Air Management System Market Worth $8.80 Billion by 2028 - Exclusive Report by The Insight Partners
Air Management System Market is growing at a CAGR of 6.7% from 2021 to 2028.
Pune, India, Nov. 03, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Air Management System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component (On-Board Oxygen Generation System, Sensors, Condenser & Evaporator, Air Cycle Machines, Control & Monitoring Electronics Units, and Others), System (Thermal Management System, Ice Protection System, Cabin Pressure Control System, Fuel Tank Inerting System, Oxygen System, and Engine Bleed Air System), Platform (Fixed Wing and Rotary Wing) , and Geography,” the market is projected to reach US$ 8.80 billion by 2028 from US$ 5.60 billion in 2021; it is expected to register a CAGR of 6.7% during 2021–2028.
Download Sample PDF Brochure at https://www.theinsightpartners.com/sample/TIPAD00002148
Air Management System Market: Competitive Landscape and Key Developments
Collins Aerospace (Raytheon Technologies), Diehl Stiftung and Co. Kg, Honeywell International Inc., Liebherr-International Deutschland GmbH, Meggitt Plc, Parker Hannifin Corporation, Shimadzu Corporation, Safran, AMETEK Inc., and Boyd Corporation are among the key players profiled during the global air management system market study. In addition to these players, several other essential market players were also studied and analyzed to get a holistic view of the market and its ecosystem.
In 2021, Meggitt PLC signed an agreement with China Southern Airlines Group to supply Meggitt Engine Sensors and heat exchangers wherein China Southern Airlines Group will house a pool of Meggitt engine sensors and heat exchangers to dispatch to customers directly in case of an AOG incident, enabling a faster return to service for local Chinese airline customers.
In 2021, Liebherr designed and manufactured new air management system and entered into service for ASL Airlines, Ireland, on behalf of FedEx during first commence flight of ATR 42/72 aircraft family.
Global Air Management System Market Scope:
Market Size Value in USD 5.60 Billion in 2021
Market Size Value by USD 8.80 Billion by 2028
Growth rate CAGR of 6.7% from 2021 to 2028
Forecast Period 2021-2028
Base Year 2021
Segments covered Component, System, Platform
Regional scope North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America.
Country scope Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
New General Aviation Aircraft Deliveries Generating Demand for New Instalments Propel Market Growth
The procurement of general aviation aircraft is increasing at a rapid pace worldwide. This is due to the rising demand for charter operations for applications such as business trips, travel and tourism, search and rescue, healthcare emergencies, and personalized trips. Several charter airline operators are expanding their service lines by adding newer routes. Along with this, the growing need for non-scheduled business travel compels them to add new aircraft to their existing fleets, propelling the demand for new general aviation models and air management systems. For instance, a few charter aviation vendors have witnessed a rise in their revenues during the COVID-19 pandemic. For instance, in 2021, Club One, a chartered air services provider company in India, announced that it ended 2020 better than 2019 with a 10% increase in business, despite the loss during the lockdown period. The company is expected to retain this trend in 2021 as well due to the unavailability of regular international and domestic flight services and preference for safety, health, and hygiene, coupled with the need to adhere to social distancing norms during domestic travel in various regions.
Air Management System Market: Platform Overview
Avionics generally involve flights with on-board oxygen generation systems, sensors, condensers and evaporators, air cycle machines, control and monitoring electronic units, etc. In 2020, the air cycle machines segment dominated the market owing to multiple installations in an aircraft, as it is an integral part of air conditioning systems or thermal management systems. However, the sensors segment is expected to register the highest CAGR in the market during the forecast period owing to the growing adoption of a wide range of sensors. Air cycle machines are among the crucial components of the environment control units as they function as a refrigerant component in the system. It is most widely used in gas turbine-powered aircraft. The projected market growth of this segment is mainly due to the practice of deploying at least 2 or 3 air cycle machines on single aircraft. Air cycle machine is an integral part of air conditioning systems that are directly related to the thermal management function. The growing production and deliveries of gas turbine-powered aircraft are expected to be one of the major factors aiding the growth of the global air management system market for air cycle machine segment during the forecast period.
Order a Copy of this Report at: https://www.theinsightpartners.com/buy/TIPAD00002148
One of the major concerns across the aviation sector is environmental emissions as the global aviation industry accounts for ~2.5% of the global carbon emissions, causing environmental pollution. Several vendors and aviation research organizations have been developing advanced power-efficient and low-emission aircraft models, including hybrid electric and fully electric aircraft. Electric aircraft systems are powered by one or more electric motors that drive the propellers. Electricity may be supplied by various methods—the most common being batteries that generate a lot of heat-load within aircraft bodies. Moreover, the rising use of electronics and electrical systems in aircraft is demanding more efficient thermal management systems. The increased adoption of electronics and electrical systems in aircraft units results in increased heat loss, which hampers the performances of different systems in the units. The incorporation of improved thermal management systems reduces heat loss and enhances the overall performance of the systems.
Furthermore, deliveries of new aircraft and demand for the replacement of air management systems in older aircraft fleets are key factors driving the air management system market growth. In addition, the demand for more enhanced thermal management and air supply operations is also boosting the market growth. However, the global aerospace industry has faced several challenges and an economic loss due to the onset of the COVID-19 pandemic. This has led to a decline in aircraft production and deliveries globally, which hindered the air management system market growth in 2020. Also, the entire aircraft production sector witnessed lower production volumes due to limited demand for air travel, which led to a slow growth trajectory among air management system providers in 2021.
With the outbreak of COVID-19, the production and sales of general aviation came to a sudden halt in most of the regions worldwide. The collapse of the demand side severely impacted the global aerospace sector, jeopardizing economies and reducing international trade. The air transport sector plays a critical role in economic growth and employment worldwide, and it was highly impacted by supply chain disruptions and technological challenges during the pandemic crisis, which led to poor performance of the air management system market in 2020.
In 2020, Europe and APAC held the second and third positions in the global air management system market, respectively. Europe emerged as a crucial market for air management systems in 2020, and the market in this region is expected to record a high rise during the forecast period. The region is characterized by well-developed nations such as France, Germany, the UK, and Russia that invest heavily in aviation technologies. Moreover, the presence of one of the world’s largest aircraft manufacturers, i.e., Airbus in France contributes significantly to the air management system market in Europe. The massive volume of aircraft production, coupled with the presence of a large number of component and sub-component manufacturers, is further propelling the air management system market growth in Europe.
Go through further research published by The Insight Partners:
Air Traffic Management Market*-* Global Analysis and Forecast to 2030
Air Traffic Control Market - Global Analysis and Forecast to 2030
Commercial Air Traffic Management Market - Global Analysis and Forecast to 2030
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/air-management-system-market