North America Region Witnessing Highest Growth in Air-to-Air Refueling Market
Posted by Sandeep Roy on February 21st, 2022
The report \"Air-to-Air Refueling Market by System (Probe & Drogue, Boom Refueling, Autonomous), Component (Pumps, Valves, Hoses, Boom, Probes, Fuel Tanks, Pods), Aircraft Type (Fixed, Rotary), Type (Manned, Unmanned), End User, Region - Global Forecast to 2025\\\", size is projected to grow from an estimated USD 501 million in 2020 to USD 851 million by 2025, at a CAGR of 11.2% during the forecast period. This growth can be attributed to the increasing demand for combat aircraft and military spending of various countries.
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The fuel tank segment accounts for the largest market size during the forecast period
Based on component, the fuel tank segment is estimated to account for the highest share in the air-to-air refueling market in 2020. A fuel tank system is one of the important component of air-to-air refueling system as it increases the safety of fuel systems in an aircraft. This system is placed in the fuel tank of the aircraft and stores non-flammable gases, such as nitrogen. A fuel tank operates during a flight when the bleed air is supplied.
The boom refueling segment is projected to grow at the highest CAGR during the forecast period
Based on system, boom refueling segment is projected to lead air-to-air refueling market during forecast period. Most tanker aircraft use boom refueling systems, which consist of a rigid tube that helps an operator on tanker aircraft to extend the boom tube and insert it into a vessel on the aircraft being refueled. The growth of boom refueling segment can be attributed to its ability of transferring fuel as fast as possible. Since the boom is rigid, it is capable of a higher transfer rate as compared to probe and drogue.
The manned segment accounts for the largest market size during the forecast period
Based on type, manned segment is projected to lead air-to-air refueling market during forecast period. The rising adoption of air-to-air refueling through manned systems by military and naval forces across the globe is expected to fuel the growth of the manned segment.
The fixed wing segment accounts for the largest market size during the forecast period
Based on aircraft type, fixed-wing segment is estimated to lead air-to-air refueling market during forecast period. A fixed wing aircraft attains flight using wings fixed to the fuselage to generate the necessary lift using the forward motion of the aircraft. The fixed wing aircraft segment is experiencing growth as it can be used for longer travel distances and have better aerodynamic structures than rotary wing aircraft. Fixed wing aircraft can also take flight in challenging conditions and environments.
The aftermarket segment accounts for the largest market size during the forecast period
Based on end user, the air-to-air refueling market has been segmented into OEM and Aftermarket. The aftermarket segment is estimated to lead the air-to-air refueling market during the forecast period. The aftermarket companies offer complete maintenance, repair, and overhaul services. For example, damaged components of air-to-air refueling systems, such as hydraulic systems, fuel management systems, and safety systems, are considered for maintenance, repair, and overhaul. The aftermarket also offers repairing services for over-the-counter products in case hydraulic components such as pumps, couplings, and nozzles are damaged beyond repair.
North America is projected to grow at the highest CAGR during the forecast period.
North America is one of the leading markets for air-to-air refueling systems in terms of research and development activities, deployment, and the presence of key market players. The major countries under this region are the US and Canada. The US leads the air-to-air refueling market in North America. The military aviation sector in North America is growing steadily, consequently created a significant demand for air-to-air refueling systems. The presence of major players, OEMs, and component manufacturers are one of the key factors expected to boost the air-to-air refueling market in North America. The US is expected to drive the growth of the North American air-to-air refueling market. An increasing number of military aircraft upgrade programs, ongoing research and development of advanced military aircraft platforms, and the presence of major systems and components manufacturers are expected to lead to a surge in demand for air-to-air refueling systems in North America during the forecast period.
Key Market Players
Major players operating in the air-to-air refueling market Cobham plc (UK), Eaton Corporation (US), Airbus (Netherlands), Boeing (US), and GE Aviation (US).among others.
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About the AuthorSandeep Roy
Joined: August 7th, 2019
Articles Posted: 273
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