Pune, Oct. 26, 2023 (GLOBE NEWSWIRE) -- “The SNS Insider report indicates that the Air-to-Air Refueling Market had a valuation of USD 630.31 million in 2022, with projections suggesting it will attain USD 1323.85 million by 2030, experiencing a compound annual growth rate (CAGR) of 9.72% throughout the forecast period spanning from 2023 to 2030.”
Market Overview
Air-to-air refueling, often referred to as aerial refueling or in-flight refueling, is a critical aviation technique that enables aircraft to receive fuel from another aircraft while both are in flight. This process allows military and civilian aircraft to extend their operational range, endurance, and mission capabilities, making it an indispensable aspect of modern air travel and military operations. It allows aircraft to cover longer distances, undertake extended missions, or loiter in an area for a longer duration. Military operations can be more adaptable because aircraft can be refueled in the air, reducing the need for forward operating bases and increasing response times.
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Market Analysis
The air-to-air refueling market is poised for significant growth in the coming years, driven by several key factors that are reshaping the aerospace and defense industry. As nations around the world continue to modernize their military forces, air-to-air refueling capabilities have become a critical component of power projection and strategic mobility. To maintain a competitive edge, countries are investing in advanced refueling technologies and expanding their fleets of tanker aircraft. Many countries are increasing their defense budgets to address evolving security challenges. This financial commitment is translating into higher investments in air-to-air refueling capabilities, including the procurement of new tanker aircraft and the modernization of existing fleets. Commercial air travel has also seen a significant boost in long-haul flights, which has spurred the need for air-to-air refueling for military aircraft on extended missions. This includes scenarios like transcontinental troop deployments and long-duration reconnaissance missions.
Major Players Listed in this Report are:
- Jeppesen
- PARKER HANNIFIN CORP
- Cobham Limited
- Eaton
- Marshall Aerospace and Defence Group
- Draken International
- BAE Systems
- GE
- Safran
- Airbus S.A.S. & Other Players
Air-to-Air Refueling Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 630.31 Million |
| Market Size by 2030 | US$ 1323.85 Million |
| CAGR | CAGR of 9.72% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Key Takeaway from Air-to-Air Refueling Market Study
- The military transport segment is poised to assert its dominance, shaping the future of aerial refueling operations. Military transport aircraft are renowned for their versatility. They can perform a wide array of missions, from humanitarian aid and disaster relief to tactical troop deployments.
- The pumps segment offers a wide range of solutions, catering to various aircraft types and refueling systems. From centrifugal pumps for high-flow applications to positive displacement pumps for more controlled transfers, this segment provides adaptable solutions to meet the diverse needs of military aviation.
Recent Developments
- In a groundbreaking move toward greener aviation, AIR COMPANY, a pioneering leader in the sustainable aviation fuel (SAF) industry, has recently unveiled an exciting collaboration with Air Canada. This partnership marks a significant step forward in the aviation industry's collective commitment to reducing its carbon footprint and addressing the challenges of climate change.
- Boeing has recently secured a significant contract to manufacture and deliver two KC-46A aerial refueling aircraft, along with advanced avionics systems, for Japan in a deal valued at $398.2 million. This development underscores the ongoing partnership and collaboration between Boeing and Japan, bringing cutting-edge aviation technology to bolster Japan's defense capabilities.
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Market Dynamics Analysis
The air-to-air refueling market is experiencing a dynamic landscape driven by a confluence of factors. On the driver's side, the growing global demand for extended mission capabilities is a pivotal force, compelling military and commercial aviation sectors to invest in air-to-air refueling solutions. This heightened demand stems from an increasing need for long-range military operations, disaster relief missions, and prolonged flight durations for commercial airlines. Additionally, the modernization of existing tanker fleets, such as the KC-46 Pegasus and Airbus A330 MRTT, has also spurred market growth. However, the industry faces its share of restraints, primarily budgetary constraints in defense spending and the complexity of integrating refueling systems into existing aircraft. Moreover, regulatory challenges and concerns regarding environmental impacts are emerging as prominent hurdles. The threat landscape, on the other hand, includes the proliferation of anti-access/area denial (A2/AD) systems, which could potentially limit the effectiveness of air-to-air refueling operations in contested environments. To navigate these dynamics successfully, industry stakeholders must innovate in terms of efficiency, automation, and adaptability while addressing the challenges and threats head-on.
Key Regional Developments
North America, led by the United States, is a dominant player in the air-to-air refueling market. The U.S. Air Force operates one of the largest fleets of aerial refueling tankers globally, with the Boeing KC-135 Stratotanker and the newer KC-46 Pegasus. Europe is another significant market for air-to-air refueling capabilities. NATO member countries collaborate extensively on air mobility and aerial refueling operations to ensure interoperability and strengthen their collective defense capabilities. The Asia-Pacific region is witnessing substantial growth in its market, driven primarily by China's military modernization efforts and territorial disputes in the South China Sea.
Impact of Recession on Air-to-Air Refueling Market Growth
A recession can undoubtedly pose challenges to the air-to-air refueling market due to reduced defense budgets and economic uncertainties. However, the extent of the impact can vary depending on geopolitical factors and the adaptability of industry players. While there may be setbacks, opportunities for growth and innovation can also emerge as the market evolves to meet changing demands and economic conditions. To weather the impact of a recession, companies in the market may diversify their offerings. This could include expanding into related fields, such as cargo and aerial transportation services.
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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Air-to-Air Refueling Market Segmentation, By Aircraft Type
9. Air-to-Air Refueling Market Segmentation, By Type
10. Air-to-Air Refueling Market Segmentation, By Component
11. Air-to-Air Refueling Market Segmentation, By System
12. Air-to-Air Refueling Market Segmentation, By End-User
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. Conclusion
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