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Aerial Refueling Systems Market Size
Aerial Refueling Systems Market size valued at USD 4.3 million in 2019 and is expected to grow at over 4% CAGR from 2020 to 2026.
Increasing tanker aircraft demand with rising defense budget across developed and emerging economies will boost the market revenue. Growing frequency of sorties away from ground bases has made refueling an essential mission component. The AAR supports overseas deployment in a short notice. Rising adoption of effective methods for increasing endurance and range of aircrafts will propel the aerial refueling systems market growth.
The aerial refueling tankers are undergoing transformation to enhance airspeed, altitude, and range. The industry players are working to increase suitability for severe environments, lower lifecycle costs, autonomous operation, and roll on & roll off capability.
Inflight refueling is a complex undertaking owing to aircraft speed and proximity. Tanker advancement to reduce associated risks, operator workload and minimizing contact time will enhance product penetration. AAR systems are adopting ISR (Intelligence, Surveillance and Reconnaissance) capabilities to track receiver and widen operating envelop. In addition, development of airborne tankers with higher lifting capability will influence the market growth.
What is the anticipated growth for the aerial refueling systems industry share during the forecast period?
The industry share of aerial refueling systems is expected to grow at over 4% CAGR from 2020 to 2026.
Which are the prominent aerial refueling system manufacturers across the globe?
The key industry participants include Lockheed Martin, Boeing, Cobham Plc, Zodiac Aerospace, Eaton Corporation, GE Aviation System, Engineering Corporation, Northstar and Omega Aerial Refueling Services, lnc.
How has North America region fared in the aerial refueling systems industry?
According to Global Market Insights, Inc., North America accounted for over 50% market share in 2019 owing to presence of the largest refueling fleets.
What are the estimates for probe & drogue aerial refueling systems market?
According to the analysts at GMI, probe & drogue systems will register gains of around 3.5% between 2020 and 2026 due to the flexibility they provide.
What was the estimated global aerial refueling systems market size in 2019?
The market size of aerial refueling systems was valued at USD 4.3 million in 2019.