Market Size of Passenger Emergency Oxygen Deployment Systems Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.83 Billion |
| Market Size (2029) | USD 2.61 Billion |
| CAGR (2024 - 2029) | 7.42 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Passenger Emergency Oxygen Deployment Systems Market Analysis
The Passenger Emergency Oxygen Deployment Systems Market size is estimated at USD 1.83 billion in 2024, and is expected to reach USD 2.61 billion by 2029, growing at a CAGR of 7.42% during the forecast period (2024-2029).
According to the latest updates from IATA, ICAO, the Airports Council International (ACI), the UN World Tourism Organization (UNWTO), the World Trade Organization (WTO), and the International Monetary Fund (IMF), the international air passenger traffic in 2023 has improved compared to that of 2022. The international air passenger traffic in July 2023 increased by 26.2% compared to July 2022, and the revenue passenger kilometers (RPK) in the first half of 2023 reached 47.2% of that of 2022.
The increasing orders and deliveries of new commercial aircraft due to increasing air traffic passenger is anticipated to increase the demand for emergency oxygen systems in aircraft during the forecast period. The replacement of aging aircraft and strict regulations for safety are other factors that fuel the market growth. Moreover, reconfigurations of cabin structures and systems installation do offer market opportunities for MRO players.
The increasing military expenditure of emerging economies is propelling investments in the procurement of next-generation aircraft for enhancing their air capabilities. Moreover, combat aircraft are required to perform High-G maneuver, which requires the pilot to wear an oxygen mask to retain consciousness. These scheduled orders are anticipated to bolster the growth of oxygen systems in military aircraft. The need for regular replacement of oxygen systems is also anticipated to drive market growth in the coming years.
