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Aerial Refueling Systems Market Report
Aerial Refueling Systems Market Size, Share, Trend, Forecast, & Competitive Analysis: 2019-2024
As per Stratview Research, the global aerial refueling systems market offers a healthy growth opportunity in the entire ecosystem and is likely to reach an estimated value of US$ 671.9 million in 2024. Increasing demand for tanker aircraft, owing to rising defense budgets in the developing economies and expected replacement of old tanker aircraft fleet of KC-135 in the USA, emergence of multirole aircraft tankers; increasing demand for long-run military jets for special purpose missions, and rising tanker fleet size are the major growth drivers for the aerial refueling systems market.
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The USA, the largest market for the defense industry, has a large aging tanker fleet which needs replacement with the latest tanker aircraft. The USA’s current plan is to purchase 179 Boeing’s KC-46 tanker aircraft by 2027 and will eventually replace 470 KC-135 tanker aircraft with KC-46 aircraft. In Sep. 2018, the US Air Force gave a contract of about US$ 2.9 billion to Boeing for 18 additional KC-46 Pegasus tanker aircraft, making the total order of 52 aircraft. Later in Jan. 2019, Boeing successfully delivered its first KC-46A Pegasus tanker aircraft to the US Air Force.
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The market is segmented based on the aircraft type as Combat Aircraft, Helicopter, and UAV. Combat aircraft is likely to remain the growth engine of the market during the forecast period. Increasing demand for combat aircraft, owing to rising tensions, and large aging combat aircraft fleet size and a greater need of multiple tanker aircraft for refueling are the major factors that are proliferating the demand for refueling systems in the segment. The UAV segment is likely to witness the highest growth during the forecast period, driven by increasing production of long-range UAVs.
Based on the system type, the market is segmented as Hose & Drogue and Boom & Receptacle. Hose & Drogue is expected to remain the larger and faster-growing system type in the market during the forecast period of 2019 to 2024, driven by low cost and ease in refueling. All the major tanker aircraft are increasingly opting for hose and drogue system. KC-46 tanker aircraft of Boeing, the most talked tanker aircraft, are equipped with a permanent centerline drogue system and removable wing air refueling pods.
In terms of region, North America is expected to remain the largest aerial refueling systems market during the forecast period. The USA is likely to remain the growth engine of the North American market, propelled by high defense budget, large tanker aircraft fleet (KC-135), and expected replacement of old aircraft fleet with new KC-46 tanker aircraft in the coming years.
Asia-Pacific is expected to experience the highest growth during the same period. Increasing defense budget of the major Asian markets, such as China, India, Japan, and South Korea; and good order size of tanker aircraft are likely to drive the demand for aerial refueling systems in the region.
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Research Scope |
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|---|---|
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Trend & Forecast Period |
2013-2024 |
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Size in 2024 |
US$ 671.9 million |
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Regions Covered |
North America, Europe, Asia-Pacific, Rest of the World |
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Countries/Subregions Covered |
The USA, Canada, Mexico, Germany, France, The UK, Russia, China, Japan, India, Latin America, the Middle East and Others |
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Figures & Tables |
>150 |
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Customization |
Up to 10% customization available free of cost |
The Aerial Refueling Systems Market is segmented in the following ways:
The supply chain of this market comprises raw material suppliers, component manufacturers, aerial refueling system suppliers, aircraft manufacturers, and end users. The key aerial refueling system manufacturers are-
Developing high-performance aerial refueling systems and components and building long-term relations with the customers are the key strategies adopted by the major players to gain a competitive edge in the market.
For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
This strategic assessment report, from Stratview Research, estimates the global aerial refueling systems market for the forecast period of 2019 to 2024 by studying current market trends, changing competitive dynamics, and future market possibilities. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
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Driven by a number of factors like Increasing demand for tanker aircraft, the aerial refuelling systems market is projected to reach an estimated value of US$ 671.9 million in 2024.
Cobham Plc., Eaton Corporation, Safran S.A. (Zodiac Aerospace), GE Aviation Systems, and Marshall Aerospace and Defense Group are among the key players in the aerial refuelling systems market.
North America is expected to remain the largest aerial refueling systems market during the forecast period of 2019-2024.
Asia-pacific is expected to witness the highest growth in the aerial refueling systems market in the coming years.
Hose & Drogue is expected to remain the larger system type in the aerial refueling systems market during the next five years.
Combat aircraft is expected to remain the growth engine in the aerial refueling systems market in the coming years.
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