$1.4 Billion Growth in Global Commercial Aircraft Oxygen System Market During 2021-2025 | Featuring Key Vendors Including Adams Rite Aerospace Inc., AMETEK Inc., and Cobham Plc | Technavio
NEW YORK, Feb. 24, 2021 /PRNewswire/ -- Technavio announces the release of its latest report on the commercial aircraft oxygen system market. The market is segmented by aircraft type (narrow-body aircraft, wide-body aircraft, and regional aircraft), component (storage system, delivery system, and masks or cannula), and geography (North America, Europe, APAC, South America, and MEA). Get a Free Sample Report Delivered Instantly
The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across various segments.
Commercial Aircraft Oxygen System Market: Key Findings
-- Commercial aircraft oxygen system market value to grow by USD 1.4
billion during 2021-2025. However, the growth momentum is expected to
decelerate at a CAGR of over 8% CAGR during the forecast period
-- 35% of market growth to originate from North America during the forecast
period
-- Based on the aircraft type, the narrow-body aircraft segment will offer
maximum opportunities for vendors during the forecast period
-- Commercial aircraft oxygen system market is expected to have a negative
impact due to the spread of COVID-19
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Commercial Aircraft Oxygen System Market: Growth Drivers
Preference for aircraft with advanced technologies is one of the prime factors driving the growth of the market. The continuous growth in global air traffic has increased the demand for new-generation aircraft that feature both better fuel efficiency and increased reliability. This is forcing aircraft OEMs to revamp their production facilities to cater to the growing demand. Besides, stringent regulations imposed by governing bodies like European Aviation Safety Agency (EASA) and FAA are forcing aircraft manufacturers to focus on improving the comfort and safety of passengers. The oxygen system is one of the vital systems on an aircraft that ensures the safety of passengers and crew members under cabin decompression. Therefore, the rising demand for aircraft with advanced technologies is expected to offer significant growth opportunities for vendors during the forecast period.
"Regulatory obligation for installing oxygen system and the emergence of new MRO hubs in APAC will further boost market growth during the forecast period," says a senior analyst at Technavio.
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Commercial Aircraft Oxygen System Market: Major Vendors
Adams Rite Aerospace Inc.
Adams Rite Aerospace Inc. operates its business through the Unified segment. The company offers aircraft oxygen systems including oxygen regulators, masks, control panels, cylinders, and others.
AMETEK Inc.
AMETEK Inc. operates its business through segments such as Electronic Instruments and Electromechanical. The company offers aircraft oxygen systems including regulators, hoses, radio cords, harnesses, and fully assembled masks.
Cobham Plc
Cobham Plc operates its business through segments such as Communications and Connectivity, Mission Systems, Advanced Electronic Solutions, and Aviation Services.
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