The air management system market size is projected to reach US$ 10.24 billion by 2031 from US$ 5.96 billion in 2023. The market is expected to register a CAGR of 7.0% during 2023–2031. Technological advancements in air management systems such as implementation of smart sensors is likely to remain a key trend in the market.
The ecosystem of the air management system market is diverse and evolving. Its stakeholders are suppliers, components, aircraft manufacturers, and end users. Leading players occupy places in various nodes of the market ecosystem. Raw material providers supply materials to component manufacturers, utilizing them to manufacture and design the final products. The final product is then supplied to aircraft manufacturers through different mediums, such as direct sales through company distributors or third-party sales through third-party distributors. Aircraft manufacturers or OEMs then integrate aircraft components into their respective aircraft models.
The air management system market comprises several well-established players wherein the top five vendors acquire about 25% and experience regular procurement of their respective products from end users. The air management system market players compete among each other on various parameters, including technology, lead-time, and pricing, among others. These parameters enhance the competitiveness among the market players and are expected to maintain a high level of competitive rivalry amongst the air management system market players.
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Air Management System Market: Strategic Insights
The presence of a large number of older commercial aviation fleets worldwide is generating the demand for retrofitting and upgrades of the existing fleet. Also, the launch of new aircraft MRO hangars and MRO bays is directly proportional to the demand for different air management systems, one of the strong catalyzers of the air management system market. In addition, the continuous investments by airliners for aircraft upgrades due to the expansion of their existing aircraft fleet is boosting the demand for air management systems globally. For instance, one of the leaders in Indian aviation, InterGlobe Aviation Ltd. (Indigo Airlines), signed a 20-year-agreement with Bangalore International Airport Limited (BIAL) in 2019 to build its second MRO facility in India. According to the company's statement, the new hangar can serve two narrow-body aircraft and an engine MRO.
The commercial aviation sector has maintained a strong fleet size over the years, with Airbus and Boeing are the two most notable aircraft manufacturers in terms of delivery statistics. The commercial aviation industry has witnessed tremendous growth in the past few years with the emergence of new low-cost carriers (LCCs) and fleet expansion strategies adopted by the full-service carriers (FSCs). Commercial aviation is foreseen to surge in the coming years due to the mounting number of air travel passengers and aircraft procurement. Moreover, the expected future deliveries of commercial and military aircraft is one of the major factors likely to generate new opportunities for market vendors in the coming years. For instance, according to the Boeing and Airbus forecasts, more than 40,800 commercial aircraft are likely to be delivered across the world during 2023-2042.
Key segments that contributed to the derivation of the air management system market analysis are component, system, and platform.
The geographic scope of the air management system market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Asia Pacific has dominated the market in 2023 followed by North America and Europe regions. Further, Asia Pacific is also likely to witness highest CAGR in the coming years. China accounted for major share in the Asia Pacific air management system market whereas India is likely to be one of the most attractive air management system market worldwide in the coming years. China has surpassed the US largest aviation market (the US) and being one of the fastest-growing aviation markets worldwide. The country is expected to foresee high demand for aircrafts over the next 20 years. For instance, according to the Airbus’ forecasts, more than 9,400 commercial aircraft are likely to be delivered in China during 2023 and 2042. Besides, increasing aircraft production number from local and foreign manufacturer, in the long run, aircraft MRO activities would shift towards the APAC region as China and South-East Asian are lined up to establish their importance as MRO centers. Companies around the world are focusing on expanding their business to China; for instance, Safran S.A. has expanded its MRO services to China and offers services on various components to the Chinese airlines. Furthermore, the country is the second-largest defense spending nation after the US. China invests substantial amounts in its defense forces which enable the air force to procure new aircraft fleets. Nonetheless, the growth in military spending and the demand for aircraft, are expected to generate new growth opportunities for the air management system market in China.
The regional trends and factors influencing the Air Management System Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Air Management System Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 5.96 Billion |
| Market Size by 2031 | US$ 10.24 Billion |
| Global CAGR (2023 - 2031) | 7.0% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Air Management System Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Air Management System Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The air management system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the air management system market are listed below:
The “Air Management System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
Asia Pacific region dominated the air management system market in 2023.
New general aviation aircraft deliveries generating demand for new installations and demand for aviation retrofit & upgrades are some of the factors driving the growth for air management system market.
Technological advancements in air management systems such as implementation of smart sensors is one of the major trends of the market.
Collins Aerospace (Raytheon TechnologiesCorporation), Diehl Stiftung & Co Kg, Honeywell International Inc, Liebherr-International Deutschland GmbH, Parker Hannifin Corporation, Shimadzu Corporation, Safran Group, AMETEK Inc, and Boyd Corporation are some of the key players profiled under the report.
The estimated value of the air management system market by 2031 would be around US$ 10.24 billion.
The air management system market is likely to register of 7.0% during 2023-2031.