Rockville, MD., July 22, 2024 (GLOBE NEWSWIRE) -- According to a recently revised study published by seasoned analysts at Fact.MR, worldwide revenue from the Sales Of Aircraft Oxygen Systems is set to reach US$ 5.96 billion in 2024. The global aircraft oxygen system market has been analyzed to increase at 6.2% CAGR from 2024 to 2034.
The constantly increasing number of people traveling around the world for business or journey purposes is boosting the improvements in technologies and services in the travel sector. Enhancing efficiency, safety, and user experience is becoming a primary objective for leading market players. The continuous rise in international passenger traffic is further increasing the demand for passenger service systems to ensure secure and smooth passenger flow.
The development of new aircraft models in commercial, military, and business aviation is driving the need for oxygen systems tailored to the specific requirements of these machines. The introduction of new aircraft with improved performance, higher altitudes, and longer flight durations is boosting the demand for reliable oxygen systems that can support these advanced capabilities.
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Key Takeaways from the Aircraft Oxygen System Market Study:
- The global aircraft oxygen system market is projected to reach a size of US$ 10.89 billion by the end of 2034.
- North America is expected to hold 24.4% of the global market share in 2024.
- Demand for compressed oxygen systems is forecasted to increase at a 6.2% CAGR through 2034.
- The Western Europe market is forecasted to reach a value of US$ 2.17 billion by the end of 2034.
- In 2024, the United States is expected to account for 81.4% of the market share in North America.
- Based on sales channel, the original equipment manufacturers (OEMs) segment is forecasted to generate revenue worth US$ 6.99 billion by 2034.
- The market in Italy is projected to rise at a CAGR of 6.3% from 2024 to 2034.
“Expansion of the aviation oxygen system market is being driven by the military's defense requirement for high-end oxygen systems for aircraft, including fighter jets, transport, and cargo, as well as choppers,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Aircraft Oxygen System Market:
Key industry participants like Cobham Plc; Aerox Aviation Oxygen Systems; Fluid Power; Cobham Mission Systems; Technodinamika JSC; Aviation Oxygen Systems Inc;. Rockwell Collins Inc.; Precise Flight Inc.; Adams Rite Aerospace Inc.; Essex Industries Inc.; East/West Industries Inc.
Growing Demand for Compressed Oxygen Systems
Primary driver behind the preference for compressed oxygen systems over chemically-induced systems is their reliability, simplicity, and versatility. In emergencies, having a dependable and rapid source of clean oxygen is critical, which compressed oxygen systems provide. They offer longer shelf life, consistent performance, and easier refilling and maintenance. Their capability to deliver oxygen at various flow rates makes them suitable for diverse medical and aviation applications.
Compressed oxygen systems are generally perceived as safer because they do not rely on chemical processes that can fail or produce undesirable by-products. Their established track record across multiple industries, including healthcare and aviation, enhances their reputation and increases their demand.
Aircraft Oxygen System Industry News:
In recent developments within the aircraft oxygen system industry, key players are actively pursuing collaborations, mergers, and partnerships to expand their market presence and enhance sales opportunities. For instance, in September 2023, O2 Aero Acquisitions, the parent company of Aerox Aviation Oxygen Systems, acquired Fluid Power, a manufacturer based in Hudson, Ohio. This strategic move significantly broadened Aerox's portfolio, particularly strengthening its capabilities in specialized and military applications globally.
Moreover, Diehl Aviation introduced its emergency oxygen generator designed for passenger aircraft at the Aircraft Interiors Expo in Hamburg in June 2022. This innovation underscores Diehl Aviation's commitment to enhancing safety measures in cabin interiors and aircraft systems.
Additionally, Cobham Mission Systems, a prominent US-based manufacturer, secured a contract in March 2021 to supply oxygen concentrator systems for the entire US Navy T-45 Goshawk jet trainer fleet. These systems play a crucial role in ensuring pilots receive optimal oxygen levels, highlighting Cobham's leadership in military aircraft oxygen systems.
These developments illustrate the industry's focus on innovation and strategic expansion to cater to diverse aviation needs, including defense and military applications.
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Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Aircraft Type:
- Narrow Body Aircraft
- Wide Body Aircraft
- Very Large Body Aircraft
- Regional Aircraft
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Application:
- Passenger Seating Area
- Cabin Crew Area
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Technology:
- Chemically-Induced Systems
- Compressed Oxygen Systems
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Sales Channel:
- Original Equipment Manufacturers
- Aftermarket
More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the aircraft oxygen system market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on aircraft type (narrow-body aircraft, wide-body aircraft, very large-body aircraft, regional aircraft), technology (chemically-induced systems, compressed oxygen systems), application (passenger seating area, cabin crew area), and sales channel (original equipment manufacturers, aftermarket), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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