Aerial Refueling Systems Market in Aerospace industry is likely to reach an estimated value of US$ 671.9 million in 2024. – Stratview Research Market Report

The research studies Aerial Refueling Systems Market in the trend period of 2013 to 2018 and forecasted period of 2019 to 2024 under given segments - by Aircraft Type (Combat Aircraft, Helicopter, and UAV), by System Type (Probe and Drogue, and Boom and Receptacle), by Component Type (Refueling Pods, Refueling Probes, Drogues, Hoses, Boom, and Others), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

The study finds –
 North America is expected to remain the largest aerial refueling systems market during the forecast period.
 The aerial refueling systems market is segmented as Hose & Drogue and Boom & Receptacle. Hose & Drogue is expected to remain the larger and faster-growing system type in the market during the forecast period of 2019 to 2024.
 Combat aircraft is likely to remain the growth engine of the market during the forecast period of 2019 to 2024.

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Aerial Refueling Systems Market: Highlights

The global aerial refueling systems market offers a healthy growth opportunity in the entire ecosystem and is likely to reach an estimated value of US$ 671.9 million in 2024. Increasing demand for tanker aircraft, owing to rising defense budgets in the developing economies and expected replacement of old tanker aircraft fleet of KC-135 in the USA; emergence of multirole aircraft tankers; increasing demand for long-run military jets for special purpose missions; and rising tanker fleet size are the major growth drivers for the aerial refueling systems market.

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The USA, the largest market for the defense industry, has the large aging tanker fleet, which needs replacement with the latest tanker aircraft. The USA’s current plan is to purchase 179 Boeing’s KC-46 tanker aircraft by 2027 and will eventually replace 470 KC-135 tanker aircraft with KC-46 aircraft. In Sep. 2018, the US Air Force gave a contract of about US$ 2.9 billion to Boeing for 18 additional KC-46 Pegasus tanker aircraft, making the total order of 52 aircraft. Later in Jan. 2019, Boeing successfully delivered its first KC-46A Pegasus tanker aircraft to the US Air Force.

The aerial refueling systems market is segmented based on the aircraft type as Combat Aircraft, Helicopter, and UAV. Combat aircraft is likely to remain the growth engine of the market during the forecast period of 2019 to 2024. Increasing demand for combat aircraft, owing to rising tensions, and large aging combat aircraft fleet size and a greater need multiple tanker aircraft for refueling are the major factors that are proliferating the demand for refueling systems in the segment. The UAV segment is likely to witness the highest growth during the forecast period, driven by increasing production of long-range UAVs.

Based on the system type, the aerial refueling systems market is segmented as Hose & Drogue and Boom & Receptacle. Hose & Drogue is expected to remain the larger and faster-growing system type in the market during the forecast period of 2019 to 2024, driven by its low cost and ease in refueling. All the major tanker aircraft are increasingly opting for hose and drogue system. KC-46 tanker aircraft of Boeing, the most talked tanker aircraft, are equipped with a permanent centerline drogue system and removable wing air refueling pods.

In terms of region, North America is expected to remain the largest aerial refueling systems market during the forecast period. The USA is likely to remain the growth engine of the North American aerial refueling systems market, propelled by high defense budget, large tanker aircraft fleet (KC-135), and expected replacement of old aircraft fleet with new KC-46 tanker aircraft in the coming years.

Asia-Pacific is expected to experience the highest growth during the same period. Increasing defense budget of the major Asian markets, such as China, India, Japan, and South Korea; and good order size of tanker aircraft are likely to drive the demand for aerial refueling systems in the region.

The supply chain of this market comprises raw material suppliers, component manufacturers, aerial refueling system suppliers, aircraft manufacturers, and end users. The key aerial refueling system manufacturers are Cobham Plc., Eaton Corporation, Safran S.A. (Zodiac Aerospace), GE Aviation Systems, and Marshall Aerospace and Defense Group. Developing high-performance aerial refueling systems and components and building long-term relations with the customers are the key strategies adopted by the key players to gain a competitive edge in the market.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum input to the entire value chain of BMI Prepreg. The key features of the report are -
 Market structure: Overview, industry life cycle analysis, supply chain analysis
 Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
 Market trend and forecast analysis
 Market segment trend and forecast
 Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
 Attractive market segments and associated growth opportunities
 Emerging trends
 Strategic growth opportunities for the existing and new players
 Key success factors.

Stratview follows a rigorous process for conducting business research from primary and secondary sources to understand the entire market ecosystem. It has several high value market reports in the Aerospace & defence industry. Please refer to the following link to browse through the reports:

Click Here for Other Reports from Stratview Research in the Aerospace & Defence Industry: https://www.stratviewresearch.com/market-reports/Aerospace-Defense.html

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