Europe Air Management System Market is expected to reach US$ 2,665.33 million by 2028

PRESS RELEASE BY The Insight Partners 10 Mar 2022

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Thermal Management System Segment to Dominate Europe Air management system Market during 2020–2028      

According to The Insight Partners market research study on “Europe Air management system Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, System and Platform” is expected to reach US$ 2665.33 million by 2028 from 1638.85 US$ million in 2021. The market is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The report provides trends prevailing in the Europe air management system market along with the drivers and restraints pertaining to the market growth. Aviation retrofit & upgrades at high demand is the major factor driving the growth of the Europe air management system market. However, issues associated with high lifespan of air management systems hinders the growth of Europe air management system market.

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.

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.

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 leading companies in the Europe air management system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Collins Aerospace signed a partnership agreement with Ethiopian of $500 Million for 25 years. This agreement covers the maintenance of heat exchangers, air management system, & fuel metering units on 60 De Havilland Canada Dash 8-400 turboprops.

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