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Global Aircraft Oxygen System Market Projected to Experience Major Revenue Boost during the Period 2018-2028
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Increasing air travel continues to remain a preliminary factor influencing the development of advanced aircraft oxygen system. According to the analysis of IATA (International Air Transport Association), around 7.8 billion passengers are expected to adopt air travel by 2036. This has paved potential pathways for aircraft oxygen system manufacturers to introduce advanced products for airlines, which is projected to spearhead the growth of the aircraft oxygen system market in the coming years. Moreover, in order to cope up with the cabin pressure in the aircraft, it has been recommended by the ICAO (International civil Aviation Organization) to use supplementary oxygen to avoid hypoxia which has fuelled the sales of aircraft oxygen system.
OEMs (Original Equipment Manufacturers) of new generation aircrafts are engaged in integrating advanced features. This has encouraged incorporation of smart aircraft oxygen system that includes sensors for detecting oxygen levels and facilitate uninterrupted supply of oxygen. For instance, the OBOGS (On Board Oxygen Generating System) produces oxygen and carries out filtration, oxygen gas monitoring and quality control in aircrafts. Introduction of novel technologies in the aircraft oxygen system by manufacturers to achieve sustenance in the competitive environment, is likely to impact the sales of aircraft oxygen system, depending on the aircraft type and technological compatibility of advanced aircraft oxygen system, which is expected to influence growth of the aircraft oxygen system market in the coming years.
Aircrafts generally fly in low air pressure area rendering the atmospheric air undesirable within the aircraft cabin. Hence, internal systems are employed to generate surface specific conditions within the cabin so as to support the passengers within an aircraft and maintain cabin pressurization. These systems are known as aircraft oxygen systems and in the present market scenario is installed in every aircraft built so far. In addition to its purpose to maintain surface level atmospheric conditions, it also helps in controlling humidity levels and temperature as well. Emergency oxygen system is a part of the main aircraft oxygen system and is deployed whenever the primary system fails or shuts down.
Air travel has been steadily improving over the past couple of years owing to affordability and conveyance it offers to the consumers. Growing disposable income among the working class population and migration of the same from rural to urban areas has increased the demand for air travelling and is anticipated to continue in the future. The two major players in the commercial aircraft manufacture have predicted that the demand for new passenger aircrafts is expected to grow by more than hundred percent owing to the rate at which passenger count has increased. Reports published by IATA (International Air Transport Association) suggest that passenger growth has averaged around 2% on yearly basis touching 3.8 billion passengers in the 2016 alone, prompting the airline carriers to order new aircrafts in large number. This changing trend is the key factor in establishing a positive growth for the aircraft oxygen system market.
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Regulation and policies formed by various airline associations mandate regular maintenance and replacement of worn out aircraft parts. This has led to a positive growth in aircraft MRO ((Maintenance, Repair and Overhaul) services wherein aircrafts are refurbished regularly in order to stock aircrafts with latest parts and systems. A growing trend within the airline industry is that airline carriers that are among the top players regularly lease their older aircraft fleet to smaller airline carriers. This helps the top players the generate investment to order and purchase newer aircrafts.
It is a well-known fact the aircraft manufacture requires huge amount of investment, planning, lead time among others. Such factors tend to create undelivered backlogs whenever large number of orders are placed by various airline carriers. This can act as a restraint to the growth of aircraft oxygen system market leading to delayed deliveries of the system and payments as well. Lack of well-knit supply chain of the system is another factor acting as a roadblock to the growth of the market.
Aircraft Oxygen System Market: Segmentation
The Aircraft Oxygen System market can be segmented as follows:
By technology, the market can be segmented as:
- Chemically Induced System
- Compressed Oxygen System
By sales channel, the market can be segmented as:
- Original Equipment Manufacturers (OEM)
- Aftermarket
By application, the market can be segmented as:
- Passenger seating area
- Cabin crew area
- Others
By aircraft type, the market can be segmented as:
- Narrow body aircraft
- Wide body aircraft
- Very large body aircraft
- Regional aircraft
Aircraft Oxygen System Market: Regional Outlook
The market performance of aircraft oxygen system depends upon the production numbers of an aircraft. The two largest players involved in commercial aircraft production are based in North America and Europe region while some smaller players have their bases in Canada, Brazil and France. Collectively it can be said that the aircraft oxygen system market is expected to generate high sales return in North America, Europe and Latin America owing to the presence of large scale manufacturers forming the OEM segment of the market as well as strong performance in the aftermarket segment as well. However, the performance in other regions including Japan, Asia Pacific and Middle East & Africa is expected to solely depend on how frequently the systems are replaced on an existing aircraft fleet through MRO (Maintenance, Repair and Overhaul) hence generating revenue largely from the aftermarket segment.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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