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.
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. According to Boeing Commercial Market Outlook (CMO) 2021–2040, the total number of existing aircraft fleet in 2019 accounted for 25,900. It is expected to reach 43,610 by 2040. As per Airbus Market Forecast, 2021–2040, the commercial aircraft fleet is foreseen to deliver around 39,020 units of new aircraft by 2040, rising from 22,950 recorded at the beginning of 2021. However, the emergence of COVID-19 decimated the demand for aircraft in 2020, resulting in a significantly lower number of deliveries. Nonetheless, as the aviation industry reopened in the Q3 of 2020, the aircraft manufacturers have begun witnessing a rise in demand for their aircraft models.
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
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC air management system market. The APAC air management system market is expected to grow at a good CAGR during the forecast period.
APAC Air Management System Market Revenue and Forecast to 2028 (US$ Million)
APAC Air Management System Market Segmentation
APAC Air Management System Market – By Component
- On-Board Oxygen Generation System
- Sensors
- Condenser & Evaporator
- Air Cycle Machines
- Control & Monitoring Electronics Units
- Others
APAC Air Management System Market – By System
- Thermal Management System
- Ice Protection System
- Cabin Pressure Control System
- Fuel Tank Inerting System
- Oxygen System
- Engine Bleed Air System
APAC Air Management System Market – By Platform
- Fixed Wing
- Rotary Wing
APAC Air Management System Market, by Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Air Management System Market - Companies Mentioned
- 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
- Shimadzu Corporation
Asia Pacific Air Management System Market Strategic Insights
Asia Pacific Air Management System Market Report Highlights
| Report Attribute | Details |
| Market size in 2021 | US$ 1,219.99 Million |
| Market Size by 2028 | US$ 2,130.17 Million |
| CAGR (2021 - 2028) | 8.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
|
Regions and Countries Covered
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| Asia-Pacific | China, India, Japan, Australia, Rest of Asia-Pacific |
| Market leaders and key company profiles |
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Asia Pacific Air Management System Market Country and Regional Insights
