The global unit load device market is expected to gain momentum by reaching USD 2.67 billion by 2027 while exhibiting a CAGR of 4.38% between 2020 and 2027. This is attributable to the rising aviation sector and the growing adoption of advanced technologies such as the internet of things (IoT) that is likely to drive the demand for innovative unit load devices across the globe. Fortune Business Insights, in its latest report, titled, “Unit Load Device Market Size, Share & COVID-19 Impact Analysis, By Product Type (LD 3 Container, LD 6 Container, and LD 11 Container, M 1 Container, Pallets, and Others), By Application (Civil Air Transport, Cargo Air Transport, and Others), By Material Type (Composite, Metal, and Others), By Container Type (Normal Container, Cold Container, and Others) and Regional Forecast, 2020-2027.”, mentions that the market stood at USD 2.15 billion in 2019 and is projected to exhibit a CAGR of 4.38% between 2020 and 2027.

Suspended Operations across Aerospace Industry to Affect Growth amid COVID-19

The lockdown announced by government agencies across the globe has led to the suspension of several industrial activities globally. The aerospace industry is going through an economic downturn due to the suspension of manufacturing activities and the ban on international traveling to contain the widespread effect of the global pandemic. This is expected to affect the growth of the market in the near future. However, several companies such as CSafe Global, Cargo Composites, and ACL AIRSHOP have restarted their operational activity to provide efficient ULD solutions to propel the market growth during the forecast period.

A ULD is either an aircraft container or a pallet that is widely adopted across the aviation sector to hold the cargo and baggage during a flight. ULDs allow larger quantities of baggage to be bundled in a single unit and aids in saving the time and effort of the ground crew. Additionally, each ULD consists of its packaging list to track its contents.

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Growing Adoption of IoT-enabled ULDs to Promote Growth

Advanced technologies such as the internet of things (IoT) provide a platform for the implementation of agile infrastructure. This enables the cargo companies to accelerate the cargo loading and unloading operations. In addition to this, the cargo assigned to the unit load device can be tracked accurately due to this technology that significantly saves time and effort of the ground staff while further preventing delayed flights. The rising aviation sector further fuels the demand for lightweight ULDs that have the lowest tare weight and showcase the highest strength-to-weight performance during cargo operations. Therefore, these factors are likely to boost the global unit load devices market growth during the forecast period.

SEGMENTATION:

Cold Container Segment to Hold a Significant Market Share

Based on container type, the cold container segment is expected to experience considerable growth due to the growing adoption of cold containers to deliver vital vaccines and medical aid amid the COVID-19 pandemic by the healthcare industry.

REGIONAL INSIGHTS

North America to Remain Dominant; Increasing Focus on Product Development to Feed Growth

Among all the regions, North America is expected to dominate and hold the highest position in the global unit load device market during the forecast period. This dominance is attributable to the increasing focus of established companies to develop advanced unit load device management solutions and the growing procurement of ULDs in the region. North America stood at USD 0.84 billion in 2019.

The market in Europe is anticipated to showcase exponential growth in the forthcoming years. This is ascribable to factors such as the growing adoption of advanced temperature management solutions for cold chain applications in the region between 2020 and 2027.

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COMPETITIVE LANDSCAPE

Product Innovation by Eminent Companies to Maintain Their Dominance

The global unit load device market is segmented into several companies striving to gain a competitive edge over their rivals and further strengthen their positions. They are focusing on introducing innovative ULDs to cater to the growing demand from aviation, logistics, and healthcare sectors. Moreover, the adoption of organic and inorganic strategies by other key players to maintain their presence is expected to bode well for the growth of the global marketplace.

Industry Development:

  • March 2020: VRR unveils an updated design of its inflatable AKE container designed to increase the efficiency of the air cargo transportation services globally. The container, according to the company, increases the capacity utilization of the baggage and luggage services.

List of the Companies Profiled in the Global Market:

  • ACL AIRSHOP (The U.S.)
  • Brambles Group (Australia)
  • Cargo Composites (The U.S.)
  • CSafe Global (The U.S.)
  • Dokasch GmbH (Germany)
  • Envirotainer AB (Sweden)
  • Nordisk Aviation Products AS (Norway)
  • Palnet GmbH Air Cargo Products (Germany)
  • Satco, Inc. (The U.S.)
  • TransDigm Group Incorporated (The U.S.)
  • VRR Aviation (The Netherland)
  • Zodiac Aerospace (France)

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By Emelia Murison

Emelia Murison is a freelance writer and editor with a passion for innovation and technology. She covers breaking industry news, #SpaceForGood, and product reviews for the group. She also provides copywriting services to startups around the world – one of which introduced her to the world of Aerospace.