The name of the chemical reaction that breaks down glucose under aerobic conditions is called cellular respiration. During this process, glucose is oxidized to produce energy in the form of adenosine triphosphate (ATP), carbon dioxide, and water. Cellular respiration consists of several stages: glycolysis, the Krebs cycle, and the electron transport chain. This efficient energy production is crucial for sustaining cellular functions and overall metabolism in aerobic organisms, allowing them to thrive in oxygen-rich environments.