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Aerial Refueling System Market Research Report Analysis and Forecasts to 2024 | Zodiac Aerospace, Marshal Aerospace and Defense Group, GE Aviation System
Press release from: marketstudyreport.com
Market Study Report Adds Global Aerial Refueling System Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market. Aerial refueling system market from probe and drogue is likely to showcase dominance with over 70% volume share by 2024.
Report Mainly focuses on the top Manufacturers in global market are given bellow
Eaton Corporation, Boeing, Zodiac Aerospace, Marshal Aerospace and Defense Group, GE Aviation System, Dassault Aviation, and Lockheed Martin
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It offers better and passive tanker operations than the flying boom system. Moreover, it does not experience the requirement of precisely directing the drogue, unlike the counterpart. Provision of high fuel transferring rate in comparison with flying boom system will further propel the industry growth till 2024.
Participants in the aerial refueling system market are focusing towards conducting extensive R&D activities to overcome the challenges of intricate refueling procedures during harsh climate conditions. Regular technological advancements such as smart drogue system have gained prominence among the manufacturers. This system is connected to the existing hose that consistently controls the movements of the basket and is featured with sensors. It acts as an active buffer and leads to significant reduction in the basket movement. These innovations are anticipated to offer stable growth prospects to the industry players.
North America aerial refueling system market is likely to hold a major share, crossing 50% of the revenue share till 2024. Presence of established manufacturers along with prevalence of multiple alternates of these systems including KC-130, KC-135, etc. will primarily support the regional dominance. Increasing defense budget of U.S. will further contribute significantly towards the high revenue generation. Asia Pacific will showcase rapid growth owing to rising aircraft deliveries across the region, especially in the countries including Australia, China, and Japan, strengthening the product penetration.
• (Military Aircraft, Helicopters, Commercial Aircraft, UAV)
• (Refueling Pods, Refueling Probes, Drogues, Hoses, Boom)
• (Probe and Drogue, Flying Boom)
By Distribution Channel
• (OEM, Aftermarket)
Military aircrafts are likely to capture highest revenue share, accounting for over USD 2 million over the next eight years owing to high requirement in these aircrafts. Rising defense budget across the globe will further strengthen the product penetration. Aerial refueling system market from helicopters will grow rapidly till 2024 owing to extensive usage of these systems. It is attributed to their low fuel carrying capacities along with rising production across the globe.
Refueling pods will capture highest revenue share in the aerial refueling system market owing to their prominence in the entire system. The component is responsible for regulating the transfer rate of the fuel. Drogues will exhibit over 3.5% CAGR till 2024 due to high implementation of probe and drogue system around the world. Compatibility with helicopters has resulted in their extensive usage, further fueling the aerial refueling system market from drogues.
OEMs are anticipated to exhibit maximum volume share in the aerial refueling system market by the end of 2024. High revenue generation is attributed to rising production of aircrafts across the globe and their prior installation in the aircrafts. Aftermarket will grow rapidly, exhibiting more than 4.5% CAGR owing to increasing replacement needs of the crucial components including drogues and hoses, particularly in the ageing aircrafts.
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The above information is provided on a regional and country basis for the following:
• North America (U.S., Canada, Mexico)
o Europe (Germany, Italy, UK, France, Austria, Spain, Portugal, Ukraine, Switzerland)
o Asia Pacific (Japan, China, India, South Korea, Australia)
o Latin America (Brazil, Mexico)
o MEA (South Africa, Saudi Arabia)
High acceptance from military applications coupled with continuous surge in defense budgets of various countries across the globe will essentially drive the industry growth over the forecast timeframe. Several developing countries that include India and China have witnessed a considerable rise in their defense budgets, resulting in strengthening of their purchasing power. This will further escalate the revenue generation from aerial refueling system market.
Emergence of multi-role tankers and their extensive usage owing to their benefits will also impact the industry positively. Moreover, various countries have witnessed a surging demand for special purpose military jets. These jets highly utilize refueling systems owing to requirement of uninterrupted operations, strengthening the product sales. However, downsides of boom mechanism including non-compatibility with helicopters and instances of accidents during refueling procedures might hamper the aerial refueling system market growth over the next eight years.
TABLE 1 Aerial Refueling System industry 360 degree synopsis, 2013 - 2024
TABLE 2. Aerial Refueling System market estimates and forecast, 2013 - 2017, (Units) (USD Million)
TABLE 3. Aerial Refueling System market estimates and forecast, 2017 - 2024, (Units) (USD Million)
TABLE 4. Aerial Refueling System market estimates and forecast by position, 2013 - 2017 (Units)
TABLE 5. Aerial Refueling System market estimates and forecast by position, 2017 - 2024 (Units)
TABLE 6. Aerial Refueling System market estimates and forecast by position, 2013 - 2017 (USD Million)
TABLE 7. Aerial Refueling System market revenue estimates and forecast by position, 2017 - 2024 (USD Million)
TABLE 8. Aerial Refueling System market volume estimates and forecast by arrangement, 2013 - 2017 (Units)
TABLE 9. Aerial Refueling System market volume estimates and forecast by arrangement, 2017 - 2024 (Units)
TABLE 10. Aerial Refueling System market revenue estimates and forecast by arrangement, 2013 - 2017 (USD Million)
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