PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1441379
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1441379
Global Refueling Aircraft Market is valued at approximately USD 14.8 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.5% during the forecast period 2023-2030. Tanker aircraft, also known as Refueling Aircraft are capable of transferring fuel to an aircraft while it is parked at an airport (ground refueling) or in flight (air-to-air refueling). They let airplanes to stay in the air longer without having to land for fuel, increasing their endurance and range. Modern refueling aircraft use many systems to transfer gasoline without leaks. Air refueling saves time in emergency situations, which is critical for many fighter planes. The Refueling Aircraft Market is expanding because of factors such as rising expenditure in defense by governments worldwide, surging technological advancements and rising geopolitical tensions between various nations.
Aerial refueling is an important part of many military missions. Refueling planes are commonly used in the defense industry to extend the range of fighters, bombers, and other aircraft. Major governments around the world are making significant investments in military and defense capabilities. For instance, The US Department of Defense (DOD) invested USD 704.0 billion in the fiscal year 2020-2021, an increase over the previous year. Similarly, developing countries are making major investments in the military and defense sectors. For instance, Japan has declared intentions to invest more than USD 51.0 billion in the military and defense sectors in the fiscal year 2021. In addition,, aviation industry is a major contributor to greenhouse gas emissions, accounting for around 2% of global emissions. As environmental concerns rise, sustainable aviation fuels (SAF) are emerging as a game-changer, presenting lucrative market opportunities for firms across the refueling market. SAF can significantly reduce lifecycle carbon emissions compared to traditional jet fuel, often by up to 80%. This aligns with airlines' and airports' sustainability goals, enhancing their brand image and attracting environmentally conscious customers. For instance, according to a report by the International Air Transport Association, Airlines are increasingly looking for ways to reduce their carbon footprint, including the use of Sustainable Aviation Fuels (SAF) in their operations. However, factors such as stringent safety regulations and complex integration with advanced aircraft propulsions hampers the market growth throughout the forecast period 2023-2030.
The key regions considered for the Global Refueling Aircraft Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to factors such as a rise in the military & defence sector, the geographical presence of leading companies such as Eaton Corporation, GE Aviation and Lockheed Martin and a surge in technological developments for various military uses. Asia Pacific is expected to grow significantly over the forecast period, owing to factors such as a rise in defense expenditure by various nations in the region, the development of advanced aerospace technologies, the establishment of premier technology institutions such as IITs.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
7.4.1. Air-to-Air Refueling
7.4.2. Tanking Method
9.3.2. Eaton Corporation
9.3.3. OMEGA Air Refuelling Services Inc.
9.3.4. AFS Aviation Fuel Services GmbH
9.3.5. General Electric (GE) Aerospace
9.3.6. Marshal Group
9.3.7. Garsite LLC
9.3.8. Cobham Ltd.
9.3.9. Northrop Grumman Corporation
9.3.10. The Boeing Company
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable