Asia Pacific Air Management System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (On-Board Oxygen Generation System, Sensors, Condenser & Evaporator, Air Cycle Machines, Control & Monitoring Electronics Units, and Others), System (Thermal Management System, Ice Protection System, Cabin Pressure Control System, Fuel Tank Inerting System, Oxygen System, and Engine Bleed Air System), and Platform (Fixed Wing and Rotary Wing)
The air management system market in APAC is expected to grow from US$ 1,219.99 million in 2021 to US$ 2,130.17 million by 2028; it is estimated to grow at a CAGR of 8.3% from 2021 to 2028. Innovations in aerospace technologies are witnessing constant growth worldwide. Air management systems involve many components such as oxygen systems, multiple sensors, evaporators & condensers, air cycle machines, and electronic units for control & monitoring. The adoption of smart sensors for different air management operations, such as across HVAC systems, to provide more enhanced, optimized, and premium services to the passengers and crew members is one of the market's key trends. Moreover, the adoption of smart sensors in air management systems is soaring due to the rising electrification of aircraft components, including aircraft on-board environment control systems and monitoring systems. In addition, the digitization of thermal management techniques for heat transfer applications is another major trend of the air management system market.
Furthermore, the introduction of all-electric and more electric aircraft is another trend demanding increased installations of air management system components. It is expected to aid the market growth in the near future. Some of the airliners have already ordered electric aircraft to retain their flight services for different operations such as air cargo and passenger transport. With the rising demand for charted aviation and the increasing uptake of electric aircraft for zero-emission tourism experiences, the APAC electric aircraft fleet is rising at a healthy pace. For instance, in December 2021, Embraer announced that it had received an order to deliver 60 electric airplanes to two Australian vendors. These deliveries are demanding a rising number of air management systems for the manufacturing of new electric aircraft models that include increased electronic components, thereby aiding the market growth.
Based on platform, the APAC air management system market is segmented into fixed wing and rotary wing. In 2020, the fixed wing aircraft platform dominated the market. Fixed wing aircraft jet engine powered or propeller driven that have wings that do not move and are fixed with their airframe. Fixed wing aircraft is commonly used for long travel destinations and preferred for travelling at higher altitudes compared to the rotary-wing aircraft. One of the significant advantages of the fixed wing aircraft is its ability to fly in inclement weather, such as fog, which rotary wing aircraft cannot. Similarly, fixed wing aircraft is mainly used for commercial air travel and cargo transportation operations. Fixed wing aircraft is also widely utilized for business purposes, aerial photography, aerial survey work, and sightseeing at various locations. Airbus, Boeing, Saab AB, Dassault Aviation, and Pilatus Aircraft Ltd are some of the leading market players that provide fixed wing aircrafts to various customers across the globe. Some of the most popular and largest fleet of commercial aircraft worldwide are Airbus A320, B737 (all variants), and B787. The increasing APAC air passenger traffic worldwide is another major factor driving the demand for fixed wing aircraft worldwide. Most of the fixed wing aircraft models are used for commercial air travel and take many passengers in a single flight wherein it becomes very necessary to ensure the air pressure inside and outside the aircraft in order to ensure the safety of passengers and crew members. Aircraft deliveries and expected future deliveries of different models of aircraft are expected to drive the demand for air management systems for the fixed wing aircraft segment.
The COVID-19 pandemic has not only disrupted the APAC's economy and the region's aerospace market but has also changed the customer attitude toward the sector. The region has witnessed a significant decline in air transportation. As per IATA estimates, Asia-Pacific airlines recorded a revenue decline of US$ 113 billion in 2020 compared to 2019. The reduction in air travel demand and border restrictions have resulted in the grounding of aircraft at an unprecedented scale. From an aircraft manufacturing and assembly viewpoint, China is one of the leading aerospace manufacturing countries in the region and has been one of APAC's most affected countries during Q1 and Q2 of 2020. Due to this, the production facilities have witnessed severe conditions in aircraft and component manufacturing facilities. The Airbus and Boeing manufacturing facilities in China were shut down temporarily for a longer period, which resulted in substantially lesser demand for various components and systems, including air management systems. Similarly, China's indigenous aircraft manufacturer COMAC halted its production of C919 (which accounts for a major share in the Chinese commercial aircraft fleet) during Q1 of 2020, which has negatively impacted the air management system market.
However, the aviation authorities, airlines, and aircraft OEMs foresee strong growth in the APAC aviation industry in the near future. Owing to this, several airlines are ordering and taking deliveries of newer aircraft models. This is expected to drive the demand for aircraft components among aircraft OEMs and MRO vendors.
The APAC air management system market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the APAC air management system market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC air management system market. AMETEK Inc., BOYD Corporation, Collins Aerospace, Diehl Stiftung & Co. KG, Honeywell International Inc., Liebherr-International Deutschland GmbH, Meggitt PLC, Parker Hannifin Corporation, Safran Electronics & Defense, and Shimadzu Corporation are among the key players operating in the air management system market in the region.
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