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Aerial Refueling System Market Revenue, By Technology, 2018 & 2024 | Key Players Liebherr Group, GE Aviation, Zodiac Aerospace, Lockheed Martin, Boeing, Dassault Aviation

12-13-2018 06:24 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Aerospace Industry

Aerial Refueling System Market

Aerial Refueling System Market

Military aircraft will dominate the aerial refueling system market, crossing USD 2 million over the next eight years. It is attributed to high requirement of refueling system in military sector along with increasing defense budgets across the globe. Helicopters are likely to grow significantly from 2017 to 2024 owing to their high usage of these system. This extensive usage is credited to low fuel carrying capacities of helicopters. Continuous growth in their production across the globe will further strengthen the product penetration.

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North America is likely to dominate the global aerial refueling system market with more than 50% revenue share by the end of 2024. Prevalence of multiple variants of these systems such as KC-135, KC-130 etc. coupled with presence of established manufacturers will primarily contribute to the revenue generation. Rising defense budget of U.S. will further support the regional dominance. Asia Pacific will grow substantially due to rising penetration in countries including China, Japan, and Australia. The high penetration is credited to high aircraft production across the region.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Boeing
2. Lockheed Martin
3. Cobham Plc
4. Eaton Corporation
5. Zodiac Aerospace
6. GE Aviation System
7. Northstar Engineering Corporation
8. Omega Aerial Refueling Services, lnc.
9. Liebherr Group
10. ProtankGrüp (Protank Mission Systems Sdn.Bhd)
11. Smiths
12. Dassault Aviation
13. Marshall of Cambridge (Holdings) Ltd.

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Aerial refueling system market from refueling pods is anticipated to capture major revenue share owing to vitality of the component in the refueling system. They are responsible for monitoring the fuel transfer rate. Drogues are expected to exhibit 3.5% CAGR over the next eight years owing to high adoption of probe and drogue system across the globe for serial refueling. Extensive usage in helicopters will further contribute to the segment’s growth.

Aerial refueling system market from OEM will capture the maximum share in the industry over the forecast timeframe owing to prior installation in the aircrafts. Continuously rising aircraft production will further support the industry dominance. Aftermarket will witness 4.7% CAGR till 2024 owing to rising replacement needs of system components such as hoses, drogues, etc., especially for the ageing fleet.

Probe and drogue will dominate the aerial refueling system market, crossing 70% volume share over the forecast timespan. Provision of more passive tanker operations as compared to flying boom mechanism along with negligible requirement of precise direction to the drogue will contribute significantly towards the revenue generation. Flying boom system will witness significant gains owing to its high usage in the industry over the past years. Moreover, high fuel transferring rate as compared to the counterpart will further propel the market size from 2017 to 2024.

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GE Aviation System, Boeing, Eaton Corporation, Lockheed Martin, Zodiac Aerospace, Marshal Aerospace and Defense Group, and Dassault Aviation are among the noticeable participants in the aerial refueling system industry. Other prominent players include Omega Aerial Refueling Services, Northstar Engineering Corporation, Smiths, and The Liebherr Group. Agreements and contracts are among the major strategies implemented by the competitors to enhance their visibility. For instance, in October 2017, Cobham Plc signed an agreement with Icon Aerospace Technology for supplying refueling hoses for various aircrafts.

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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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