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Major aerial refueling systems market players include Lockheed Martin, Boeing, Cobham Plc, Zodiac Aerospace, Eaton Corporation, GE Aviation System, Engineering Corporation, Northstar and Omega Aerial Refueling Services, lnc.
June 25, 2020 (Newswire.com) –
According to the latest report “Aerial Refueling Systems Market by Application (Military Aircraft, Helicopters, Commercial Aircraft, UAV), Component (Refueling Pods, Refueling Probes, Drogues, Hoses, Boom), System (Probe and Drogue, Flying Boom), Distribution Channel (OEM, Aftermarket), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of aerial refueling systems will cross $5 billion by 2026. A rising defense budget among developed and emerging economies will surge market demand.
Aerial refueling system enables air-to-air refueling of one aircraft from another during flight. The system is widely used by the major defense forces, as it offers high flexibility in military operations. The system provides extended flying hours of patrolling for fighter and combat aircrafts. Growing spending on armed forces has enhanced the demand for fighter jets. This in turn has increased the adoption of advanced refueling techniques, including electro-optical grid reference systems, that will drive the market growth.
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On the basis of components, aerial refueling systems market is categorized into refueling probes, refueling pods, drogues, boom, and hoses. Drogues accounted for a small share of around 1% in 2019, but are anticipated to grow to a substantial rate till 2026, owing to its growing usage for refueling. These components find a wide application in flying boom and probe and drogue systems which are extensively indulged in the aerial refueling process.
Based on application, the industry is broadly segmented into military aircraft, helicopters, commercial aircraft, and Unmanned Aerial Vehicles (UAVs). Commercial aircraft is estimated to grow at a significant rate, owing to an increase in long-haul flight duration for refueling commercial airliners during the journey.
Aftermarket aerial refueling systems market size will witness around 5.6% growth until 2026 due to the conversion of retired aircraft into aerial refuelers. For instance, in August 2017, the Royal Air Force (RAF) converted a retired fleet of Lockheed L1011 into aerial tankers for carrying fuel. Furthermore, cost affordability and a low replacement rate when compared to original equipment manufacturers will positively influence industry growth in the coming years.
Key industry participants include Lockheed Martin, Boeing, Cobham Plc, Zodiac Aerospace, Eaton Corporation, GE Aviation System, Engineering Corporation, Northstar and Omega Aerial Refueling Services, lnc. Product manufacturers are primarily focusing on technology advancement, geographic expansion, and acquisition strategies in the long run.
Asia Pacific holds a significant share in the aerial refueling systems market with countries including China and Australia continuously developing refueling abilities. In early 2018, China tested the refueling of drones under human control. Furthermore, countries such as India and Japan are continuously procuring refueler aircraft to expand their operational reach.
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Table of Contents (ToC) of the report:
Chapter 3. Aerial Refueling Systems Market Insights
3.1. Industry segmentation
3.2. Industry ecosystem analysis
3.2.1. Technology providers
3.2.3. Profit margin analysis
3.2.4. Distribution channel analysis
3.2.5. Vendor matrix
22.214.171.124. Product portfolio
126.96.36.199. Global presence
3.3. Defense budget, by region
3.4. Pricing trends by region (including COVID-19 impact)
3.4.1. North America
3.5. Cost structure analysis
3.6. Technology landscape
3.7. Regulatory landscape
3.8. Industry impact forces
3.8.1. Growth drivers, by region
188.8.131.52. North America
184.108.40.206. Asia Pacific
220.127.116.11. Latin America
18.104.22.168. Middle East & Africa
3.8.2. Industry pitfalls & challenges
3.9. Growth potential analysis, 2019
3.10. Porter’s analysis
3.11. Competitive landscape, 2019
3.11.1. Company market share, 2019
3.11.2. Company performance analysis, 2019
3.11.3. Key stakeholders
3.11.4. Strategic dashboard
3.12. PESTLE analysis
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Source: Global Market Insights, Inc.