In a recently published report by Research Nester titled“Aerospace Oxygen System Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the aerospace oxygen market in terms of market segmentation by type aircraft, by system type, by component type, by mechanism and by region.
The aerospace oxygen market is segmented by type of aircraft into narrow body aircraft, wide body aircraft, very large aircraft, regional aircraft and general aviation; by system type into passenger oxygen system and crew oxygen system; by component type into storage system, delivery system and mask; by mechanism into chemical and compressed and by region. The aerospace oxygen system market is anticipated to record a CAGR of around 6.55% over the forecast period i.e. 2019-2027.
Increasing number of passengers have been playing a key role in the growth of revenue of aircraft companies. Rising demand for latest innovation is one of the key factor propagating the demand for aerospace oxygen system market across the globe. The availability of superior, robust and reliable technical connectivity results in the growth of the market.
On the basis of regional analysis, the aerospace oxygen system market is segmented into five major regions North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America market is anticipated to capture largest market share in the aerospace oxygen system market owing to advancement in technology in flight control systems and growing military modernization programs. With growing demand for light weight aircraft equipment, market of Asia Pacific is expected to observe a substantial growth.
Growing Demand for New Aircrafts
Latest technologies with advanced equipment are being provided to new aircrafts. Modern aircraft companies are now focused on providing efficient oxygen systems to their passengers. Additionally, demand for new aircraft is increasing owing to rising number of people travelling by air in comparison to conventional methods of long distance travel. It makes the passengers to feel comfortable breathing at higher altitudes. Rising demand for advanced aircraft equipped with latest technologies is expected to propel the growth of aerospace oxygen system market around the world.
Advancement in Technologies
Modern aircraft companies are providing efficient equipment and services to their consumers. Rising application of artificial intelligence in this industry has resulted in increasing production capacity, further enabling small and medium sized aircraft manufacturing companies to increase their overall production capacity. Rising demand for advanced aerospace oxygen system with latest technologies is expected to propel the growth of robotic automation process market.
However, high cost of aircraft equipment is anticipated to be a key restraint for the growth of aerospace oxygen market during forecast period. Air safety regulations require them to be placed in immediate vicinity of the passenger for immediate execution in the face of emergency. This further results in restraints associated with the dimensions of the final product.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the aerospace oxygen system market which includes company profiling of Liebherr Group, BAE Systems, Moog Incorporation, United Technologies Corporation, Rockwell Collins, Parker Hannillin Corporation, Air Liquide, BASA Aviation Ltd, C&D Zodiac Aerospace, Ventura Aerospace, Precise Flight and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the aerospace oxygen system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.