The new report by Expert Market Research titled, ‘Global Aerial Refueling Systems Market Report and Forecast 2021-2026’, gives an in-depth analysis of the Global Aerial Refueling Systems Market, assessing the market based on its segments like type, system, component, application, distribution channel, and region. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 526 Million
- Forecast CAGR (2021-2026): 5%
- Forecast Market Size (2026): USD 685 Million
Refueling has become a vital mission component as the frequency of sorties away from ground bases has increased. The AAR will assist in a quick deployment to another country. The industry for aerial Refueling systems is expected to grow as more dependable methods for boosting aircraft endurance and range are employed. Aerial Refueling tankers are being improved in terms of airspeed, altitude, and range. Leaders in the industry are collaborating to increase severe-environment suitability, lower lifetime costs, autonomous service, and roll-on/roll-off capability. North America accounted for a large market share in 2019 because to the presence of the primary Refueling fleets.
Industry Definition and Major Segments
Aerial Refueling is the process of exchanging aviation fuel from one military aircraft (the tanker) to another (the receiver) while in flight. It is also known as air Refueling, in-flight Refueling (IFR), air-to-air Refueling (AAR), and tanking.
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Based on type, the market is bifurcated into:
On the basis of systems, the market is divided into:
- Probe and Drogue
- Flying Boom
In terms of component, the market is categorised into:
- Refueling Pods
- Refueling Probes
Based on Applications, the market is segmented into:
- Military Aircraft
- Commercial Aircraft
By distribution channels, the market is bifurcated into:
On the basis of region, the market is segmented into:
- North America
- Latin America
- Middle East and Africa
Because it allows planes to take off with less weight, air-to-air Refueling is becoming more prevalent. Guns, freight, and personnel are all carried on defence aircraft, and if the plane is fully loaded, take-off may be problematic. Air-to-air Refueling allows aircraft to be refuelled for both long-distance flights and loitering. The aerial Refueling industry is benefiting from this trend. Furthermore, in-flight Refueling, also known as air-to-air Refueling, has been proposed as a method of reducing fuel use on long-distance flights. As a result of lower fuel use, gas taxes will be decreased, benefiting both airlines and air forces financially. Air-to-air Refueling is expected to drive the demand for aerial Refueling. Furthermore, increased research and development by leading players is driving market expansion, and this trend is expected to continue during the forecast period. The aerial Refueling industry’s end consumers include the military and commercial airlines. Aerial Refueling is widely used by the air forces of all major defence forces across the world because it allows fighter/combat aircraft to take off with less fuel and more payload. The commercial airline uses aerial Refueling services during long-haul trips, which aids industry expansion.
Key Market Players
The major players in the market are Lockheed Martin Corporation, Cobham Mission Systems Wimborne Limited, Eaton Corporation plc, Safran Aerosystems, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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