Aerial Refueling Systems Market Scenario:
The Global Aerial Refueling Systems Market has been segmented by type, platform, technology, end-user and region. Based on type, the Aerial Refueling Systems Market is divided into tanker aircraft systems and receiver aircraft systems. In 2017, the tanker aircraft systems segment accounted for the largest market share as it covers various components such as pumps, valves, control manifolds, surge control devices, hoses, boom/drogue transfer system, among others which enables effective refueling. Based on platform, the Aerial Refueling Systems Market is divided into fixed wing and rotary wing. In 2017, the fixed wing segment accounted for the largest market share as these aircraft provide various advantages such as long endurance, large area coverage during surveillance, and faster flight speed.
Based on technology, the Aerial Refueling Systems Market is divided into probe & drogue system and flying boom systems. In 2017, the probe & drogue segment accounted for the largest market share as it has simpler tanker design, eliminates boom operator, and is presently used in many tankers. Based on end-user, the Aerial Refueling Systems Market is divided into OEM and Aftermarket. In 2017, the OEM segment accounted for the largest market share as various aircraft manufacturers are readily integrating these systems with their offerings. The Global Aerial Refueling Systems Market is estimated to register a CAGR of nearly 4% during the forecast period of 2018 to 2023.
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Aerial Refueling Systems Market Segments:
The Global Aerial Refueling Systems Market has also been segmented into four regions, namely, North America, Europe, Asia-Pacific, and Rest of the World. North America is estimated to account for the largest share during the review period. North America region in this report includes the US and Canada. The US military is likely to receive USD 674 billion in support in 2019 for new destroyers, fighter jets, Black Hawk helicopters, among others, which indirectly influences the aerial refueling market in this country. Similarly, Canada is set to acquire used F-18 fighter jets from Australia, which generates a further scope of the market in this country.
Aerial refueling is the method of transferring fuel from one aircraft to another in mid-air. The fuel transferring aircraft is known as the tanker while the receiving aircraft is termed as the receiver. This process is adopted only in the military aircraft. Aerial refueling is vital in enabling the receiver aircraft to remain airborne for a longer time, which is critical during military missions. Presently, the aerial refueling system is used by the defense organizations of nearly 35 countries around the world. Both the tanker and the receiver aircraft should have compatible refueling systems installed in order to perform aerial refueling.
Factors such as focus on upgrading in aging military aircraft and increased use of combat aircraft in military missions are positively impacting the Aerial Refueling Systems Market growth. In addition, the rise in defense expenditure, especially in developing countries and subsequent demand for new combat and trainer aircraft further boosts the market growth. However, the complexity associated with aerial refueling operations hinders market growth to a certain extent. Meanwhile, rising terrorist attacks and focus on counter operations create promising growth opportunities for the aerial refueling systems market. Furthermore, development of buddy pod technology and autonomous refueling systems are key trends in the market.
Key Players in Aerial Refueling Systems Market:
The key players in the Global Aerial Refueling Systems Market are:
- Cobham plc (UK),
- Eaton Corporation plc (Ireland)
- General Electric Company (US)
- Israel Aerospace Industries Ltd. (Israel)
- Marshall Aerospace and Defence Group (UK)
- Northstar Engineering, Inc. (US)
- Parker Hannifin Corporation (US)
- Safran SA (France)
- United Technologies Corporation (US)
- Woodward, Inc. (US)
The report on the Global Aerial Refueling Systems Market by Market Research Future covers extensive primary research. This is accompanied by a detailed analysis of the qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance.
The report offers a clear picture of the current market scenario, which includes the historical and forecast market size, in terms of value, and the technological, macroeconomic, and governing factors of the market. The report also provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Table Of Contents:
1. Executive Summary
2. Market Introduction
2.1. Market Definition
2.2. Scope Of The Study
2.3. Market Structure
2.4. Key Takeaways
2.5. Key Buying Criteria
3. Research Methodology
Continue……..
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