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The global unit load device market size is expected to reach USD 2.67 billion by 2027 backed by the growing demand for cold containers for transportation and logistics services that is likely to propel the demand for advanced unit load devices globally. Fortune Business Insights published this information 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.” The report further mentions that the market stood at USD 2.15 billion in 2019 and is likely to exhibit a CAGR of 4.38% between 2020 and 2027.
Unilode Signs a 7-Year Contract with Air Canada for ULD Management
In May 2020, Unilode Aviation Solutions, a global leader in outsourced ULD management, announced the renewal of its contract with Air Canada to manage and supply aviation containers and pallets for another seven-year. The partnership aims to continue Unilode’s pooled ULD management solution that has benefited Air Canada to achieve flexibility in their operations and further reduce significant overheads. Additionally, Unilode will provide its IATA Air Cargo Innovation Award-winning digitalization solution for all Air Canada’s ULD aircraft. Such initiatives by the companies are likely to favor the market growth.
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Increasing Demand for Cold Containers to Accelerate Growth
The major focus of the transportation industry is to ensure the safety of products during transit. The growing demand for technologically advanced cold containers to transport temperature-sensitive products such as perishable food, drugs, medicines, vaccines, and blood plasma is expected to boost the demand for these devices globally. Furthermore, the COVID-19 pandemic has led to an increased demand for cold containers to transport medicines and PPE kits that will favor the global unit load device market growth during the forecast period.
Contract Signing by Prominent Companies to Aid Growth
The global market is consolidated by major companies focusing on maintaining a stronghold by signing lucrative contracts to provide innovative unit load device management solutions. Additionally, the adoption of strategies such as merger and acquisition, collaboration, and facility expansion by other key players will contribute to market growth.
List of the Companies Profiled in the Global Market:
Further Report Findings:
Table of Segmentation:
Value (USD Billion)
By Product Type
By Material Type
By Container Type