Global Aerial Refuelling System Market is expected to reach XX Billion by 2026 from 2.91 Billion in 2019 at CAGR of XX %.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Aerial Refuelling System market is majorly segmented by the application, component, system, distribution channel and region wise. Based on application segment military aircraft is expected to dominate the global Aerial Refuelling System market in 2017. Extensive usage of this system by the military sector across the globe will primarily contribute towards the substantial revenue generation. The rising defense budget of various countries across the globe will further support the industry dominance.
Aerial refueling system can be also segmented based on component where the drogues segment held highest market share. Manufacturers are extensively using probe and drogue system for aircraft refueling owing to its advantages. This has resulted in their high production, therefore positively impacting the market. Moreover, high usage in helicopters will further escalate the revenue generation over the next eight year as well.
High acceptance from the military sector coupled with increasing defense budgets of various countries across the globe will primarily drive the industry growth. The high defense budget has resulted in a substantial demand for tanker aircraft, especially in developing countries, further impacting the industry positively.
Demand for special purpose military jets has witnessed a considerable rise over the past years. Moreover, the emergence of multi-role aircraft tankers and their extensive usage owing to the benefits such as less fuel consumption will escalate the revenue generation. However, high incidences of accidents during refueling procedures may pose a challenge before the market participants. The downside of boom mechanism such as a high requirement of reducing the pressure while filling the combat aircraft will restrain the industry growth over the next eight years. Moreover, this mechanism is not compatible with the helicopters, therefore negatively impacting the industry penetration.
Several market participants are involved in agreements and contracts with air force to enhance their visibility and gain a competitive edge. For instance, in 2011, Boeing signed a contract with U.S. air force to acquire 179 KC-46A tankers to prepare for the warfighter needs and re-capitalize its ageing fleet. The established industry participants are likely to respond to these emerging trends by offering long-term service support coupled with regular advancements for capturing new business opportunities.
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In terms of region, Aerial Refuelling System market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America held the highest market in 2017. Substantial aircraft deliveries coupled with the presence of multiple variants of refueling tankers such as KC-130, KC-135, C-160 NG, etc, especially in the U.S. will primarily contribute to the revenue generation. Moreover, the presence of established industry participants such as Lockheed Martin and Boeing will further support the regional dominance. The rising defense budget of the U.S. is another factor that is positively impacting the regional growth. In 2017, the defense budget of India was around USD 55 billion which monitored 7% rise from the previous year. Similarly, China’ defense budget rose by 7% in 2017 to USD 151 billion. This has strengthened the spending power of developing countries, inducing immense potential to the market till 2026.
Key player across the aerial refueling system industry are Dassault Aviation, Eaton Corporation, Zodiac Aerospace, and Marshall Aerospace & Defense Group. The industry is likely to witness immense competition owing to the adoption of aggressive strategies including mergers & acquisitions, agreements, and new product development by the competitors to gain high visibility.
For instance, in October 2017, Cobham entered into a long-term supply agreement with Icon Aerospace Technology for its in-flight refueling hoses across various aircraft platforms. In December 2017, Boeing introduced a self-flying aircraft for refueling the military aircraft in mid-air that was designed as a part of the competition held by U.S. Navy. This product development helped the company in capturing considerable market share in the market and expand its product portfolio.
The objective of the report is to present comprehensive analysis of Aerial Refuelling System market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Aerial Refuelling System market dynamics, structure by analyzing the market segments, and project the Aerial Refuelling System market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Aerial Refuelling System market make the report investor’s guide.
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The Scope of the Aerial Refuelling System Market:
Global Aerial Refuelling System Market, by Application:
• Military Aircraft
• Commercial Aircraft
Global Aerial Refuelling System Market, by Component:
• Refueling Pods
• Refueling Probes
Global Aerial Refuelling System Market, by System:
• Probe and Drogue
• Flying Boom
Global Aerial Refuelling System Market, by Distribution Channel:
Global Aerial Refuelling System Market, by Geography:
• North America
• Middle East & Africa
• Latin America
Key Players operating in the Aerial Refuelling System Market:
• Cobham PLC
• GE Aviation System
• Lockheed Martin Corporation
• Dassault Aviation
• Eaton Corporation
• Zodiac Aerospace
• Marshal Aerospace & Defense Group
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