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Aircraft Oxygen Systems Market Landscape 2025: Forecast Data and Growth Strategy Insights
Aircraft Oxygen Systems
What Is the Expected CAGR for the Aircraft Oxygen Systems Market Through 2025?
In recent times, the size of the aircraft oxygen systems market has witnessed robust growth. The market's worth is predicted to elevate from $5.55 billion in 2024 to $5.89 billion in 2025, marking a compound annual growth rate (CAGR) of 6.1%. The key growth catalysts in the historical phase have been aviation safety regulations, combined efforts and research within the industry, focus on emergency readiness, emphasis on passenger safety and the worldwide growth of air travel.
What's the Projected Size of the Global Aircraft Oxygen Systems Market by 2029?
The market for aircraft oxygen systems is anticipated to witness significant expansion in the forthcoming years, with a projected increase to "$7.74 billion by 2029 and a compound annual growth rate (CAGR) of 7.1%. This increase in the predicted time frame is due to the surge in long-distance travel, movement towards eco-friendly solutions, innovative approaches to oxygen storage, preparedness for health emergencies, and growth in the aircraft fleet. The key trends expected during this forecast period are tighter safety regulations, modernization of aircraft fleets, a transition to lighter materials, product innovation, and advanced technology.
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Top Growth Drivers in the Aircraft Oxygen Systems Industry: What's Accelerating the Market?
The aircraft oxygen systems market is poised for growth due to the rising count of air passengers. Air passengers, defined as either individuals or businesses primarily engaged in aerial transportation along domestic and international routes, contribute to the growth of the aircraft oxygen systems industry via economies of scale. Increased passenger count prompts a surge in demand for oxygen systems. Airlines then have a stronger motivation to enhance their oxygen systems, resulting in mutual benefits for the air carriers and their customers. The International Air Transport Association (IATA), a Canada-based trade association that supports airline pursuits and establishes industry policies and norms, noted in March 2022 that it expects 4.0 billion air passengers universally by 2024 (accounting for multi-sector connecting flights as one passenger), signaling a return to pre-pandemic levels (103% of the 2019 figure). Compared to previous years, the volume of air travelers increased by 47% in 2021, with a predicted rise of 83% in 2022, followed by 94% in 2023, 103% in 2024, and 111% in 2025. Hence, the growth in the number of air travelers is steering the expansion of the aircraft oxygen systems market.
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What Trends Will Shape the Aircraft Oxygen Systems Market Through 2029 and Beyond?
The ongoing improvements in oxygen storage systems are a leading trend gaining traction in the oxygen storage system market. Prominent corporations in this market are focusing on creating cutting-edge oxygen storage systems tailored to various industries to maintain their market dominance. In February 2023, high-tech industrial products and services company Adamant Composites Ltd., based in Greece, established a partnership with German private space launch company HyImpulse. This collaboration aims to design and test a number of liner-less CFRP tanks compatible with liquid oxygen (LOX), specifically for small space launch vehicles. Due to the use of Toray thermoset uni-directional prepregs, these tanks are considerably lighter and less expensive to manufacture than their aluminum counterparts. Also, the composite retains its structure during the sudden thermal contraction triggered by rapid propellant filling at cryogenic temperatures.
What Are the Main Segments in the Aircraft Oxygen Systems Market?
The aircraft oxygen systems market covered in this report is segmented -
1) By Component: Oxygen Storage System, Oxygen Delivery System, Oxygen Mask System
2) By System: Passenger Oxygen System, Crew Oxygen System
3) By Aircraft Type: Narrow Body Aircraft, Wide Body Aircraft, Very Large Body Aircraft, Regional Aircraft
4) By Technology: Chemically-Induced System, Compressed Oxygen System
5) By End-User: Commercial Aviation, Military Aviation, Other End-Users
Subsegments:
1) By Oxygen Storage System: High-Pressure Oxygen Cylinders, Liquid Oxygen Systems, Chemical Oxygen Generators
2) By Oxygen Delivery System: Continuous Flow Systems, Demand Oxygen Systems, Diluter Demand Systems
3) By Oxygen Mask System: Passenger Oxygen Masks, Crew Oxygen Masks, Emergency Oxygen Masks
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Which Top Companies are Driving Growth in the Aircraft Oxygen Systems Market?
Major companies operating in the aircraft oxygen systems market 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
Which Regions Will Dominate the Aircraft Oxygen Systems Market Through 2029?
North America was the largest region in the aircraft oxygen systems market in 2024. The regions covered in the aircraft oxygen systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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