July 11, 2022 10:00 ET | Source: FACT.MR FACT.MR
United States, Rockville MD, July 11, 2022 (GLOBE NEWSWIRE) -- As per the latest report published by Fact.MR, a market research and competitive intelligence provider, the global Sales of Aircraft Oxygen System market is estimated to reach US$ 5.36 billion in 2022 at a CAGR of 6.2% from 2022 to 2032. Globalization and urbanization across the world have led to increased travel activity and led a substantial increase in air travel passengers which is fueling the demand for aviation oxygen systems.
Fact.MR is harping on the point that the end-consumers prefer airways to save on downtime, which, in turn, asks for proper oxygen supply. While flying at higher altitudes, there isn’t much of the oxygen available to breathe well. This lacuna has, thus, made it compulsory for the authorities to provide aircraft oxygen system. On this note, the Aircraft Oxygen System market is likely to reach US$ 9.8 billion by the year 2032.
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Globalization coupled with urbanization has compelled the people to increase their travel activities, thereby fueling the demand for aircraft oxygen system. Lower airfares are also contributing towards rise in number of the passengers going for air travel.
Key Takeaways from Market Study
The global Aircraft Oxygen System market is dominated by the seasoned players. It’s tad difficult for new entrants due to heavy investments involved in the sector.
• Caeli Nova is emphasizing on improvement in aviation safety, especially from the healthcare prospects. It has recently closed Series A funding round worth close to US$ 8 million. Ornament Health led this round. LG Capital headed it. The company has come up with Cordillera. It’s one of the advanced aircraft emergency oxygen system not abiding by limitations faced by existing systems.
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Aircraft oxygen system manufacturers are anticipated to focus on collaborations, mergers, and partnerships to expand their business scope and increase their sales potential.
Aircraft oxygen system companies are also expected to focus on defense and military aircraft to maximize their revenue generation capacity.
• In March 2021, Cobham Mission Systems, a leading U.S.-based manufacturer of military aircraft oxygen systems, announced the acquisition of a new contract to deliver oxygen concentrator systems for the complete fleet of US Navy T-45 Goshawk jet trainers. These systems are crucial in delivering optimal oxygen to pilots.
Key Segments Covered in Aircraft Oxygen System Industry Research
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Fact.MR, in its new offering, presents an unbiased analysis of the global Aircraft Oxygen System market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by sales channel (OEMs and aftermarket), by application (passenger seating area, cabin crew area, and likewise), by aircraft type (narrow body aircraft, wide body aircraft, very large body aircraft, and regional aircraft), and by region (North America, LATAM, Europe, East Asia, South Asia & Oceania, and MEA).
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