Categories: Aerospace & Defence

Aerospace Oxygen System Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Aerospace Oxygen System Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Aerospace Oxygen System Global Market Report 2024, The aerospace oxygen system market size has grown strongly in recent years. It will grow from $5.11 billion in 2023 to $5.48 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to safety regulations and standards, growth in commercial aviation, military aircraft modernization, long-haul flights and extended operations, focus on aircraft cabin pressurization.

The aerospace oxygen system market size is expected to see strong growth in the next few years. It will grow to $7.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing air travel demand post-pandemic, expansion of air ambulance and medical flights, emphasis on lightweight and efficient systems, integration with next-generation aircraft. Major trends in the forecast period include use of advanced materials, retrofitting and upgradation services, global expansion in aviation, development of portable oxygen solutions, focus on environmental sustainability.

The increase in air traffic is expected to propel the growth of the aerospace oxygen system market going forward. Air traffic refers to aircraft movement through the airspace, including take-off, landing, and navigation of planes, helicopters, and other aerial vehicles. Aerospace oxygen systems are necessary for air traffic operations in high-altitude flights or military missions. These systems allow workers, including pilots, crew members, and specialist operators, to work efficiently and safely at high altitudes where the oxygen concentration is too low for regular breathing. For instance, in March 2023, according to a report published by the Bureau of Transportation Statistics, a US-based government agency, in 2022, US airlines transported 194 million more passengers than in 2021, a 30% increase year on year. From January to December 2022, US airlines handled 853 million passengers (unadjusted), up from 658 million in 2021 and 388 million in 2020. Therefore, the increase in air traffic is driving the growth of the aerospace oxygen system market.

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The aerospace oxygen system market covered in this report is segmented –

1) By Product: Liquid Oxygen System, Gaseous Oxygen System, On Board Oxygen Generation System

2) By System: Protective Breathing, Portable Oxygen System, Integrated System

3) By Category: Storage System, Delivery System, Oxygen Mask And Cannulas

4) By Mechanism: Chemical Oxygen Generator, Compressed Oxygen System

5) By Application: Passenger Seating Area, Cabin Crew Area, Other Applications

Major companies operating in the aerospace oxygen system market are introducing advanced products incorporated with technologies such as pulse technology to increase their profitability in the market. Pulse oximetry is a technology used in medical and aerospace applications to measure the oxygen saturation of a person’s blood. For instance, in May 2023, Collins Aerospace, a US-based aerospace and defense technology provider launched OXYJUMP NG system. The OXYJUMP NG system enhances mission capabilities by offering an extended gliding distance, ensuring safer jumps with a significant reduction in size and weight compared to older systems. Utilizing Collins’ oxygen pulse technology, it provides a compact and lightweight solution that automatically adjusts oxygen levels for longer mission profiles. Designed for allied armed forces, the system prioritizes stealth, readiness, and safety, while ensuring user comfort and ease of use through automatic operation and an ergonomically designed mask.

The aerospace oxygen system market report table of contents includes: