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Air Management System Market Set for Market Expansion Fueled by Growth in Air Traffic Fuels
Air Management System Market
As per the report, the air management system market size has grown strongly in recent years. It will grow from $5.72 billion in 2023 to $6.15 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The air management system market size is expected to see strong growth in the next few years. It will grow to $8.07 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
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Sustained Growth In Air Traffic Fuels Expansion Of The Air Management System Market
The increasing air traffic is expected to propel the growth of the air management system market going forward. Air traffic refers to aircraft movement through the airspace, including take-off, landing, and navigation of planes, helicopters, and other aerial vehicles. Air traffic controllers utilize air management systems to monitor and regulate aircraft movements. These systems give real-time information on aircraft locations, altitude, speed, and other pertinent data. For instance, in March 2023, according to a report published by the Bureau of Transportation Statistics, a US-based government agency, in 2022, US airlines transported 194 million more passengers than in 2021, a 30% increase year on year. Additionally, from January to December 2022, airlines in the United States carried 853 million passengers, up from 658 million in 2021. Therefore, increasing air traffic is driving the growth of the air management market.
Advancements In Technology Drive Growth In The Air Management System Market
Technology advancements are a key trend gaining popularity in the air management system market. Major companies operating in the air management market are developing new technologies to sustain their position in the market. For instance, in March 2021, Altitude Angel, a UK-based aerospace company, launched GuardianUTM Enterprise, a next-generation airspace management solution technology. This technology provides a unified view of the airspace surrounding airports. It provides a 'one-stop' solution for airports to begin designing and providing UTM Services for drone companies and operators, leveraging Altitude Angel's proven digital authorization and flight management technology.
The air management system market covered in this report is segmented -
1) By System: Thermal Management System, Engine Bleed Air System, Oxygen Systems, Fuel Tank Interting Systems, Cabin Pressure Control System, Ice Protection System
2) By Platform: Fixed Wing, Rotary Wing
3) By Aircraft: Narrow Body,Wide Body
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Major companies operating in the air management system market report are Raytheon Technologies Corporation, United Technologies Corp., The Boeing Company, Lockheed Martin Corporation, Northrop Grumman Corporation, Honeywell International Inc., Air Liquide S.A., GE Aviation, Safran SA, Eaton Corporation, Rolls Royce PLC, Parker Hannifin Corporation, Liebherr-International AG, Air Products Membrane Solutions, SMC Corporation, Bombardier Inc., Rockwell Collins, Diehl Aviation, Emerson Electric Co., Shimadzu Corporation, Bell Helicopter Inc., Zodiac Aerospace, HEICO, Meggit PLC, Kelvion, Barnes Aerospace, Dukes Aerospace Inc., Aeronamic Aircraft Subsystems, Elmelin, Airborne ECS.
Contents of the report:
1. Executive Summary
2. Air Management System Market Report Structure
3. Air Management System Market Trends And Strategies
4. Air Management System Market - Macro Economic Scenario
5. Air Management System Market Size And Growth
…..
27. Air Management System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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