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Aircraft Oxygen Systems Market: Strong Growth and Major Players Driving Market Expansion by 2029
Aircraft Oxygen Systems Market
Steady market growth and new innovations in aircraft oxygen systems are set to boost the market size to significant heights. The need for these advanced systems has become more pronounced due to an increase in long-haul flights, a shift to sustainable solutions, aviation safety regulations, and the potential for better health crisis preparedness.
What Is The Projected Market Size Of The Global Aircraft Oxygen Systems Market And Its Growth Rate?
• From a value of $5.55 billion in 2024, the aircraft oxygen systems market will see an uptick to $5.89 billion in 2025, growing at a CAGR of 6.1%.
• Come 2029, the market is expected to reach a size of $7.74 billion growing at a CAGR of 7.1%.
• Key factors contributing to this strong growth include rise in long-haul flights, emphasis on sustainable solutions, innovation in oxygen storage solutions, as a response to previous health crises, and the overall expansion of the aircraft fleet.
What Is Driving The Growth In The Aircraft Oxygen Systems Market?
The rise in the number of people choosing to travel by air is notably contributing to the growth of the aircraft oxygen systems market. As the number of passengers increase, there is higher demand for oxygen systems, pushing airlines to improve their systems benefiting both the business and the passenger. As of March 2022, the International Air Transport Association (IATA) forecasts that there will be 4.0 billion air passengers worldwide in 2024, reaching pre-COVID-19 levels. The total number of travelers is predicted to see a rise from 47% higher in 2021 to 83% in 2022, 94% in 2023, 103% in 2024, and 111% in 2025. Thus, the increasing number of air passengers is fueling the growth of the aircraft oxygen systems market.
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Who Are the Key Players Driving Aircraft Oxygen Systems Market Growth?
Key market players include:
• Aviation Oxygen Systems Inc.
• Cobham Limited
• Diehl Stiftung & Co. KG
• Essex Industries Inc.
• Precise Flight Inc.
• Technodinamika JSC
• Safran S.A.
• Air Liquide S.A.
• Aerox Aviation Oxygen Systems
• B/E Aerospace Inc.
• BASA Aviation Ltd.
• East/West Industries Inc.
• RTX Corporation
• Ventura Aerospace Inc.
• AVOX System Inc.
• Meggitt plc
• Rostec State Corporation
• Worthington Industries Inc.
• 3M Company
• Securaplane Technologies Inc.
• Teledyne Technologies Incorporated
What Are The Key Trends In The Aircraft Oxygen Systems Market?
Major trends in the market include:
• Enhanced aviation safety regulations
• Modernization of aircraft fleet
• Shift towards lightweight materials in aircraft oxygen systems
• Product innovation
• Advancements in technology
What Are The Segments Of The Global Aircraft Oxygen Systems Market?
The market is segmented into:
• By Component: Oxygen Storage System, Oxygen Delivery System, Oxygen Mask System
• By System: Passenger Oxygen System, Crew Oxygen System
• By Aircraft Type: Narrow Body Aircraft, Wide Body Aircraft, Very Large Body Aircraft, Regional Aircraft
• By Technology: Chemically-Induced System, Compressed Oxygen System
• By End-User: Commercial Aviation, Military Aviation, Other End-Users
Which Region Leads The Aircraft Oxygen Systems Market?
North America dominated the aircraft oxygen systems market in 2024, with other regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa also contributing significantly to the global market.
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What Is Covered In The Aircraft Oxygen Systems Market Global Market Report?
- Market Size Analysis: Analyze the Aircraft Oxygen Systems Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Aircraft Oxygen Systems Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Aircraft Oxygen Systems Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Aircraft Oxygen Systems Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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