Aircraft Oxygen System Market to Reach $4.7 Billion Globally by 2032 at 7.6% CAGR: Allied Market Research

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Apr 25, 2024, 04:26 ET

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.

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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.

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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

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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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