Aerial Refueling Systems Market share research by applications and regions for 2017-2024

Aerial Refueling Systems Market is segmented based on aircraft into helicopters, combat aircrafts, and UAVs. Combat aircraft is anticipated to dominate the industry over the forecast timeframe owing to its rising demand from military & defense. High fleet size requires multiple refueling tankers, thereby supporting the industry dominance.

Rising demand for tanker aircrafts due to high expenditure on defense, especially in emerging economies will drive the industry over the next eight years. Developed economies may witness replacement of old fleet, accelerating the production of these systems. Rising demand of special-purpose military jets along with advent of multirole aircraft tankers will further support the industry growth.

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Aircraft refueling procedure totally depends on the hose operator and receiver aircraft pilot and is possible only in stable weather conditions. Complicated procedure, especially in harsh weather conditions may pose a threat to the industry participants over the forecast timeframe.

This system will be connected to the existing hose and equipped with sensors that will continuously monitor the basket movement. This drogue acts as an active buffer and results in its movement reduction considerably. It leads to uninterrupted refueling even in unsuitable conditions such as rough air or intense turbulence. These research activities are anticipated to induce immense potential to the aerial refueling systems market size till 2024.

For instance, in 2011, U.S. air force signed a contract with Boeing for acquisition of 179 KC-46A tankers for recapitalizing their ageing fleet and to prepare for the war fighter needs. The established players in the industry should recognize and respond to the emerging trends by offering long-term service support along with regular innovations to capture new business opportunities.

By end user, the industry is segmented into commercial airlines and defense sector. Defense sector is projected to exhibit highest revenue share owing to high acceptance from numerous air forces across the globe. These systems help the combat aircrafts to takeoff with high payload and less fuel load. Aerial refueling systems market from commercial airlines will grow owing to their usage during long haul flights.

Asia Pacific will witness a significant growth rate owing to rising investments in defense sector by governments of various countries including China, Japan, South Korea, and India. For instance, in 2017, China’s defense budget was over USD 152 billion. Similarly, India’s defense budget allotment for 2017 was approximately USD 55 billion. Good order size for tanker aircrafts across the regional will contribute to the industry growth till 2024.

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Eaton Corporation, Cobham Plc., GE Aviation systems, Zodiac Aerospace, Marshal Aerospace & Defense Group, Boeing Company, Airbus, and Lockheed Martin Corporation are among the prominent players in aerial refueling systems market. The competition is anticipated to grow exponentially owing to adoption of strategies including product innovations, mergers & acquisitions, and agreements.

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