Northbrook, IL -- (SBWire) -- 04/15/2021 --According to the new market research report "Air-to-Air Refueling Market by System (Probe & Drogue, Boom Refueling, Autonomous), Component (Pumps, Valves, Hoses, Boom, Probes, Fuel Tanks, Pods), Aircraft Type (Fixed, Rotary), Type (Manned, Unmanned), End User, Region - Global Forecast to 2025", published by MarketsandMarkets™, the market size is projected to grow from an estimated USD 501 million in 2020 to USD 851 million by 2025, at a CAGR of 11.2% during the forecast period. This growth can be attributed to the increasing demand for combat aircraft and military spending of various countries.
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The fuel tank segment accounts for the largest market size during the forecast period
Based on components, the fuel tank segment is estimated to account for the highest share in the air-to-air refueling market in 2020. A fuel tank system is one of the important components of an air to air refueling system as it increases the safety of fuel systems in an aircraft. This system is placed in the fuel tank of the aircraft and stores non-flammable gases, such as nitrogen. A fuel tank operates during a flight when the bleed air is supplied.
The boom refueling segment is projected to grow at the highest CAGR during the forecast period
Based on system, the boom refueling segment is projected to lead air-to-air refueling market during forecast period. Most tanker aircraft use boom refueling systems, which consist of a rigid tube that helps an operator on tanker aircraft to extend the boom tube and insert it into a vessel on the aircraft being refueled. The growth of the boom refueling segment can be attributed to its ability to transfer fuel as fast as possible. Since the boom is rigid, it is capable of a higher transfer rate as compared to probe and drogue.
The manned segment accounts for the largest market size during the forecast period
Based on type, manned segment is projected to lead air-to-air refueling market during the forecast period. The rising adoption of air-to-air refueling through manned systems by military and naval forces across the globe is expected to fuel the growth of the manned segment.
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"North America is projected to grow at the highest CAGR during the forecast period."
North America is one of the leading markets for air-to-air refueling systems in terms of research and development activities, deployment, and the presence of key market players. The major countries under this region are the US and Canada. The US leads the air-to-air refueling market in North America. The military aviation sector in North America is growing steadily, consequently created a significant demand for air-to-air refueling systems. The presence of major players, OEMs, and component manufacturers are one of the key factors expected to boost the air-to-air refueling market in North America. The US is expected to drive the growth of the North American air-to-air refueling market. An increasing number of military aircraft upgrade programs, ongoing research and development of advanced military aircraft platforms, and the presence of major systems and components manufacturers are expected to lead to a surge in demand for air-to-air refueling systems in North America during the forecast period.
Major players operating in the air-to-air refueling market include Cobham plc (UK), Eaton Corporation (US), Airbus (Netherlands), Boeing (US), and GE Aviation (US). These key players offer air-to-air refueling systems for different platforms and have well-equipped and strong distribution networks across the North American, European, Asia Pacific, and the Rest of the World (the Middle East, Latin America, and Africa).
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Air-to-Air Refueling Market Worth $851 Million by 2025