar sized containers.

Based on the aircraft type, wide-body aircraft is expected to remain the largest segment of air cargo ULD market during the forecast period. The high number of ULDs per aircraft, increasing the share of wide-body aircraft, and increasing demand for wide-body aircraft by cargo airlines are some of the major growth drivers of the segment. Wide-body aircraft is also expected to experience the highest growth during the same period.

The supply chain of this market comprises raw materials suppliers, panel manufacturers, ULD manufacturers, distributors, ULD management companies, and airline companies. The key air cargo ULD manufacturers are Zodiac Aerospace, Cargo Composites, Nordisk Aviation Products, VRR Aviation, and Satco Inc. Lightweight containers, a partnership with ULD management companies, and regional expansion are the key strategies adopted by the key players to gain a competitive edge in the market.

Report Features

The report provides diverse market intelligence with maximum business value.  It gives a condemnatory understanding of the market dynamics and enables strategic decision making for the existing market players as well as those willing to enter the market.  The key features include the
->industry life cycle and the supply chain analysis of the market structure.
->SWOT analysis, Porter's five forces analysis and Growth Drivers and constraints.
->Market trend and the forecast analysis.
->Forecast of the market segment trend.
->Competitive landscape and dynamics of Market share, product portfolio, product launches, etc.
->Emerging trends of attractive market segments and associated growth opportunities
->Strategic growth opportunities for the existing and new players.
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