EIN PRESSWIRE

Air Management System Market to hit US$ 8,804.88 Million Globally by 2028 at 6.7% CAGR: The Insight Partners

NEW YORK, UNITED STATES, February 9, 2022 /EINPresswire.com/ — According to The Insight Partners study on “Air Management System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Ammunition, Accessories, and Geography,” the market is expected to reach US$ 8,804.88 million by 2028 from US$ 5,607.19 million in 2021; it is expected to register a CAGR of 6.7% during 2021–2028.

Report Coverage Details
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
No. of Pages 117
No. Tables 85
No. of Charts & Figures 83
Historical data available Yes
Segments covered Component, System and Platform.
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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North America dominated the global air management system market in 2020 owing to the robust aircraft demand, supported by huge air passenger traffic in the US and Canada. Moreover, the presence of one of the major commercial and military aircraft OEMs, i.e., Boeing, along with other general aviation aircraft manufacturers, aircraft component providers, and aftermarket players also results in significant growth of the market in this region.

Impact of COVID-19 Pandemic on North America Air management system Market Size

The pandemic has reached an unprecedented level of net losses and recovery delays in for the airline industry in North America. The aircraft industry was one of the strongest performers in the region during the pre-crisis period. Moreover, after the emergence of the latest variant of COVID-19 (Omicron), North American countries restricted their borders for flights from African countries to control its spread in the continent. Recovery in demands for commercial, military, and general aviation aircraft, along with helicopters, for different applications is anticipated to boost sales of the air management systems in the region during the forecast period.

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Based on system, the air management system market is segmented into thermal management system, ice protection system, cabin pressure control system, fuel tank inserting system, oxygen system, and engine bleed air system. The thermal management system is designed to control the air conditioning, temperature, and humidity during flight operation in order to ensure safety and comfort. An aircraft comprises many electrical and electronic components that release a lot of heat and temperature, which can cause equipment failure if not maintained properly during a flight operation. One of the major reasons behind the higher adoption of composite materials for commercial, military, and general aviation aircraft production is the greater temperature sensitivity provided by them. One of the major factors driving the market growth for the thermal management systems is increasing heat loads from expanded electronic functionality and the necessary relevance of aircraft electric system architectures during aircraft production.

The air management system market is segmented on the basis of component, system, platform, and geography. Based on component, the market is sub-segmented into on-board oxygen generation system, sensors, condenser and evaporator, air cycle machines, control and monitoring electronics units, and others. On the basis of system, the air management system market is further segmented into thermal management system, ice protection system, cabin pressure control system, fuel tank inserting system, oxygen system, and engine bleed air system. Based on platform, the market is further segmented into fixed wing and rotary wing. In terms of geography, the air management system market is primarily segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. 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 air management system market study.

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 in the global Air Management System market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In 2021, AMETEK Singapore began working with its sister company AMETEK Air technology to provide aftermarket service for A350 electrical heaters.

In 2021, Parker Hannifin Acquired LORD Corp. to create an integrated organization with strong materials science capabilities for offering electrification and aerospace product offerings that are highly complementary.

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Air Management System Market to hit US$ 8,804.88 Million Globally by 2028 at 6.7% CAGR: The Insight Partners 1