Aircraft Oxygen System Market
Aircraft Oxygen System Market Analysis, By Technology (Chemically-induced, Compressed Oxygen Systems), By Aircraft Type (Narrow Body Aircraft, Wide Body Aircraft, Regional Aircraft), By Sales Channel, By Application, By Region - Global Market Insights 2022 to 2032
Aircraft Oxygen System Market Outlook (2022-2032)
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).
Aircraft Oxygen System Market Size (2022E)
US$ 5.36 Billion
Forecasted Market Value (2032F)
US$ 9.8 Billion
Global Market Growth Rate (2022-2032)
North America Market Share (2022)
Europe Market Share (2022)
Key Companies Profiled
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Aircraft Oxygen System Demand Analysis (2017-2021) in Comparison to Market Forecasts (2022-2032)
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.
How is the Aircraft Oxygen System Market Evolving?
“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.
An Adaptive Approach to Modern-day Research Needs
How are New Players Aiming to Penetrate the Aircraft Oxygen System Market?
“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.
- Caeli Nova, a London and Switzerland-based startup, focused on improving safety in aviation from a healthcare perspective, closed a Series A funding round with around US$ 8 million. The round was led by Ornament Health and headed by LG Capital. Caeli Nova has also developed Cordillera, an advanced aircraft emergency oxygen system that is not bound by limitations of the current systems being used.
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.
Which Region is at Forefront of Aircraft Oxygen System Demand?
“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.
Which Technology Will Have a Bright Outlook Going Forward?
“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.
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.
- In March 2021, Cobham Mission Systems, a leading U.S.-based manufacturer of military aircraft oxygen systems, announced the acquisition of a new contract to deliver oxygen concentrator systems for the complete fleet of US Navy T-45 Goshawk jet trainers. These systems are crucial in delivering optimal oxygen to pilots.
Key Segments Covered in Aircraft Oxygen System Industry Research
Aircraft Oxygen System Market by Technology :
- Chemically-induced System
- Compressed Oxygen System
Aircraft Oxygen System Market by Sales Channel :
- Original Equipment Manufacturers (OEMs)
Aircraft Oxygen System Market by Application :
- Passenger Seating Area
- Cabin Crew Area
Aircraft Oxygen System Market by Aircraft Type :
- Narrow Body Aircraft
- Wide Body Aircraft
- Very Large Body Aircraft
- Regional Aircraft
Aircraft Oxygen System Market by Region :
- North America
- Latin America
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