Aerial Refueling Systems Market to Reach US$ 600.6 million in 2023.

Posted by Stratview Research on October 14th, 2019

The Aerial Refueling Systems Market: Highlights

The Aerial Refueling Systems Market offers a healthy growth opportunity in the entire ecosystem and is likely to reach an estimated value of US$ 600.6 million in 2023. 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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Aerial Refueling Systems Market - Insights by Aircraft Type:

The aerial refueling systems market is segmented based on aircraft type as Combat Aircraft, Helicopter, and UAV. Combat aircraft is likely to remain the growth engine of the aerial refueling systems market during the forecast period of 2018 to 2023. Increasing demand for combat aircraft, owing to rising tensions and high combat aircraft fleet size need multiple tanker aircraft for refueling. The trend is driving the demand for refueling tanker aircraft for the combat aircraft. The UAV segment is likely to witness the highest growth during the forecast period, driven by increasing production of long-range UAVs.

Aerial Refueling Systems Market - Insights by 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 aerial refueling systems market during the forecast period of 2018 to 2023, driven by its low cost and ease in refueling.

Aerial Refueling Systems Market - Insights by Component Type:

The aerial refueling systems market is segmented as Refueling Pods, Refueling Probes, Drogues, Hoses, Boom, and Others. Boom is projected to remain the dominant component of the aerial refueling systems market over the next five years, whereas hose is likely to be the fastest-growing component type during the same period, driven by both OE and aftermarket.

Aerial Refueling Systems Market - Insights by End-User Type:

The aerial refueling systems market is segmented as OE and aftermarket. OE is expected to remain the larger and faster-growing segment of the aerial refueling systems market during the forecast period, driven by increasing demand for new tanker aircraft.

Aerial Refueling Systems Market - Insights by 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, 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.

Source:https://www.stratviewresearch.com/291/aerial-refueling-systems-market.html