Air Management System Market Size, Sales, Revenue and Regional Forecast To 2027
Posted by sneha patil on February 17th, 2022
The global air management system market is expanding at an incremental pace and is expected to reach a valuation of USD 6.55 Bn by the end of the forecast period of 2017-2023, reveals Market Research Future (MRFR) in a minutely analyzed research report. Air management systems are essential to maintaining the ambiance on board as they supply air to different parts of the aircraft and perform functions such as ventilation, fire suppression, smoke detection, etc. Airlines are increasingly emphasizing on the improvement of comfort and convenience which also makes them invest in procurement and upgradation of aircraft which, in turn, propels the growth of the market. Airlines are heavily investing in electric aircraft systems to improve fuel efficiency, reduce emission rates, and cut down on maintenance costs. There has been a significant increase in air traffic across the world owing to more air travels and also frequent business travel. This necessitates the need for the latest technologies in aircraft which is a primary driver of the market. Need for safety in operations of the aircraft such as thermal management due to rising heat loads also contributes to the increased demand for air management systems. These factors in combination will help the global Air Management System Market Size achieve a CAGR of 6.5% over the forecast period of 2017-2023.
The global air management system market has been segmented based on component, system, platform, and end users. By component, the market has been segmented into Sensors, Valves, Condenser and Evaporator, Air Cycle Machines, Heat Exchangers, Air Separator Modules, Air Mixers, Onboard Oxygen Generation System, Control and Monitoring Electronic units, and others. The sensor segment is expected to witness the highest growth over the forecast period due to the need for various parameters such as density, the thickness of ice, temperature in aircraft. By system, the market has been segmented into Oxygen System, Fuel Tank Inserting System, Ice Protection System, Engine Bleed Air System, Cabin Pressure Control System, Thermal Management System, Distributed Control Systems, and Others. By platform, the market has been segmented fixed wing, rotary wing, and others. By end-users, the market has been segmented into Defense and Military, Aircraft and Aerospace, Automotive, Industrial, Transportation, Commercial Aircraft, Regional Aircraft, and Others.
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The key players operating in the global air management system market include Honeywell International Inc (U.S.), Meggitt Plc (U.K.), Diehl Stiftung & Co. KG (Germany), Liebherr Group (Switzerland), Dukes Aerospace, Inc. (U.S.), United Technologies Corporation (U.S.), Rockwell Collins Inc. (U.S.), Shimadzu Corporation (Japan), Zodiac Aerospace (France), and Aeronamic Aircraft Subsystems (Netherlands) among others.
The global air management system market spans across the regions of North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). North America is projected to lead the global air management system market due to increasing demand for passenger traffic and new aircraft and the presence of major players in the region. Europe market is also expected to show positive growth curve over the forecast period. Countries like India, Japan, and China will help the APAC market to achieve a relatively fast growth over the forecast period.
In July 2018, Boeing announced the creation of a new organization named Boeing NeXt where aerospace researchers and the company will work in conjunction to develop a next-generation, blockchain-based air traffic management system for piloted and autonomous systems.
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About the Authorsneha patil
Joined: December 28th, 2020
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