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The Aerial Refueling Systems Market is likely to witness a CAGR of 8.8% during the forecast period. The prime factors that are driving the Aerial Refueling Systems Market is its superior thermal conductivity property leading to its wide usage in a wide array of industries.
Key Players
The following are the key players in the Aerial Refueling Systems Market:
Cobham Plc.,
Eaton Corporation,
Safran S.A. (Zodiac Aerospace),
GE Aviation Systems,
Marshall Aerospace and Defense Group.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Aerial Refueling Systems Market value and growth drivers over the trend period of 2019-24. According to the report -
As per Stratview Research, the global aerial refueling systems market offers a healthy growth opportunity in the entire ecosystem and is likely to reach an estimated value of US$ 671.9 million in 2024. 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.
Segment Analysis:
Based on Aircraft Type:
The market is segmented based on the aircraft type as Combat Aircraft, Helicopter, and UAV. Combat aircraft is likely to remain the growth engine of the market during the forecast period. Increasing demand for combat aircraft, owing to rising tensions, and large aging combat aircraft fleet size and a greater need of multiple tanker aircraft for refueling are the major factors that are proliferating the demand for refueling systems in the segment. The UAV segment is likely to witness the highest growth during the forecast period, driven by increasing production of long-range UAVs.
Based on Region:
In terms of 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 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.
Critical Questions Answered in the Report
- What are the key trends in the Aerial Refueling Systems Market?
- How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
- What is the impact of COVID-19 on Aerial Refueling Systems Market?
- What are the key strategies adopted by the major vendors to lead in the Aerial Refueling Systems Market?
- What is the market share of the top vendors?
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