Aerial Refueling System Market Segmentation, Industry trends and Developments (Lockheed Martin, Boeing, Eaton, Zodiac Aerospace, GE Aviation, Liebherr Group, Dassault Aviation, Cobham) 2020 - 2024

Aerial refueling system market growth will be driven by rise in spending on tanker aircrafts owing to growing focus on reinforcing military might by various countries. For instance, countries like India and China have significantly increased their defense budget. With aerial refueling systems, geographical barriers and vast distances are no longer an obstacle to military air power.

Increasing defense budgets coupled with rising implementation of aerial refueling systems in the military sector is further projected to strengthen market share over the forecast timespan. As per Global Market Insights Inc., aerial refueling system market forecast is projected to amount to almost $3 million by 2024.

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Probe and drogue segment is projected to showcase exceptional growth in aerial refueling system with over 70% volume share by 2024. Probe and drogue aerial refueling systems offer better and passive tanker operations than the flying boom system. Furthermore, these systems require minimal precise direction for the drogue, unlike its counterparts. Flying boom system has been witnessing substantial gains owing to its high usage in the industry over the past years, and with high fuel transferring rate of probe and drogue systems, aerial refueling system market is expected to witness expansive growth.

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.

OEMs are expected to exhibit expansive growth and hold massive volume in the aerial refueling system market share over the analysis period. Rising production of aircrafts across the globe is resulting in high revenue generation in OEMs. Over the projected timeframe, OEMs are projected to register a CAGR of over 4.5%, owing to increasing replacement pace of the aircraft refueling components including drogues and hoses, specifically in the ageing aircrafts.

The key industry participants in the aerial refueling system industry are incessantly investing in R&D activities to beatdown the challenges of complex refueling procedures during severe climate conditions.

Consistent technological advancements are furthering aircraft refueling systems. Smart drogue systems are gaining prominence among the manufacturers, as this system is connected to the existing hose, features sensors and steadily controls the movements of the basket. Moreover, smart drogue systems act as an active buffer and leads to momentous reduction in the basket movement. Growing number of innovations coupled with rising investments for novel development in the field is estimated to offer significant growth prospects for aerial refueling system market.

North America is a region that accounts for the growth of market, owing to presence of established manufacturers along with prevalence of multiple alternate aircraft refueling systems including KC-135, KC-130, etc., which will further boost aerial refueling system industry outlook in the region.

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Growing defense budget of United States will contribute substantially towards revenue generation in the market. North America aerial refueling system market trend is projected to showcase sweeping growth, by holding over 50% of the revenue share in aerial refueling market over the forecast timespan.

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About Global Market Insights:
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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