The global Air to Air Refueling market was valued at 537 million USD in the year 2019 that is expected to increase to 692 million USD by the end of 2025, recording a compound annual growth rate of 4.3% during the outlook period 2020 to 2025. The market value is expected to increase more during the forecast period due to the increase of defense expenditure of companies.
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 to 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 leads 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 lesser payload, which is another prominent factor of the global Air to Air Refueling market demand.
Increasing investments by the companies for the new technological advancements is also one of the major growth factors of Air to Air Refueling market. The surge in the number of manufacturers is also helping the expansion in the international marketplace.
Strict regulations from the government authorities is one of the major restraints affecting the growth of the global Air to Air Refueling s 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 the rough air or bad visibility are some of the major challenges affecting the growth of the market for air to air refueling.
Recent Market Developments:-
In the month of January 2019, Boeing company has received a contract from the US Air force to deliver the next generation air refueling tanker aircraft named KC-46 Pegasus.
In the month of December 2018, Airbus company partnered with Lockheed Martin Corporation to provide aerial refueling services to tanker aircraft.
In the month of 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 has introduced its Virtual Refueling that can offer high-reliability hose & drogue performance models, which are capable to seize the interactions of the components the wing pod.
The global Air to Air Refueling market is segmented on the basis of types of aircraft, on the basis of component, on the basis of system, on the basis of type and on the basis of region.
On the basis of types of aircraft, the Air to Air Refueling market is segmented into fighter aircraft, fixed aircraft, tanker aircraft, military transport, unmanned aerial vehicles, rotary-wing, attack helicopters and transport helicopters.
On the basis of components, the market of Air to Air Refueling is separated into valves, nozzles, pumps, hoses, booms, probes, fuel tanks, pods and 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.
On the basis of the system, the market of Air to Air Refueling is divided into probe and drogue, boom refueling, and 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.
On the basis of type, the market of Air to Air Refueling is bifurcated into two types, namely manned and unmanned.
The global Air to Air Refueling market is elaborated in various regions all around the world such as North America (US, Mexico, Canada and rest of North America), Europe (Italy, UK, France, Germany, Spain and 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 to Air Refueling because the military aviation sector is growing steadily in this area. Furthermore, increasing military aircraft upgrades and research and development of advanced military aircraft platforms is also helping the growth of the revenue rate in North America 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 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 of the global Air to Air Refueling market are Parker Hannifin Corporation (US), Marshall Aerospace and Defence Group (UK), Cobham (UK), Eaton Corporation (US), Airbus (Netherlands), GE Aviation (US), Safran (France) and Draken International (US).
COVID-19 impact on the Air to Air Refueling Market:-
Due to the coronavirus pandemic, all the companies are facing difficulties in the production and demand, delay in the supply chain, and financial crisis. Companies have halted their manufacturing units due to the strict lockdown regulations imposed by the government authorities. As we are aware that 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 have lifted the lockdown and gave permissions 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 their financial crisis.
In the global Air to Air Refueling market, the companies were expecting that the business will 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.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Air to Air Refueling Market, By Aircraft
6.1.1 Fighter Aircraft
6.1.2 Fixed Aircraft
6.1.3 Tanker Aircraft
6.1.4 Military Transport
6.1.5 Unmanned Aerial Vehicles
6.1.6 Rotary Wing
6.1.7 Attack Helicopters
6.1.8 Transport Helicopters
6.1.9 Market Size Estimations & Forecasts (2019-2024)
6.1.10 Y-o-Y Growth Rate Analysis
6.1.11 Market Attractiveness Index
6.2 Air to Air Refueling Market, By Component
6.2.7 Fuel Tanks
6.2.9 Market Size Estimations & Forecasts (2019-2024)
6.2.10 Y-o-Y Growth Rate Analysis
6.2.11 Market Attractiveness Index
6.3 Air to Air Refueling Market, By System
6.3.1 Probe and Drogue
6.3.2 Boom Refueling
6.3.4 Market Size Estimations & Forecasts (2019-2024)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
6.4 Air to Air Refueling Market, By Type
6.4.3 Market Size Estimations & Forecasts (2019-2024)
6.4.4 Y-o-Y Growth Rate Analysis
6.4.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Aircraft
7.2.3 By Component
7.2.4 By System
7.2.5 By Type
7.3.1 By Country
22.214.171.124 Rest of Europe
7.3.2 By Aircraft
7.3.3 By Component
7.3.4 By System
7.3.5 By Type
7.4 Asia Pacific
7.4.1 By Country
126.96.36.199 South Korea
188.8.131.52 South East Asia
184.108.40.206 Australia & NZ
220.127.116.11 Rest of Asia-Pacific
7.4.2 By Aircraft
7.4.3 By Component
7.4.4 By System
7.4.5 By Type
7.5 Latin America
7.5.1 By Country
18.104.22.168 Rest of Latin America
7.5.2 By Aircraft
7.5.3 By Component
7.5.4 By System
7.5.5 By Type
7.6 Middle East and Africa
7.6.1 By Country
22.214.171.124 Middle East
7.6.2 By Aircraft
7.6.3 By Component
7.6.4 By System
7.6.5 By Type
8. Key Player Analysis
8.1 Parker Hannifin Corporation
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Marshall Aerospace and Defence Group
8.3 Cobham Plc
8.4 Eaton Corporation
8.6 GE Aviation
8.8 Draken International
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures