The report from Market Research Future Reports studies the Air Management System Market over the trending period of 2017 to 2023, which states that the market is expanding in incremented ways as it is expected to reach a valuation of USD 6.55 billion by the year 2023. The notable CAGR at which the market is spanning to grow is 6.5%.
The market research report portrays that the next five-year prediction for the air management systems market is to be resilient with the valuable opportunities for both the existing as well as new market players. With the increasing production of aircraft coupled with rising air passenger traffic, there has been a need for the latest advancements in the air management system technologies that would be beneficial for the current market needs. New improvements such as a lightweight system, increasing aircraft upgrades to enhance customer services and experience are some of the factors that are continuously burgeoning the demand for air management systems in the aircraft industry.
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Air Management System Market Key Players:
The prominent players in the Air Management System Market are – Honeywell International Inc (U.S.), United Technologies Corporation (U.S.), Meggitt Plc (U.K.), Rockwell Collins Inc. (U.S.), Diehl Stiftung & Co. KG (Germany), Shimadzu Corporation (Japan), Liebherr Group (Switzerland), Zodiac Aerospace (France), Dukes Aerospace, Inc. (U.S.), and Aeronamic Aircraft Subsystems (Netherlands) among others.
Air Management System Market Drivers & Trends
The global air management system market is driven by high-end technologies that keep working harder in order to improve the overall aircraft performance and system experience which includes fuel efficiency, safety and reliability and more. Over the years, the entire aircraft system has transformed to incredibly to cater customers with luxury, comfort, safety and more. As air management system is one of the essential parts in the aviation industry, most of the major players are working closely with the aircraft OEMs to develop advanced systems that are addressing to the changing market requirements as well as to remain an innovative and a preferred choice in the market.
Therefore, technological enhancement in aircraft is one of the significant factors of the growth of air management systems. These systems keep performing effortlessly owing to the consistent performance of aircraft. This coherent performance assists in accurate results on account of conventional methods to the upgraded ones. With that, now there is a growing demand for a more efficient thermal management system as there has been growing use of electronics and electrical systems in the aircraft. Therefore, the heat loss from electric systems is prevented by the enhanced thermal management system on aircraft, which increases the performance. Such factor is outstandingly helping the market for aircraft air management systems to surge ahead in the foreseeable future.
On the other hand, in recent time, airlines are heavily investing in electric aircraft systems to advance up fuel efficiency, reduce emission rates, and cut down maintenance costs. As it has also been seen an incredible increase in air traffic owing to increase in frequent air travels. This necessitated the need to introducing new and latest technologies in aircraft which is one of the key drivers of the market.
Air Management System Market Segmentation
In the reports by MRFR, the global air management system market has been segmented based on component, system, platform, end users and region.
Segmentation by component, this market has been categorized 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 other.
Segmentation by the system, this market has been categorized into oxygen system, fuel tank inerting system, ice protection system, engine bleed air system, cabin pressure control system, thermal management system, distributed control systems and others.
Segmentation by platform, this segment consists of fixed wing, rotary wing and other.
Segmentation by end-users, this segment consists of defense and military, aircraft and aerospace, automotive, industrial, transportation, commercial aircraft, regional aircraft, and others.
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Air Management System Market Regional Analysis
Region wise, the analysis of the air management system market has been studied for the Asia Pacific, North Americas, Europe and Rest of the World.
Among these regions, North America has gained the position to lead the largest market share in the air management system market during the forecast period owing to the swelling demand for air passenger traffic and new aircraft. These factors are driving the air management system market exponentially with prospects as well.
Then comes the European region, which is also showing a positive sign towards the air management system market. Whereas, in Asia-Pacific region countries like China, Japan and India have shown considerably larger share in the air management system market but will be growing fast in the years to come.
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