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Contracts was the Key Strategy Adopted by the Market Players to Grow in the Unit Load Device Market
The unit load device market covers all types of aircraft containers and pallets, which carry passenger luggage, mails, and goods. These containers are specifically designed and manufactured for air transportation. The unit load device market is estimated to be USD 1.64 Billion in 2016 and is projected to reach USD 2.02 Billion by 2021, at a CAGR of 4.28% during the forecast period. In recent years, increase in air passenger traffic and air cargo have resulted in increased demand for unit load devices.
Key manufacturers in the unit load device market are Nordisk Aviation Products AS (Norway), Zodiac Aerospace (France), VRR Aviation (The Netherlands), DoKaSch GmbH (Germany), and Satco, Inc. (U.S.), among others. These companies accounted for a major share of the unit load device market and have their manufacturing facilities in key regions, such as North America, Europe, Asia-Pacific, and RoW, supported with strong aftersales network. These companies adopted strategies, such as contracts, new product launches, and agreements, among others, to increase their market shares.
Contracts is one of the leading strategies adopted by manufacturers of unit load devices. However, collaborations is one of the least followed strategies in the market. The strategy of contracts was adopted the most followed by the strategy of mergers & acquisitions.
Major market players from Europe are VRR Aviation (Netherlands) and Zodiac Aerospace (France). These players adopted the strategy of new product launches to grow in the unit load device market. Launching of new products helped these companies to increase their market shares.
For instance, the VRR Aviation introduced a new HMJ Horse Container for Lufthansa Airlines (Germany) and Jettainer (Germany) for a convenient and safe transportation of livestock. In June 2016, Zodiac Aerospace (France) introduced its Herculight series of lightweight cargo containers made of the Endumax material. This material increases the strength and impact resistance of cargo containers. The new Herculight series of cargo containers is lightweight and help in reducing fuel cost for airlines.
Unit Load Device Market by Product Type (Lower Deck 3, Lower Deck 6, Lower Deck 11, M 1, Pallets), Application (Commercial, Cargo), Material Type (Metal, Composite), Container Type (Normal, Cold) and Region - Global Forecast to 2021
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