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Air Cargo Container Market revenue to exceed $1.8 Bn by 2027
- Published Date: February 26, 2021
Air Cargo Container Market size is likely to surpass USD 1.8 billion by 2027, according to a new research report by Global Market Insights Inc.
Technological advancement in the cargo sector will increase penetration of unit load device container demand owing to growing adoption of digitalization in the global transportation & logistics industry. Conventionally, the logistics sector has remained unorganized around majority part of the world, which has created a need for technologically diverse solution in the industry. It has been observed that the majority of the investment poured into the logistics sector has been related to automation, artificial intelligence, internet of things, and advanced analytics over past few years. Such trends will further enhance the tracking of cargo shipments, which will propel air cargo container market size.
High maintenance cost of an air cargo container will impose challenges for airlines and carriers around the globe. The industry faces stringent challenges from the damages of loosely handled cargo during loading & unloading activities. This further increases airline’s maintenance & repair budget and delay in goods transportation. However, the increasing usage of lightweight containers and efforts to reorganize ecosystem of containers in the aviation industry will drive product penetration.
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Passenger aircraft segment is projected to expand at 4.4% CAGR through 2027 driven by increasing fleet of passenger aircraft in service around the globe. The rising air travel passenger demand is also exceeding the growth of aircraft deliveries worldwide, which is estimated to rise the number of passenger airplanes.
Browse key industry insights spread across 170 pages with 247 market data tables & 19 figures & charts from the report, “Air Cargo Container Market Size By Aircraft (Passenger, Freighter, Military), By Container Type (Refrigerated, Non-Refrigerated), By Material (Metal, Composite), Civil Aircraft By Deck (Main, Lower [Forward Hold, Aft Hold]), By End-User (New Sales, Maintenance & Repair), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Non-refrigerated items will occupy a major chunk of the global air cargo container market revenue propelled by growing air cargo shipment of high-tech equipment, capital equipment, machinery parts, etc. In the past, more than 40% of the electronic cargo shipments was carried over by flights, which will grow at a gradual rate.
Composites materials account for a limited growth in overall market due to low popularity. The rising trend of reducing the overall weight of aircraft and enhancing fuel economy will be responsible for composite air cargo container’s growth through 2027.
Lower deck is likely to experience considerable market growth from 2021 to 2027. Lower compartment is capable of accommodating irregular or small shaped cargo, which can be equipped with shelves. The rising need for passenger aircraft will fuel industry development.
The maintenance & repair segment is poised to generate a market revenue of approximately USD 450 million in 2027. Improper handling is a major cause behind the shorter maintenance cycle of these containers.
Asia Pacific air cargo container market size is predicted to occupy more than 40% share by 2027. Growth in e-commerce and pharmaceutical industries at regional level is boosting the market expansion. Although the pandemic adversely impacted the sale of ULD containers regionally, the growing adoption of air cargo shipment of pharmaceutical drugs will drive product demand.