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I AgreeAnalysis of Aircraft Oxygen System market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global market for aircraft oxygen systems accounts for a revenue of US$ 5.36 billion in 2022 and is anticipated to surge to US$ 9.8 billion by 2032. Worldwide sales of aircraft oxygen systems are projected to increase at a CAGR of 6.2% between 2022 and 2032.
An increasing number of people traveling by aircraft has resulted in high demand for aviation oxygen systems, and the market is expected to follow a similar trend across the forecast period (2022-2032).
Report Attributes |
Details |
---|---|
Aircraft Oxygen System Market Size (2022E) |
US$ 5.36 Billion |
Forecasted Market Value (2032F) |
US$ 9.8 Billion |
Global Market Growth Rate (2022-2032) |
6.2% CAGR |
North America Market Share (2022) |
25% |
Europe Market Share (2022) |
20% |
Key Companies Profiled |
|
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When flying at high altitudes there isn’t enough oxygen for a human being to breathe adequately and survive and this has mandated the use of airplane oxygen systems to regulate proper breathing for individuals present in the aircraft.
Rising disposable income, availability of low-cost air travel, increasing working population, technological advancements, growing demand for aircraft MRO (Maintenance, Repair, and Overhaul) services, and replacements of old aircraft are some of the prime factors that drive consumption of aircraft oxygen systems.
However, changing safety mandates for air travel, high investments, and the pending backlog of deliveries are expected to be some factors that could hamper shipments of aircraft oxygen systems over the coming years.
The global aircraft oxygen system market is slated to expand at a CAGR of 6.2% from 2022 to 2032.
“Market Surging on Back of Increasing Number of Air Travel Passengers”
Globalization and urbanization across the world have led to increased travel activity and led a substantial increase in air travel passengers which is fueling the demand for aviation oxygen systems. Low airfares have also contributed to an increase in the number of passengers travelling by aircraft.
An increasing number of air travelers especially from the middle-class group has pushed aircraft vendors to purchase new airplanes and invest in the refurbishment of existing ones.
Rising aircraft purchases and rapid increase in demand for aircraft MRO services are also expected to positively influence sales of airplane oxygen system components. Portable aviation oxygen systems are also anticipated to gain popularity over the coming years.
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“Start-ups Bagging New Investments to Advance their Innovative Products”
Aircraft systems are loaded with the latest technologies and come with a hefty price tag and so is the case with aircraft oxygen system components that cost a lot to develop as well as manufacture.
This limits the scope for new entrants and start-ups but they can obtain new investments if they come up with unique product offerings that the market would widely accept.
New entrants can follow the footsteps of Caeli Nova and create novel offerings to increase their chances of securing funding from big investors, which will help them make a mark in the global aircraft oxygen system industry.
“Aircraft Oxygen System Consumption Led by North America”
Sales of aircraft oxygen systems in North America account for a revenue total of US$ 1.34 billion in 2022 and the market in this region holds a prominent market share of 25%.
The presence of key aircraft manufacturers such as Boeing and Bombardier in this region is expected to crucially drive aircraft oxygen system market growth through 2032. Increasing investments in the expansion of the commercial, military, and regional aircraft fleets are also expected to drive the consumption of continuous flow oxygen systems and portable oxygen systems.
Fact.MR, a market research and competitive intelligence provider, has listed a detailed segment-wise and region-wise account of the aircraft oxygen system market scenario, in this latest research survey.
“Chemically-induced Oxygen Systems to Lead Market Growth Potential”
The aircraft oxygen system market, on the basis of the technology, is segmented into chemically-induced systems and compressed oxygen systems. Chemically-induced systems are projected to witness an increase in demand at a higher CAGR than compressed oxygen systems.
The Federal Aviation Administration (FAA) mandate that necessitates the use of aircraft chemical oxygen systems in airplanes with more than 20 passengers has boosted the demand in this segment and crucially drives aircraft oxygen system market growth.
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Aircraft oxygen system manufacturers are anticipated to focus on collaborations, mergers, and partnerships to expand their business scope and increase their sales potential.
Aircraft oxygen system companies are also expected to focus on defense and military aircraft to maximize their revenue generation capacity.
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The global aircraft oxygen system market is valued at US$ 5.36 billion.
Aircraft oxygen system sales are expected to reach US$ 9.8 billion by 2032.
From 2022 to 2032, the market is expected to rise at 6.2% CAGR.
North America accounts for 25% share of the global market.