USD 185.7b growth in Commercial Aircraft Oxygen System Market during 2022-2026
Dhaka: Technavio has announced the release of its latest report on the Commercial Aircraft Oxygen System Market. The preference for aircraft with modern technology is one of the primary forces supporting the commercial aircraft oxygen system market's growth. The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and market behavior across various segments.
Key findings
- Commercial aircraft oxygen system market value to grow by USD 185.7 billion from 2021 to 2026.
- The growth momentum is expected to accelerate at a CAGR of 4.88 per cent during the forecast period
- 37 per cent 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
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", said a senior analyst at Technavio.
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