Aerospace Oxygen System Market
Overview and Scope
An aerospace oxygen system refers to the equipment and infrastructure used to supply breathing oxygen to passengers in various aerospace vehicles, such as airplanes and spacecraft. These technologies are critical for safeguarding the safety and well-being of crew members and passengers who operate or travel in low-oxygen settings.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
North America was the largest region in the aerospace oxygen system market in 2023. The regions covered in the aerospace oxygen system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the aerospace oxygen system market report are Honeywell International Inc., Air Liquide S.A., Safran S.A., Eaton Corporation, Rockwell Collins Inc., Parker Hannifin Corporation., Air Products and Chemicals Inc., Diehl Stiftung & Co. K.G., B/E Aerospace, Zodiac Aerospace, Gentex Corporation, Meggitt PLC., JAMCO Corporation, SAE International, Adams Rite Aerospace Inc., BOC Ltd, Essex Industries Inc., HRD Aero Systems Inc, AERO Specialties Inc., East/West Industries Inc., Mountain High Equipment & Supply Co, Ventura Aerospace, CASP Aerospace, Precise Flight Inc., Aerox Aviation Oxygen Systems Inc., GLB Flight Products Ltd,Life Support International Inc., Aviall Inc., AeroMedix Inc., Cobham Limited.
The aerospace oxygen system market report table of contents includes:
1. Executive Summary
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