LOS ANGELES, May 17, 2019 (GLOBE NEWSWIRE) -- The Global Aircraft Refueling Hose Market is estimated to grow at CAGR above 4.8 % over the forecast time frame 2019-2026 and reach the market value around USD 3 billion by 2026.
The proliferation and increase in tanker sizes to support aviation refueling operations will drive growth on the market for military jets on special purpose missions. The increased defense budget, including the United States, China and India, and growing commercial aircraft delivery further propel the significant product demand.
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The increased market share of aircraft refueling hose aircraft will boost the delivery of commercial aircraft with a high demand for lightweight aircraft with improved fuel efficiency. The increasing traffic of air passengers and the growing demand for low-cost carriers promote the use of refuelers in commercial air carriers.
An increasing demand from low-cost carriers will improve the size of hose recharges for aircraft. Increasing adoption of low-cost carriers can be attributed to a large network of low-cost routes. Airlines also aim to reduce customers ' extra services for free and to offer packages at standardized rates that reduce air fares.
Growing demand for advanced refueling equipment and sales is driving the fuel refueling aircraft over time. The wide range of built-in tubing assemblies with various diameters will further encourage business growth. The generation of income is supported by stringent global government regulations mandating periodic product maintenance and replacements of older products that don't meet standards.
The growth of Helicopter In-Flight Refueling (HIFR) systems will be significant due to an increase in the size of the market. A growing demand for helicopters is contributing significantly to the tourism industry. In addition, further market size will increase helicopter applications in various sectors including petroleum and gas, mining, as well as installing refueling hoses for increased reliability and increased fuel flow assurance until 2026.
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Due to increased installation of aircraft refuelers and ongoing technological advances, OEMs accounted for a substantial revenue shares in the airplanes refueling hose market. Participants from industry are developing lightweight fueling tubes to simplify the handling of buckets and satisfy the highest standards. In addition, aircraft manufacturers are concluding strategic agreements for air carriers that fuel U.S. defense requirements services.
Due to the increasing investments of industry participants in advanced technology, North America will experience around 3% of CAGR in aircraft fueling the shale market share. In February 2016, for example, Boeing tanker KC-46 fuelled the F /A-18 with a successful flight. The use of multiple tankers, including theKC-130,C-160andKC-135, with probe & drug systems will also contribute towards a growth of this market over the time frame projected.
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Key Players & Strategies
Eaton, Pear Hose Corp., JGB Enterprises, Inc, Husky Corporation, Parker Hannifin Manufacturing S.r.l., Elaflex, Cobham Plc., Apache Inc. and Aero-Hose Corp. are prominent players for aircraft fueling hose on market sizes. Strategic fusions and acquisitions are a prominent strategy for increasing the market share of industry players. Parker Hannifin Corporation, for example, announced in February 2019 that it had acquired Markwel Hose Products Pvt. Ltd., to complement and enhance the presence of its hose products in Asia-Pacific.
Market players in the field of aircraft refueling of pants develop innovative processes which contribute to the offer of a reliable and efficient refueling of pants. Furthermore, manufacturers are also focused on introducing lower sleeves to improve the system efficiency. The increased demand for advanced hoses is further strengthening the size of the market through upgrade from regions such as North America and Europe as the company spends more consumption on business jets and military jets. In order to maximize their income, industry players are also expanding their operations and production plants.
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