Rising demand for aerial refueling to support overseas deployments and increasing procurement of advanced fighter jets are some key factors driving market
VANCOUVER, BC, CANADA, March 31, 2022 /EINPresswire.com/ — Market Size – USD 6.16 Billion in 2020, Market Growth – at a CAGR of 9.1%, Market Trends – Increasing demand for autonomous refueling systems
The global Air-to-Air Refueling (AAR) services Market size reached USD 6.16 Billion in 2020 and is expected to register a revenue CAGR of 9.1% during the forecast period, according to latest analysis by Emergen Research. Rising need for aerial refueling to support overseas deployments which enables fighter jets and other aircraft to cover longer distances is a key factor expected to drive demand for aerial refueling services.
Rising demand for aerial refueling to support overseas deployments and increasing procurement of advanced fighter jets are some key factors driving market revenue growth
Increased procurement of advanced fighter planes with newer more advanced technologies including better sensors that enable more efficient and accurate mid-air refueling has been resulting in increased demand to accomplish better surveillance and covering of a larger area. This is expected to support market revenue growth to a significant extent over the forecast period.
A recent study on the Air-to-Air Refueling market aims at leveraging the insights and perspectives derived on the basis of both qualitative and quantitative data evaluation for the forecast period, 2021-2028. The market intelligence reports on Air-to-Air Refueling market dives deep into aspects including but not limited to the market size, growth and share across different regions to keep the stakeholders and business owners informed and help them make a wise business decision.
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The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report is formulated with data gathered from primary and secondary research examined and validated by industry experts. The report provides an overview of the market leaders, segmentation by type, application, and region, and technological advancements.
Some Key Highlights From the Report
Boom refueling segment is expected to register a substantially rapid revenue CAGR during the forecast period due to higher preference and use owing to faster fuel transfer rate than other systems.
Manned segment is expected to register a significantly robust revenue growth rate over the forecast period due to wider adoption of manned refueling systems, while unmanned refueling systems are in the testing phase and not widely implemented.
North America market is expected to account for a considerably large revenue share in the global air-to-air refueling market over the forecast period due to robust presence of major companies providing air-to-air refueling such as Lockheed Martin Corporation, The Boeing Company, Airbus SAS, and Cobham Ltd., among others, in the region.
Major companies in the global market report include The Boeing Company, Airbus SAS, Cobham Ltd., Lockheed Martin Corporation, Omega Air Refueling Services Inc., Eaton Corporation , Marshall Aerospace and Defense Group., GE Aviation, Safran S.A., and Draken International, LLC.
In April 2020, Airbus SAS executed the first completely autonomous air-to-air refueling (A3R) operation using a boom system. The flight testing operation took place over the Atlantic Ocean and included an Airbus tanker testing aircraft outfitted with the Airbus A3R solution and a Portuguese Air Force F-16 fighter aircraft that received the fuel. The A3R system eliminates the need for extra equipment on the recipient aircraft and decreases the burden of the Air Refueling Operator (ARO).
Regional Bifurcation of the Air-to-Air Refueling Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report aims to provide a complete analysis of the global Air-to-Air Refueling market with important details about the key market players from insightful primary and secondary research data. The report also aims to benefit the user by providing constructive data to gain insight into market growth, size, and investment approaches. Additionally, the report provides an extensive analysis of the Air-to-Air Refueling market, including key data, such as factors influencing the growth of the market, buyers and vendors, production and consumption, and revenue.
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Key Features of the Air-to-Air Refueling Market Report:
The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
Evaluation of key current and emerging market trends and growth prospects
It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
Brief overview of industry with regards to research and development, technological advancements, and product development
In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario
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Emergen Research has segmented global Air-to-Air Refueling (AAR) on the basis of type, system, aircraft, components, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
System Outlook (Revenue, USD Billion; 2018–2028)
Probe and Drogue
Aircraft Outlook (Revenue, USD Billion; 2018–2028)
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The post Increasing demand for autonomous refueling systems first appeared on Reality Syndicate Viewers.
This news story originally appeared at Automotive - Reality Syndicate Viewers on 2 April 2022