New York, United States , Sept. 01, 2024 (GLOBE NEWSWIRE) -- The Global Aircraft Oxygen System Market Size to Grow from USD 2.4 Billion in 2023 to USD 4.8 Billion By 2033, at a Compound Annual Growth Rate (CAGR) of 7.18% during the forecast period.
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The aircraft oxygen system market is expanding steadily due to increased air traffic and a growing requirement for safety and emergency readiness. These systems are critical for guaranteeing passenger and staff safety at high altitudes, as they provide oxygen in the event of cabin depressurisation or in emergency scenarios. Technology improvements, which result in efficient and lightweight oxygen systems, drive the industry forward. Regulatory mandates, as well as rising demand for commercial and military aircraft, are driving this industry. Furthermore, the trend towards more ecological and energy-efficient aircraft solutions drives advancements in oxygen system design. Key businesses are focussing on growing product portfolios and improving system reliability, resulting in a competitive environment. As worldwide demand for air travel rises, the market is likely to develop further.
Browse key industry insights spread across 226 pages with 100 Market data tables and figures & charts from the report on the "Global Aircraft Oxygen System Market Size, Share, and COVID-19 Impact Analysis, By Aircraft Type (Narrow Body Aircraft, Wide Body Aircraft, Very Large Body Aircraft, Regional Aircraft), By Component (Oxygen Storage, Oxygen Delivery, Oxygen Mask), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033."
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Insights by Aircraft Type
The narrow body aircraft segment accounted for the largest market share over the forecast period 2023 to 2033. These aircraft, which are often employed by low-cost carriers and regional airlines, require efficient and cost-effective oxygen systems to meet safety standards and improve passenger comfort. The expansion of budget airlines and connectivity in both established and emerging regions increases demand for narrow-body aircraft. Technological developments in oxygen systems, such as lighter and more compact designs, are in line with the requirements of modern aircraft. Additionally, the replacement and upgrading of ageing narrow-body fleets contributes to market increase. As air travel grows in popularity, producers and suppliers of oxygen systems continue to prioritise the narrow-body market.
Insights by Component
The oxygen storage system segment accounted for the largest market share over the forecast period 2023 to 2033. This expansion is being driven by advancements in storage technology, such as lighter, more compact cylinders and creative storage solutions. The growing worldwide fleet of aeroplanes, as well as the requirement for reliable oxygen supplies in emergency scenarios, drive demand for sophisticated storage systems. Regulatory requirements for better safety standards also drive enhanced storage solutions. Furthermore, the modernisation of aircraft fleets and the incorporation of next-generation storage technologies help to drive market growth. As airlines and manufacturers strive to improve the performance and dependability of oxygen systems, the oxygen storage system market is expected to expand and develop further.
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Insights by Region
North America is anticipated to dominate the Aircraft Oxygen System Market from 2023 to 2033. The region's advanced aviation infrastructure and major investments in commercial and military aircraft create demand for dependable oxygen systems. Regulatory authorities such as the FAA impose tight standards, resulting in constant advancements and modifications to oxygen system technology. The presence of major aerospace manufacturers and suppliers in North America accelerates market growth. Furthermore, the modernisation of existing aircraft fleets and the launch of new aircraft models drive up demand. The market also benefits from a strong emphasis on passenger safety and technological improvements, which has established North America as a significant player in the global aircraft oxygen systems market.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. The region's expanding middle class and urbanisation increase demand for air travel, prompting investments in both commercial and regional aircraft. Regulatory bodies are also enhancing safety regulations, increasing the demand for improved oxygen systems. Emerging economies are modernising their fleets and investing in new technologies, which opens up potential for market expansion. Furthermore, the expansion of low-cost carriers and increased defence spending add to market dynamics.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Key Plyaer in the Aircraft Oxygen System Market Collins are Aerospace (U.S.), Zodiac Aerospace (France), ATR (France), KONGSBERG (Norway), Technodinamika (Russia), Cobham Limited (U.K.), Adams Rite Aerospace Inc. (U.S.), East/West Industries, Inc. (U.S.), Essex Industries, Inc. (U.S.), BAE Systems. (U.K.), NetAcquire Corporation (U.S.), Aerox Aviation Oxygen Systems (U.S.), Diehl Stiftung & Co. K.G. (Germany), Precise Flight, Inc (U.S.), Aeromedix, Inc. (U.S.) and others.
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Recent Market Developments
- In March 2021, Cobham Mission Systems, a well-known US manufacturer of military aviation oxygen systems, has announced a new contract to supply oxygen concentrator systems for the entire fleet of US Navy T-45 Goshawk jet trainers.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Aircraft Oxygen System Market, Aircraft Type Analysis
- Narrow Body Aircraft
- Wide Body Aircraft
- Very Large Body Aircraft
- Regional Aircraft
Aircraft Oxygen System Market, Component Analysis
- Oxygen Storage
- Oxygen Delivery
- Oxygen Mask
Aircraft Oxygen System Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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