Air Cargo Container Market Growth by Emerging Trends Analysis and Forecasts 2021-2027
The air cargo container market analysis document represents a detailed collection of prioritized market definitions, industry scope and reach, and pivotal industry insights. Information about the many pitfalls of the market as well as the frequent challenges encountered by core industry players have been summarized in the report. That apart, the document also endorses details about the numerous driving parameters impacting the revenue landscape of this vertical.
Rising preference for lightweight materials is anticipated to add significant impetus to the global air cargo container market expansion over the estimated timeframe. The market is highly consolidated in nature, with limited participants holding a major share in the industry.
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Growing expenditure for the development of military infrastructure by the governments across major countries is fueling the demand for military aircraft, which is in turn fostering the demand for air cargo containers. For instance, in 2020, India announced signing a $2.5-billion worth contract to supply 56 medium transport aircraft to the Indian Air Force. Such investments are complementing the business growth. Reportedly, military aircraft segment is projected to witness a robust CAGR of 2.6% through 2027.
Proliferation of frozen food and pharmaceutical shipments around the world has increased the adoption of air cargo containers over the past few years. Due to the worldwide COVID-19 crisis, demand for vaccines and other required medications have tremendously increased which in turn has urged the need for faster transportation. Air freight, in this regard is playing the key role. Citing an instance, in 2021, SkyCell announced its partnership with Korean Air Cargo. This partnership apparently comes as a result of the rise in demand for Covid-19 treatments and vaccines this year. As cold-chain maintenance for the transportation of vaccine is a major challenge for the logistics industry, this new partnership is expected to ensure that the lifesaving medicines reach patients on time.
As air cargo shipments are getting higher preference due to fast delivery, reliable arrival and departure times, high level of security, lesser damage and less warehousing, demand for air cargo containers has enormously increased. In addition, with increasing number of civil aircraft fleet, sales of the ULD containers is rising further. Considering these factors, new sales segment in air cargo container market is expected to register substantial gains over the forthcoming years.
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On the regional front, the North America air cargo container market will register remuneration of over $450 million by 2027, which can be credited to the robust availability of airlines and demand for the next-gen air cargo containers in the U.S.
Key air cargo container market players are implementing strategies such as mergers & acquisitions, new product launches, and business expansions to gain a competitive edge over rivals in the global market. To illustrate, in September 2020, Emirates SkyCargo expanded its Cool Chain portfolio through the launch of ‘White Container’, a cost-effective and internally developed ground as well as air cargo container, designed as an ideal intermediate temperature control solution for generic healthcare products & food perishables.
Major Key Points from Table of Content:
Chapter 5 Air Cargo Container Market, By Container Type
5.1 Market by container type insights
5.2 Refrigerated
5.2.1 Market estimates & forecast, 2017 – 2027
5.2.2 Market estimates & forecast by region, 2017 – 2027
5.3 Non-refrigerated
5.3.1 Market estimates & forecast, 2017 – 2027
5.3.2 Market estimates & forecast by region, 2017 – 2027
Chapter 6 Air Cargo Container Market, By Material
6.1 Market by material insights
6.2 Metal
6.2.1 Market estimates & forecast, 2017 – 2027
6.2.2 Market estimates & forecast by region, 2017 – 2027
6.3 Composite
6.3.1 Market estimates & forecast, 2017 – 2027
6.3.2 Market estimates & forecast by region, 2017 – 2027
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