Taking a new type of emergency power supply system with compressed air as power source and expander as engine as the analysis object, the working process analysis, and energy loss analysis of the system are made. On this basis, the system analysis model was established, and the relationship between the system efficiency and each influencing parameter was obtained through MATLAB simulation calculation of the system. According to the analysis, it was concluded that when the other parameters were certain, system efficiency with the rising of tanks of compressed gas pressure reduced gradually, the volume expansion ratio of the expander first increased and then decreased, and the increase of inlet pressure expander rose. Still, its growth rate decreased gradually with the increase of leakage coefficient and plummeted. Among various parameters that would influence each other, the pressure range of compressed air stored in the air storage tank needed to be determined according to the structural parameters of the expander. In order to achieve the highest energy utilization rate of compressed gas, according to different system parameters, it was necessary to reasonably match the parameters of the gas storage tank and expander through parametric design.