Sizing and Forecast
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..
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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
Europe was the largest region in the refueling aircraft market in 2023. The regions covered in the refueling aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the refueling aircraft market are adopting a strategic partnership approach, aiming to boost refueling innovation. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in June 2023, the Boeing Company, a US-based corporation that manufactures and markets aircraft and refueling aircraft, announced a partnership with Aurora Flight Sciences to keep developing future-oriented aerial refueling operation capabilities. Boeing and Aurora invested in new mission technologies for these and future mobility systems. Boeing and Aurora have announced additional investment in enhanced defense systems and countermeasures for use on next-generation refueling and transportation platforms, such as the KC-46A Pegasus. Aurora is in charge of doing preliminary research and conceptual design of composite elements to improve operating survivability for aerial refueling and mobility operations. This endeavor will also concentrate on Aurora Mississippi’s producibility and manufacturing. Aurora Flight Sciences is a US-based subsidiary of Boeing that manufactures unmanned aerial vehicles.
The refueling aircraft market report table of contents includes:
1. Executive Summary
2. Refueling Aircraft Characteristics
3. Refueling Aircraft Trends And Strategies
4. Refueling Aircraft – Macro Economic Scenario
5. Global Refueling Aircraft Size and Growth
…..
32. Global Refueling Aircraft Competitive Benchmarking
33. Global Refueling Aircraft Competitive Dashboard
34. Key Mergers And Acquisitions In The Refueling Aircraft
35. Refueling Aircraft Future Outlook and Potential Analysis
36. Appendix
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