Air to Air Refueling Market

Global Air-to-Air Refueling Market Size (2023 to 2028)

The global air-to-air refueling market size is expected to be worth USD 584.17 Million in 2023. It is expected to grow at a CAGR of 4.30% during the forecast period and reach a value of USD 721.04 Million by 2028.

The growing defense expenditures are one of the significant factors supporting the growth of the air-to-air refueling market. Air-to-air refueling is the process of sending aviation fuel from one aircraft to another when both are in their flight modes, where the aircraft that transfers the fuel is called a tanker, and the aircraft that gets the fuel is called the receiver. These are very important, especially for military aircraft, in which the extra fuel can help them remain airborne for a long period of time. One of the major driving factors of the global Air to Air Refueling market is the rapid growth of defense spending by the countries and technological advancements that lead to the development of new weapons around the world. There is an increasing need for air-to-air refueling as it helps in takeoff with less payload, which is another prominent factor in the global air-to-air refueling market growth. Increasing investments by the companies for the new technological advancements is also one of the major growth factors of the Air Refueling market. The surge in the number of manufacturers is also helping the expansion of the international marketplace.

Strict regulations from the government authorities are one of the major restraints affecting the growth of the global air-to-air refueling market. Also, these devices are quite expensive, which is acting as a limitation to the development of the business. The procedure of refueling aircraft in rough air or bad visibility is one of the major challenges affecting the growth of the market for air-to-air refueling.

Impact of COVID-19 on the air-to-air refueling market:

Due to the coronavirus pandemic, all the companies are facing difficulties in production and demand, delays in the supply chain, and financial crises. Companies have halted their manufacturing units due to the strict lockdown regulations imposed by the government authorities. As we are aware, since March 2020, all the companies have closed and due to the financial crisis, they have terminated employees due to their inability to pay their salaries and are facing severe problems.

Slowly, all the countries lifted the lockdown and gave permission to the companies to restart their operations with strict rules and regulations. So, the companies have started their manufacturing units, which in turn started the supply chain of their products and is likely to help them recover from their financial crisis. In the global air-to-air refueling market, the companies were expecting that the business would gain some profits in the upcoming two to three years with increasing military aircraft upgrades, research and development of advanced military aircraft platforms, and other activities. Furthermore, increasing defense sector initiatives by the government will also boost the market to grow further during the projection period.

REPORT COVERAGE:

This research report on the global air-to-air refueling market has been segmented and sub-segmented into the following categories.

Global Air-to-Air Refueling Market – By Aircraft: 

• Fighter Aircraft
• Fixed Aircraft
• Tanker Aircraft
• Military Transport
• Unmanned Aerial Vehicles
• Rotary-Wing
• Attack Helicopters
• Transport Helicopters

Global Air-to-Air Refueling Market – By Components: 

• Valves
• Nozzles
• Pumps
• Hoses
• Booms
• Probes
• Fuel Tanks
• Pods
• Other Components

Among these, the fuel tanks segment holds the major share of the market as it increases the safety of the fuel system in an aircraft.

Global Air-to-Air Refueling Market – By System: 

• Probe and Drogue
• Boom Refueling
• Autonomous

Among these, the probe and drogue segment holds the major share of the market since these are the main systems that are used to carry out air-to-air refueling.

Global Air-to-Air Refueling Market – By Type: 

• Manned
• Unmanned

Global Air-to-Air Refueling Market – By Region:

• North America
• Europe
• APAC
• Latin America
• Middle East and Africa

The global Air-to-Air Refueling market is elaborated in various regions all around the world, such as North America (US, Mexico, Canada, and the rest of North America), Europe (Italy, UK, France, Germany, Spain, and the Rest of Europe), Asia Pacific (India, Japan, China, Australia and rest of Asia Pacific) and the rest of the world.

Among these regions, North America holds the major share of the market for Air-Air Refueling because the military aviation sector is growing steadily in this area. Furthermore, increasing military aircraft upgrades and the research and development of advanced military aircraft platforms are also helping the revenue rate grow in the North American region.

Europe holds the second-largest share of the Air to Air Refueling market because of the rise in defense spending by the companies in the locale, which will also support business growth in the future.

The Asia Pacific region is expected to witness an increase in the market during the forecast period due to the hike in government initiatives in the defense sector.

KEY MARKET PLAYERS:

Some of the key players in the global Air to Air Refueling Market are Parker Hannifin Corporation (US), Marshall Aerospace and Defense Group (UK), Cobham (UK), Eaton Corporation (US), Airbus (Netherlands), GE Aviation (US), Safran (France) and Draken International (US).

RECENT HAPPENINGS IN THE MARKET:

• In January 2021, Boeing Company received a contract from the US Air Force to deliver the next-generation air refueling tanker aircraft named KC-46 Pegasus.
• In December 2018, Airbus Company partnered with Lockheed Martin Corporation to provide aerial refueling services to tanker aircraft.  
• In January 2015, Eaton Corporation collaborated with AVIC Aircraft Company ltd to supply fuel distribution and fuel tank inerting systems for the MA700 regional turboprop airliner.
• In June 2017, Cobham Plc. Introduced its Virtual Refueling, which can offer high-reliability hose & drogue performance models that can seize the interactions of the components of the wing pod.