Global Air Refueling Market

Air Refueling is defined as the procedure of transferring fuel from one military aircraft to another during flight. Air refueling also reduces fuel consumption on long-distance flights. The air refueling systems consist of probe and drogue, boom refueling, and autonomous which provides faster fuel transfer. It is highly important procedure for military aircrafts, where the extra fuel received can lead to aircrafts to remain airborne for a longer time. In this way, the range of the aircraft and its functioning capability can significantly increase.

Market Drivers

The increase in development of lightweight and advanced aircraft is a key driving factor which expected to boost the global air refueling market growth over the forecast period. Key operating players are focused on enhancing tanker aircraft to serve various military planes like fighter jets, bombers, and unmanned systems. Furthermore, the increase in military aircraft upgrades and the presence of major manufacturer are expected to accelerate the global air refueling market growth.

Moreover, the increase in demand for autonomous refueling system will positively influence the market growth. In addition, the increase in investment in military modernization programs in various countries with the rising procurement of advanced fighter planes is expected to propel the global air refueling market growth throughout the forecast period. For instance, in May 2020, as per the information provided by Center for strategic and International Studies, China’s defense budget had experienced a substantial growth of around6.6.6% (USD 178.2 Billion).

Market Restraints

High installation and maintenance cost is a major restraining factor which expected to hamper the growth of global air refueling market over the forecast period. The high installation cost of the air refueling systems restricts all countries from adopting air refueling systems.

Market Segmentation

The Global Air Refueling Market is segmented into components such as Pumps, Valves, Nozzles, Hoses, Boom, Probes, Fuel tanks, Pods, and Others. On the basis of system, market is segmented into Probe & Drogue, Boom Refueling, and Autonomous. Based on the aircraft type, market is segmented into Fixed Wing, and Rotary Wing. On the basis of type, market is segmented into Manned, and Unmanned. Further, market is segmented into end user such as OEM, and Aftermarket. The aftermarket segment is estimated to lead the air refueling market over the forecast period. The aftermarket companies provide complete maintenance, repair, and overhaul services. Also, they provide repairing services for over-the-counter products in case hydraulic components such as couplings, pumps, and nozzles are damaged beyond repair.

Regional Analysis

The Global Air Refueling Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

North America region is one of the leading markets for Air Refueling due to the growing R&D activities, deployment and the presence of key players such as GE Aviation, Eaton Corporation and others would drive the air refueling market growth in the region. Further, APAC is expected to witness remarkable growth throughout the forecast period. Due to the increase in investments in the military & defense sectors from India, China, Japan, and Australia.

Key Players

Some key operating players are listed in the report such as Eaton Corporation, GE Aviation, Airbus S.A.S., Parker Hannifin Corporation, Marshall Aerospace and Defence Group, Israel Aerospace Industries, Draken International, Cobham plc, Boeing, Safran, etc. Key players are focused on enhancing the capabilities of the cost-effective air refueling systems by enabling more aircraft refueling.

Market Taxonomy

By Component

• Pumps
• Valves
• Nozzles
• Hoses
• Boom
• Probes
• Fuel tanks
• Pods
• Others

By System

• Probe & Drogue
• Boom Refueling
• Autonomous

By Aircraft Type

• Fixed Wing
• Rotary Wing

By Type

• Manned
• Unmanned

By End User

• OEM
• Aftermarket

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Air Refueling Market?
• What will be the growth rate from 2019 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?