A surge in the number of passenger aircrafts, the increasing
launch of new aircrafts for defense & commercial purpose, and
the continual innovation & investment in aviation safety
technologies are expected to drive the global aircraft oxygen
system market's growth during the forecast period.
WILMINGTON, Del., April 25,
2024 /PRNewswire/ -- Allied Market Research has
recently published a report, titled, "Aircraft
Oxygen System Market Size, Share, Competitive Landscape and Trend
Analysis Report by Component, by System, by Aircraft Type, by
End-Use : Global Opportunity Analysis and Industry Forecast,
2023-2032." According to the report, the global
aircraft oxygen system market generated $2.3 billion in 2022, and is anticipated to
generate $4.7 billion by 2032, rising
at a CAGR of 7.6% from 2023 to 2032.
(We are providing connected ship Industry report as per
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- 136 - Tables
- 53 - Charts
- 295 – Pages
Prime Determinants of Growth
The increasing introduction of new aircrafts for defense &
commercial purpose, a surge in the number of passenger aircrafts,
and the growing focus of aircraft maintenance are the factors
expected to drive the growth of the global aircraft oxygen system
market in the forecast period from 2023 to 2032. However, the
constrained production capacity of aircraft oxygen systems and the
regulatory compliance challenges may hamper the market growth in
the coming future. On the contrary, the rising adoption of smart
technologies in modern aircraft systems and increasing investment
in aviation safety technologies are expected to offer remunerative
opportunities for the expansion of the aircraft oxygen system
market during the forecast period.
Request Sample of the Report on Aircraft Oxygen System Market
Forecast 2032
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Report Coverage & Details:
Report
Coverage
|
Details
|
Forecast
Period
|
2023–2032
|
Base Year
|
2022
|
Market Size in
2022
|
$2.3 billion
|
Market Size in
2032
|
$4.7 billion
|
CAGR
|
7.6 %
|
No. of Pages in
Report
|
295
|
Segments
covered
|
Aircraft Type,
Component, System, End-use, and Region
|
Drivers
|
Increasing introduction
of new aircrafts for both commercial and defense
Growing focus on
aircraft maintenance
Rise in number of air
travelers
|
Opportunities
|
Growing adoption of
smart technologies in modern aircraft systems
Continual innovation
and investment in aviation safety technologies
|
Restraints
|
Constrained production
capacity of aircraft oxygen systems
|
Procure Complete Report (295 Pages PDF with Insights, Charts,
Tables, and Figures)
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Aircraft Type: Narrow Body Aircrafts Sub-segment to be the
Most Dominant by 2032
The narrow body aircrafts sub-segment accounted for the largest
global aircraft oxygen system market share of 44.3% in 2022 and is
expected to grow at the highest CAGR of 8.0% during the forecast
period. This is mainly due to its widespread usage in short to
medium-haul flights and the prevalence of popular models like the
Boeing 737 and Airbus A320 families. These aircraft types highlight
the critical role of oxygen systems in ensuring passenger safety
and align with the aviation industry's commitment to enhancing
safety standards. This demand drives the need for advanced oxygen
systems, positioning the narrow-body aircraft sub-segment as a key
driver in the market.
Component: Oxygen Storage System Sub-segment to be Most
Prominent During the Forecast Period
The oxygen storage system sub-segment accounted for the largest
market share of 48.3% in 2022 and is expected to grow at the
highest CAGR of 8.0% during the forecast period. Oxygen storage
systems' dominance arises from their reliability, efficiency, and
compact design, vital for aircraft integration where space is
limited. Utilizing advanced technology, these systems store oxygen
in compressed or liquid forms, ensuring controlled release as
required. Their compactness addresses aviation's space constraints
without compromising safety standards, emphasizing the importance
of a secure oxygen supply, particularly during critical flight
phases.
System: Passenger Oxygen System Sub-segment to be the Most
Dominant by 2032
The passenger oxygen system sub-segment accounted for the
largest global aircraft oxygen system market share of 57.7% in 2022
and is expected to hold its dominant position and rise at the
highest CAGR of 7.8% during the forecast period. One of the primary
reasons for this dominance is the system's pivotal role in ensuring
compliance with stringent aviation safety standards highlighting
its significance in prioritizing passenger safety and well-being
during emergencies, such as cabin depressurization. Additionally,
its automatic activation and rapid deployment of oxygen masks from
overhead compartments enhance emergency preparedness, minimizing
the risks associated with hypoxia and ensuring passenger comfort at
high altitudes.
End-use: Commercial Aviation Sub-segment to Flourish
Immensely During the Forecast Period
The commercial aviation sub-segment accounted for the largest
market share of 59.0% in 2022 and is expected to grow at the
highest CAGR of 8.0% during the estimated timeframe. This is mainly
because the high volume of passengers and flights within commercial
aviation necessitates efficient oxygen systems to maintain a
controlled and breathable environment at high altitudes.
Additionally, stringent safety standards and regulatory compliance
drive the demand for reliable oxygen systems to ensure passenger
safety. As a result, the commercial aviation sector's considerable
reliance on these systems influences the dynamics and demands of
the global aircraft oxygen system market.
Region: North America Market to Hold Major Market Share by
2032
The aircraft oxygen system market in the North America region accounted for the largest
share of 59.0% in 2022 and is predicted to continue to hold major
market share by 2032. This growth is mainly owing to the notable
presence of leading aircraft manufacturers, such as Boeing and
Bombardier. These companies strategically position themselves,
driving demand through continuous investment in expanding
commercial, military, and regional aircraft fleets. This proactive
approach aligns with the region's commitment to innovation in the
aviation sector. The combination of established industry players,
technological innovation, and ongoing investments solidifies
North America's pivotal role in
shaping global market demand.
Leading Players in the Aircraft Oxygen System Market:
- Adams Rite Aerospace Inc.
- Diehl Stiftung & Co. KG
- Aerox
- Precise Flight, Inc.
- Aviation Oxygen Systems Inc.
- Technodinamika
- Essex Industries, Inc.
- Safran
- Rockwell Collins, Inc.
- COBHAM PLC
The report provides a detailed analysis of the key players of
the global aircraft oxygen system market. These players have
adopted different strategies, such as new product launches,
collaborations, expansion, joint ventures, agreements, and others
to increase their market share and maintain their dominance in
different regions. The report is valuable in highlighting business
performance, operating segments, product portfolio, and strategic
moves of market players to showcase the competitive scenario.
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