Air-to-air Refueling Market Size, Share, Growth and Analysis

 

Air-to-Air Refueling Market

The Air-to-Air Refueling Market is predicted to grow at a faster CAGR over the forecast period (2021-2028).

The factors driving the growth of Air-to-Air Refueling Market includes growing demand for combat aircraft to aid foreign missions, development of advanced light-weight aircraft carriers and rising number of aged aircraft around the world. As per the data available at Statista, the Global Military Aircraft and Aerospace Manufacturing Market size has significantly increased from USD 243 billion in 2020 to reach USD 255.8 in 2021 and this market was majorly dominated by United States based Boeing. Moreover, the increasing military spending by Government across the globe and uncertainties in the current geo-politics situation post 2021, are some of the additional factors augmenting the Air-To-Air Refueling Market share. According to the report published by Stockholm International Peace Research Institute (SIPRI), the Global Military Expenditure in 2021 world military exceeded 2 trillion US dollar mark for the first time in history, to reach $2113 billion, which will boost the Air-To-Air Refueling Market size.

The growth of Air-to-Air Refueling Market is hindered due to high cost associated with installation and maintenance of refueling systems.

The major players operating in the market are Draken International, LLC, Israel Aerospace Industries, obham Limited, Eaton, Airbus S.A.S., Boeing, PARKER HANNIFIN CORP, Lockheed Martin Corporation, Dassault Aviation, Boeing, and GE Aviation among others.

Aircraft Type – Segment Analysis

Based on Aircraft Type, the Fixed Wing segment is predicted to capture a significant market share over the forecast period owing to its increasing use for covering long distances along with its ability to fly in challenging conditions.

End-User – Segment Analysis

Based on Type, the Aftermarket segment is anticipated to grow at a remarkable CAGR during the forecast period because it provides repairing services for damaged hydraulic components such as couplings and nozzles, which are difficult to be fixed.

Regional – Segment Analysis

Based on region, the North American region is predicted to capture the highest market share over the forecast period. The presence of leading players, huge numbers of military aircraft carriers, increasing research and development activities for building advanced combat aircrafts and growing numbers of military aircraft upgradation programs initiated by Governments, are some of the important factors supplementing the market growth in North American region. As per PWC’s Report, Lockheed Martin dominated the global aerospace and defense manufacturing in 2021 and reported a revenue of $67 billion, witnessing a 3% increase as compared to 2020 and its operating profit stood at $9.1 billion.

Market Segmentation

Global Air-to-Air Refueling Market by Component

  • Pumps
  • Valves
  • Nozzles
  • Hoses
  • Boom
  • Probes
  • Fuel tanks
  • Pods
  • Others

Global Air-to-Air Refueling Market by System

  • Probe & Drogue
  • Boom Refueling
  • Autonomous

Global Air-to-Air Refueling Market by Aircraft Type

  • Fixed Wing
  • Rotary Wing

Global Air-to-Air Refueling Market by Type

  • Manned
  • Unmanned

Global Air-to-Air Refueling Market by End-User

  • OEM
  • Aftermarket

Global Air-to-Air Refueling Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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