Market Introduction
The air management system market in Europe is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. France and Russia are the largest aircraft manufacturing countries in Europe. The aerospace industry is one the largest industry, which contributes significantly to the GDP of Europe. Factor such as which high GDP per capita is majorly attributed for air travel being the most preferred means of travel among masses. Further, the presence of favorable economic and robust technological infrastructure conditions has paved the way for the aerospace industry to flourish in Europe.
The region houses manufacturing facilities of some leading aircraft manufacturers, such as Dassault Aviation, Airbus, Daher, Piaggio Aerospace, Pipistrel, Sonaca Aircraft, Extra Aircraft, Flight Design GmbH, TECNAM Aircraft, Hélicoptères Guimbal, and Leonardo. Such leading players have paved the path for high civil and military aircraft and helicopters uptake. As per the General Aviation Aircraft Shipment Report, in 2018, 2019, and 2020, the general aviation shipments were 494, 667, and 618, respectively. The existence of numerous aircraft manufacturers in Europe is one of the key driving factors for the growth of the air management system market.
With the COVID-19 outbreak, the production and sales of air management systems came to a sudden halt in most of Europe. The collapse of the demand side severely impacted the EU aerospace sector, thereby putting the economies in deep crisis and reduced international trade. The air transport sector plays an important role in economic growth and employment in many European countries, which were strongly impacted by supply chain disruptions and technological challenges. The European aerospace industry began to witness airspace inefficiencies, activity delays, and a declining number of flights with the initial spread of COVID-19 in the region. The global passenger volume contracted by 60.5%, and the total cost of infrastructure declined by 45.4% in 2020. This reduced demand has severely impacted the regional aviation market and affected the aircraft component manufacturers, including air management systems vendors, in building and maintaining airliners, parts suppliers, and catering. The Europe aerospace industry is anticipated to recover gradually due to a slower economic recovery and the importance of international services.
However, Airbus—the European aircraft manufacturing giant—foresees faster recovery of the aviation industry and aircraft manufacturing. According to Airbus, the global and European aviation industry is expected to reach pre-COVID levels between 2023 and 2025. The European general aviation industry is expected to surpass its pre-COVID levels by 2022. However, according to a market research study, the European air management system market has witnessed a decline of nearly 31% in 2020 which is expected to come back to 2019 levels by the end of Q2 2026.
Market Overview and Dynamics
The air management system market in Europe is expected to grow from US$ 1,638.85 million in 2021 to US$ 2,665.33 million by 2028; it is estimated to grow at a CAGR of 7.2% from 2021 to 2028. The airlines in the European countries, irrespective of full service or low-cost airlines, are facing extreme pressure for air travel. This is influencing the companies to procure a high number of aircraft, thereby contributing to the growth of the air management system market. Moreover, growing air travel and increasing government budgets for military aircraft and helicopters have stimulated the MRO services, significantly boosting market players' revenue stream in Europe.
Key Market Segments
Europe air management system market is segmented into component, system, platform, and country. Based on components, the Europe air management system market is segmented into on-board oxygen generation system, sensors, condenser and evaporator, air cycle machines, control and monitoring electronic units, and others. In 2020, air cycle machines segment dominated the market. Based on system, the Europe 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. In 2020, thermal management system accounted for the largest share in the Europe air management system market. Based on the platform, the Europe air management system market is segmented into fixed wing and rotary wing. In 2020, fixed wing aircraft platform dominated the market. Based on country, the Europe air management system market is segmented into France, Germany, Italy, UK, Russia, and rest of Europe. France held the largest market share in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the air management system market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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.
Reasons to buy report
Europe Air Management System Market Segmentation
Europe Air Management System Market - By Component
Europe Air Management System Market - By System
Europe Air Management System Market - By Platform
Europe Air Management System Market - By Country
Europe Air Management System Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,638.85 Million |
| Market Size by 2028 | US$ 2,665.33 Million |
| CAGR (2021 - 2028) | 7.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Air Management System Market is valued at US$ 1,638.85 Million in 2021, it is projected to reach US$ 2,665.33 Million by 2028.
As per our report Europe Air Management System Market, the market size is valued at US$ 1,638.85 Million in 2021, projecting it to reach US$ 2,665.33 Million by 2028. This translates to a CAGR of approximately 7.2% during the forecast period.
The Europe Air Management System Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Air Management System Market report:
The Europe Air Management System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Air Management System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Air Management System Market value chain can benefit from the information contained in a comprehensive market report.
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