The Refueling Aircraft by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Refueling Aircraft, The refueling aircraft market size has grown strongly in recent years. It will grow from $11.1 billion in 2023 to $11.78 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to military operations and conflicts, commercial aviation growth, global geopolitical changes, airline alliances and partnerships, fuel price fluctuations.
The refueling aircraft market size is expected to see strong growth in the next few years. It will grow to $14.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to expansion of commercial aviation, technological advancements in refueling systems, shift towards eco-friendly fuels, rise in air force modernization programs, regulatory changes and safety standards. Major trends in the forecast period include automation in refueling systems, use of unmanned aerial vehicles (uavs), adoption of autonomous technologies, advanced fueling techniques, enhanced safety measures.
The growing frequency of air travelers is expected to propel the growth of the refueling aircraft market. Air travelers refer to people who travel by airplane. With more people travelling by air, there will be a growing need to operate aeroplanes, which raises fuel consumption and the need for aircraft refueling. For instance, in March 2022, according to the Bureau of Transportation Statistics, a division of the US Department of Transportation that publishes information on transportation, US airlines transported 674 million individuals in 2021, which was 82.5% higher than that of 2020 (369 million). 612 million passengers travelled on domestic flights in 2021, and 62 million passengers travelled on international flights. Therefore, the growing frequency of air travelers is driving the growth of the refueling aircraft market.
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The refueling aircraft market covered in this report is segmented –
1) By Refueling Medium: Air To Air Refueling, Flying Boom Method, Probe And Drogue Method, Tanking Method, Other Refueling Mediums
2) By Component: Aviation Refueller, Dispenser, Refueling Pods, Probe And Drogue, Other Components
3) By Application: Commercial Airplane, Military Airplane, Combat Aircraft, Non-Combat Aircraft, Helicopters
Product innovation is the key trend in the refueling aircraft market. Major companies operating in the refueling aircraft market are focused on developing innovative products to strengthen their position in the market. For instance, in September 2021, Lockheed Martin Corporation, a US-based corporation for aerospace, weaponry, military, information security, and technology, launched LMXT, the next strategic tanker. The LMXT provides the most cutting-edge aerial refueler to meet America’s current and long-term mission objectives, enhancing tanker capabilities in the United States Air Force. The potential benefits of the LMXT capabilities, which were created to fulfil operator requirements, include increased range and fuel offload capacity. It is the first completely automated boom/air-to-air refueling (A3R) system in the world.
The refueling aircraft market report table of contents includes:
1. Executive Summary
2. Refueling Aircraft Market Characteristics
3. Refueling Aircraft Market Trends And Strategies
4. Refueling Aircraft Market – Macro Economic Scenario
5. Global Refueling Aircraft Market Size and Growth
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31. Global Refueling Aircraft Market Competitive Benchmarking
32. Global Refueling Aircraft Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Refueling Aircraft Market
34. Refueling Aircraft Market Future Outlook and Potential Analysis
35. Appendix
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