Here is one source of information:
A Guide to VO2 Max. I didn't read it, but from the material that I
have read, seems that you can't increase your V02 max, but you have to be fit to reach your full potential.
Along the same lines, it's not the max that matters so much (although it helps), it's how long you can stay at or near your max that matters. I've read a number of studies that supported that conclusion.