Aerial Refueling Systems Marketembed
Aerial Refueling Systems Market: Information by Type (Tanker Aircraft Systems & Receiver Aircraft Systems), by Technology (Probe & Drogue Systems, & Flying Boom Systems) by End-User (OEM & Aftermarket), by Platform, & by Region — Global Forecast til
Aerial Refueling Systems Market Research Report – Global Forecast till 2023 Aerial Refueling Systems Market Research Report – Global Forecast till 2023 Page |1 Copyright © 2017 Market Research Future. Aerial Refueling Systems Market Research Report – Global Forecast till 2023 VIEW REPORT PRESS RELEASE SAMPLE REPORT Page |2 Copyright © 2017 Market Research Future. Aerial Refueling Systems Market Research Report – Global Forecast till 2023 Summary: Aerial Refueling Systems Market is Estimated to Register a CAGR of nearly 4% during the Forecast Period of 2019 to 2023 Market Overview: Aerial refueling refers to transferring fuel from one aircraft to another in mid-air. Aerial refueling process is adopted only in the military aircraft where it becomes vital to remain airborne for a longer time during critical military missions. Both, the tanker and the receiver aircraft should have compatible refueling systems installed in order to perform aerial refueling process. The aerial refueling systems market is growing steadily over the past few years. Factors such as increasing defense budgets to equip forces with advanced systems and focus on upgrading aging military aircraft. Increased use of combat aircraft in military missions are impacting the market growth, positively. Acknowledging, the potential of the market to grow further in the years to come, Market Research Future (MRFR) asserts that the global aerial refueling systems market would grow steadily by 2023, registering approximately 4% CAGR throughout the forecast period (2018-2023). The market is predominantly driven by the augmented demand for futuristic systems and high standard military aircraft. Additional factors bolstering the growth of the market include the rise in defense expenditures, especially in developing countries and subsequent demand for new combat and trainer aircraft. The development of buddy pod technology and autonomous refueling systems are current key trends in the market. OEM Segments is witnessing huge growth due to the integration of these systems during the manufacturing of aircraft. On the other hand, the complexity associated with aerial refueling operations is some of the factors impeding the growth of the market. Nevertheless, rising terrorist attacks and focus on counter operations would support the growth of the market during the forecast period, creating promising growth opportunities for the players operating in the aerial refueling systems market. Segmentation: For a better understanding, the report has been segmented into four key dynamics: By Type: Tanker Aircraft Systems and Receiver Aircraft Systems, among others. By Technology: Probe & Drogue Systems and Flying Boom Systems, among others. By End-user: OEM and Aftermarket, among others. By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World. Page |3 Copyright © 2017 Market Research Future. Aerial Refueling Systems Market Research Report – Global Forecast till 2023 Regional Outlook: North America would retain its dominance over the global aerial refueling systems market due to the rising military expenditures for buying aircraft that are equipped with par excellent systems and technologies. Substantial defense budget alongside, the presence of major players in the region, substantiates the growth of the market. Advancement in technology across the defense sector is some of the key driving forces behind the growth of the regional market. Further, the market is predominantly driven by the augmented demand for the development and procurement of advanced aircraft and quality automated systems that can support military operations in the region. The US military is to receive USD 674 BN in 2019 in support for new destroyers, fighter jets, and Black Hawk helicopters, among others, which would indirectly influence the aerial refueling market in the nation. Similarly, Canada is poised to acquire used F-18 fighter jets from Australia, which would generate a wide scope for the growth of the market in this country. Europe is another lucrative market for aerial refueling systems drawing a substantial share in the global market. Most of the European countries have a robust military force and the significant budgets for their maintenance and upgrades. The increasing upgrade projects for military aircraft are fostering the market growth in the region. Also, the regulatory mandates introduced in the defense sector of the region are providing impetus to the growth of the market. The Asia Pacific aerial refueling systems market perceives a rapid expansion stage due to the increasing military budgets. Growing markets in China, Japan, South Korea, and India, led by large technological advances and improving economic conditions drive the regional market, predominantly. The massive uptake of connected devices and the presence of major players and sensors manufacturing companies act as major tailwinds pushing up the market growth. Furthermore, border disputes and geopolitical issues are some of the major factors fuelling the demand for the aerial refueling systems in the APAC market. Competitive Landscape: Fiercely competitive, the aerial refueling systems market appears to be fragmented due to the presence of many well-established players. Incorporating strategic initiatives such as acquisition, collaboration, expansion, and technology launch, these players try to gain a competitive advantage and maintain their position in this market. Major players driving the market are committed to delivering reliable, leadingedge products & services. Page |4 Copyright © 2017 Market Research Future. Aerial Refueling Systems Market Research Report – Global Forecast till 2023 Competitive Dashboard: Players leading the global aerial refueling systems market include Eaton Corporation plc (Ireland), Cobham plc (UK), General Electric Company (US), Marshall Aerospace and Defence Group (UK), Israel Aerospace Industries Ltd. (Israel), Northstar Engineering, Inc. (US), Safran SA (France), Parker Hannifin Corporation (US), Woodward, Inc. (US), and United Technologies Corporation (US), among others. Industry Updates: June 17, 2019 ---- Opsens Inc. (Canada), a leading global provider for fiber optic sensors for various industrial applications announced that its wholly-owned subsidiary - Opsens Solutions Inc. has partnered with a Spanish aero company involved in manufacturing of aero electronics and electromechanical equipment in the areas of aeronautics - Temai Ingenieros S.L. for commissioning an optical-based fuel monitoring system for a major aircraft manufacturer. This agreement is for over a year of development and ground testing of an aircraft fuel monitoring system based on Opsens Solutions’ fiber optic sensing technology which is first aimed at aerial refueling aircraft, a very demanding application for this type of usage. Page |5 Copyright © 2017 Market Research Future. Aerial Refueling Systems Market Research Report – Global Forecast till 2023 Page |6 Copyright © 2017 Market Research Future.