Air Management System Market Report, Opportunities by 2031
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.
Air Management System Market Analysis
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.
Air Management System Market Overview
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
Market Size Value in US$ 5607.19 million in 2021 Market Size Value by US$ 8804.88 million by 2028 Growth rate CAGR of 6.7% from 2021 to 2028. Forecast Period 2021-2028 Base Year 2021
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Air Management System Market: Strategic Insights
| Market Size Value in | US$ 5607.19 million in 2021 |
| Market Size Value by | US$ 8804.88 million by 2028 |
| Growth rate | CAGR of 6.7% from 2021 to 2028. |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Air Management System Market Drivers and Opportunities
Demand for Aviation Retrofit & Upgrades
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.
Significant Aircraft Deliveries in Future Expected to Generate Market Opportunities
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.
Air Management System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the air management system market analysis are component, system, and platform.
- Based on component, the air management system market is segmented into on-board oxygen generation system, sensors, condenser & evaporator, air cycle machines, control & monitoring electronics units, and others. The air cycle machines segment held a larger market share in 2023.
- Based on system, the air management system market is segmented into thermal management system, ice protection system, cabin pressure control system, fuel tank inerting system, oxygen system, and engine bleed air system. The thermal management system segment held a larger market share in 2023.
- Based on platform, the air management system market is segmented into fixed wing and rotary wing. The fixed wing segment held a larger market share in 2023.
Air Management System Market Share Analysis by Geography
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.
Air Management System Market Report Scope
Air Management System Market News and Recent Developments
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:
- AMETEK Singapore PTE has augmented its capabilities by investing in Airbus A350 maintenance solutions. The decision, which will provide customers in the Asia Pacific region with a regional support option for the full suite of cargo and galley heaters for the aircraft type, will be further complemented by AMETEK’s current airworthiness approvals including CAAS, CAAC, FAA, EASA, JCAB, CAAM, CAAV, and DGCA. (Source: AMETEK Singapore PTE, Press Release, Jan 2022)
- Honeywell (NYSE: HON) has introduced the next generation of its Cabin Pressure Control and Monitoring System with applications in both commercial and military aircraft. This new version of the system is all-electric, lighter-weight, and available now for business and regional aviation as well as tactical or military trainer-sized aircraft. (Source: Honeywell Internaitonal Inc, Press Release, Jan 2021)
Air Management System Market Report Coverage and Deliverables
The “Air Management System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Air management system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Air management system market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed porter’s five forces analysis
- Air management system market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the air management system market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, System and Platform.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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
Frequently Asked Questions
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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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