Aerial refueling system market from probe and drogue is likely to showcase dominance with over 70% volume share by 2024. It offers better and passive tanker operations than the flying boom system. Provision of high fuel transferring rate in comparison with flying boom system will further propel the industry growth till 2024.
Military aircrafts are likely to capture highest revenue share, accounting for over USD 2 million over the next eight years owing to high requirement in these aircrafts. Rising defense budget across the globe will further strengthen the product penetration. Aerial refueling system market from helicopters will grow rapidly till 2024 owing to extensive usage of these systems. It is attributed to their low fuel carrying capacities along with rising production across the globe.
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Refueling pods will capture highest revenue share in the aerial refueling system market owing to their prominence in the entire system. The component is responsible for regulating the transfer rate of the fuel. Drogues will exhibit over 3.5% CAGR till 2024 due to high implementation of probe and drogue system around the world. Compatibility with helicopters has resulted in their extensive usage, further fueling the aerial refueling system market from drogues.
OEMs are anticipated to exhibit maximum volume share in the aerial refueling system market by the end of 2024. High revenue generation is attributed to rising production of aircrafts across the globe and their prior installation in the aircrafts. Aftermarket will grow rapidly, exhibiting more than 4.5% CAGR owing to increasing replacement needs of the crucial components including drogues and hoses, particularly in the ageing aircrafts.
North America aerial refueling system market is forecast to procure nearly 50% of the global share by 2024. The country is also home for a host of renowned companies operating in aerial refueling system industry including the likes of Boeing and Lockheed Martin. It has been observed that these giants have been heavily inclining toward strategic alliance with regional air force department to gain a visibility and competitive edge. This is quite coherent from the increased aerial refueling system industry share from military aircraft application, which is slated to surpass USD 2.4 million by 2024.
It is rather claimed that U.S. Navy’s fleet carrier force has no equivalent across the globe, the fundamental aspect that has aided aerial refueling system market progression in the country. Increasing prevalence of a multitude of variants of these systems such as C-160 NG, KC-130, and KC-135 along with substantial aircraft deliveries is likely to significantly contribute toward the regional industry growth.
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Eaton Corporation, Boeing, Zodiac Aerospace, Marshal Aerospace and Defense Group, GE Aviation System, Dassault Aviation, and Lockheed Martin are among the prominent aerial refueling system market participants. Other noticeable competitors include Northstar Engineering Corporation, The Liebherr Group, Omega Aerial Refueling Services, and Smiths. Industry players are involved in contracts and agreements to strengthen their position.
Glimpse of Table of Content (ToC): –
Chapter 6 By System
Chapter 5. Aerial Refueling System Industry, By Component
5.1. Global market share by component, 2016 & 2024
5.2. Refueling pods
5.2.1. Market estimates and forecasts, 2013 – 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.3. Refueling probes
5.3.1. Market estimates and forecasts, 2013 – 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024
5.4.1. Market estimates and forecasts, 2013 – 2024
5.4.2. Market estimates and forecast, by region, 2013 – 2024
5.5.1. Market estimates and forecasts, 2013 – 2024
5.5.2. Market estimates and forecast, by region, 2013 – 2024
5.6.1. Market estimates and forecasts, 2013 – 2024
5.6.2. Market estimates and forecast, by region, 2013 – 2024
Chapter 6. By System
6.1. Global market share by system, 2016 & 2024
6.2. Probe and drogue
6.2.1. Market estimates and forecasts, 2013 – 2024
6.2.2. Market estimates and forecast, by region, 2013 – 2024
6.3. Flying boom
6.3.1. Market estimates and forecasts, 2013 – 2024
6.3.2. Market estimates and forecast, by region, 2013 – 2024
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