Market overview:

The Global Air To Air Refueling Market was worth USD 537 million in 2020, and it is predicted that it will reach a valuation of USD 692 million, garnering a CAGR of 4.3% over the conjecture period 2021-2026.

Air-to-air refueling, also known as aerial refueling, is considered a major air force power multiplier. It is an effective way to increase the payload, drag and range of an aircraft by refueling it during flight. The aircraft that transfers fuel is called a tanker and the aircraft that receives fuel is called a receiver. The two main refueling systems are the flying arms that provide faster fuel delivery and probes and tows that can be easily adjusted and added to existing aircraft. Refueling in the air is more energy efficient than flying on less fuel. Air-to-air refueling is estimated to save 35-45% of fuel costs.

Recent developments:

In January 2019, Boeing signed a contract with the US Air Force to supply the KC-46 Pegasus next-generation aviation refueling tanker.

In December 2018, Airbus partnered with Lockheed Martin to provide aviation refueling services to tankers that refuel aircraft on the fly or on a mission.

Market Drivers and Restrains:

Increased spending on national defense is a major factor driving the growth of the global air-to-air refueling market. Increased defense spending and continued technological advancements are supposed to lead to the development of a variety of advanced weapons and tanker trucks in the near future, which will provide profitable growth opportunities for defense players operating on ships, aircraft and armored vehicles. Manufacturing processes for weapons, artillery, systems and subsystems. The increasing adoption of effective methods to increase aircraft resistance and coverage will accelerate the growth of the Air to Air Refueling systems market. Market revenue will increase as demand for tankers increases as defense budgets increase in developed and emerging countries. With the increasing frequency of sorties away from land bases, refueling has become an essential component of the mission. AAR supports overseas deployment in a short time. The Air to Air Refueling process is very important, especially for military aircraft, and receiving additional fuel allows the aircraft to stay in flight for a longer period of time. In this way, the range and functional capabilities of the aircraft can be significantly increased. Efficient takeoff taxiways are also possible for aircraft that start with minimal fuel and receive additional capacity after the flight.

The high capacity of the military sector and the increase in defense budgets in many countries of the world are mainly driving industrial growth. The increase in the defense budget has generated significant demand for tankers, especially in developing countries, and has had a positive impact on the industry. Air-to-air refueling helps fill aircraft for long-haul and roaming flights. This factor is further expanding this aerial refueling business. The demand for air-to-air refueling is increasing as it helps take off with less payload. However, high installation costs can hamper the market boom. Defense aircraft are comprised of weapons, cargo, and personnel, and if the aircraft has enough fuel, it can interfere with the aircraft's takeoff. The main limitation of the global Air to Air Refueling market is the process of refueling aircraft in rough air conditions or with poor visibility. The boom mechanism is almost limitless to refuel one aircraft at a time, and the fuel supply pressure must be reduced while air-fueling the fighter. Therefore, the limitations of the boom mechanism act as a deterrent to the worldwide Air to Air Refueling market.

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Report is segmented as:

On the basis of component, the fuel tanks segment is expected to lead the air-to-air refueling market. The fuel tank system stores non-combustible gases such as nitrogen. Fuel tanks operate in flight when purge air is supplied.

Based on the system, the probe and drag segment is foreseen to grow at the highest CAGR in the air-to-air refueling market during the outlook period. Probes and drawers are the main systems used to perform air-to-air refueling.

Geographical Segmentation:

North America is likely to dominate the global Air to Air Refueling systems market during the conjecture period. The United States is likely to remain a potential market for North America due to its high defense budget. The Asia Pacific region is determined to register notable growth over the predicted period. Investments in the defense sector in emerging Asian markets such as India, Japan, China and South Korea are likely to boost regional market demand for Air to Air Refueling systems. Here, the military aviation industry is focused on finding aircraft manufacturing and offering alternatives to traditional aircraft models. The military transport aircraft segment has the potential to drive market demand for Air to Air Refueling systems in the future.

Impact of COVID-19 on Air-to-Air Refueling Market

Due to the coronavirus pandemic, government restrictions on public demonstrations and closure statements have limited production rates in industries around the world. As the government plans to resume air travel soon, the demand for spare parts for Air to Air Refueling will increase significantly in future.

Key market players:

Key players in the global Air to Air Refueling market include Boeing, Lockheed Martin, Zodiac Aerospace, Cobham Plc, GE Aviation System, Eaton Corporation, Northstar, Engineering Corporation, and Omega Aerial Refueling Services lnc.

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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