Aircraft Freight System Sales Market Size, Share, Growth, and Industry Analysis by Type (Cargo Loading System and Internal Cargo Accessories) By Application (Fixed-Wing Aircraft and Rotaplanes) Regional Forecast From 2022 to 2028

Updated On: 15 April 2024

Aircraft Freight System Sales Market Report Overview

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The global aircraft freight system sales market size expanded rapidly in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with the aircraft freight system sales market experiencing higher-than-anticipated/lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to generate substantial revenue by 2028, exhibiting a CAGR of 6.0% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Air freight, commonly referred to as air cargo, is a means of transportation used to deliver quick supplies by scheduled or charter airlines. It can be sent anywhere in the world as items sent from vendors to buyers or consignors to consignees. Including container freight system and bulk freight system, aircraft freight system is used to carry cargo onto or off of aircraft and has the ability to fix cargo in the designated cabin space.

The primary components of a freight system are the cargo transmission device, the operating mechanism, the directing device, the mooring device, the arresting device, and the handling device, which has the ability to quickly and easily handle and fix cargos. The freight system has a degree of flexibility and can adjust to operate dependably in a variety of settings. Additionally, it is managed along the chain by several organizations with a variety of roles, including express carriers, airplane and postal operators, regulated agents, haulers, and ground handlers. Currently, air freight is helping to support economic growth on a global level.

COVID-19 Impact: Halt on Manufacturing Operations to Slower Market Growth

The unexpected COVID-19 pandemic outbreak has prompted a rise in the use of air freight services for the delivery of coronavirus vaccinations via a well-established, temperature-sensitive distribution system that uses cutting-edge tools and techniques. Air cargo transportation is regarded as the fastest and most hassle-free means of transportation, even though land and ship cargo transit remain viable possibilities. Due to the COVID-19 pandemic, aircraft freight system sales encountered many difficulties in 2020, including a decline in international trade, a decline in economic activity worldwide, and a decline in consumer confidence.

LATEST TRENDS

"Rising Popularity of Consolidated Air Freight Service to Boost Market Growth"

Non-perishable things like jewelry, apparel, and automobile components as well as perishable products like fruits, vegetables, and meats that need speedy delivery are transported via air freight. In addition, it is essential for the distribution of vaccinations thanks to a well-established system of temperature-sensitive distribution and cutting-edge tools and techniques. This is supporting the aircraft freight system sales market's expansion together with the booming aviation industry. Additionally, it typically takes days or weeks for other modes of transportation to deliver various commodities, such as rail, road, or marine. However, employing air freight to deliver goods offers a high level of security and saves time. In order to lower the weight restriction, it also requires less packaging than other modes of delivery. This is having a favorable impact on the aircraft freight system sales market growth, together with the rising popularity of consolidated air freight service

Aircraft Freight System Sales Market Segmentation

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• By Type Analysis

As per the type, the market is classified as follows: Cargo Loading System and Internal Cargo Accessories. The cargo-loading segment is the largest in the aircraft freight system sales market share.

• By Application Analysis

Based on application, the market is segmented as follows: Fixed-Wing aircraft and Rotaplanes. The Fixed-wing aircraft dominates the aircraft freight system sales market share.

DRIVING FACTORS

"Rising Demand for Air Freight Services to Facilitate Market Development"

The worldwide aircraft freight system sales market is primarily driven by the rising demand for air freight services for the speedy delivery of varied items with a high level of security and little packaging to preserve weight limitations. Longer term, traffic should increase, but air freight will become more integrated into multimodal supply chains that offer a better cost-to-time ratio. By offering a quick and dependable service for initial product delivery, air freight will also help to open up new markets. The supply of essential spare parts, high-value inputs, and sample exchange will all continue to be supported by air freight. Last but not least, air freight will become more crucial in supporting reverse logistics, such as warranty and repair services for electronics and other luxury consumer products.

"Growth in E-Commerce Sales to Promote Industry Progress"

The primary element fueling the expansion of the global aircraft freight system sales market is the rise in e-commerce sales to support the air cargo business. The growth of e-commerce sales as a result of an increase in online buyers and sellers is one of the key drivers fueling the expansion of the global aircraft freight system sales market. The growth of e-commerce is pushing the aircraft freight system sales market since online vendors need these services to deliver their goods to clients on schedule.

RESTRAINING FACTORS

"Higher Unit Cost to Hinder Market Growth"

Cost, which is typically 4-5 times more for air freight than for road freight and 12–16 times higher than for sea freight, limits demand. While the value of air cargo frequently exceeds $4.00 per kilogram, air freight prices normally vary from $1.50 to $4.50 per kilogram. Thus, commodities transported by air have high unit costs or must be delivered quickly, such as documents, medications, clothing, production samples, consumer electronics, perishable food, and seafood. They also contain some inputs for just-in-time manufacturing and emergency spare component delivery.

Aircraft Freight System Sales Market REGIONAL INSIGHTS

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"Increase in Demand to Propel Market Progress in Asia"

The greatest region in the world aircraft freight system sales market is Asia. The providers of aircraft freight system sales face new difficulties as a result of the rising demand for these services. In order to offer services at a reasonable price, airlines must concentrate on implementing fuel-efficient solutions and incorporating cutting-edge technologies. The scope and potential for the global aircraft freight system sales market are anticipated to grow significantly over the course of the forecast period as a result of stable economic growth prospects in many developed and developing economies and rising public and private investments to develop airports in underserved regions.

KEY MARKET PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• Ancra International (U.S.)
• TELAIR International (Germany)
• Collins Aerospace (U.S.)
• Kietek International (U.S.)
• Davis Aircraft Products (U.S.)
• GPI (U.S.)
• Onboard Systems (U.S.)
• CEF Industries (U.S.)
• Changsha Soperb Machinery (China)
• Cargo Systems (U.S.)

REPORT COVERAGE

The report covers overall market aspects, including market segmentation based on its type and application. The report depicts a diverse group of participants that includes the market and the potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.