Increased helicopter usage in O&G industry for getting to offshore oil rigs and conducting rescue operations in remote locations will drive aircraft fueling hose market from helicopters.

Ocean View, DE -- (SBWire) -- 04/16/2020 --The aerial refueling system market is registering significant growth in recent times owing to exponential rise in deployment of aircraft fleets worldwide. Increased tourism and spending on business travel has also propelled the aviation sector in the past couple of years.

The key industry participants in the aerial refueling system market are Boeing, Lockheed Martin, Cobham Plc, Eaton Corporation, Zodiac Aerospace, GE Aviation System, Northstar Engineering Corporation, Omega Aerial Refueling Services, lnc., Liebherr Group, ProtankGrüp (Protank Mission Systems Sdn.Bhd), Smiths, Dassault Aviation, Marshall of Cambridge (Holdings) Ltd.

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Consistent technological advancements are furthering aircraft refueling systems. Smart drogue systems are gaining prominence among the manufacturers, as this system is connected to the existing hose, features sensors and steadily controls the movements of the basket. Moreover, smart drogue systems act as an active buffer and leads to momentous reduction in the basket movement. Growing number of innovations coupled with rising investments for novel development in the field is estimated to offer significant growth prospects for aerial refueling system market.

OEMs are expected to exhibit expansive growth and hold massive volume in the aerial refueling system market share over the analysis period. Rising production of aircrafts across the globe is resulting in high revenue generation in OEMs. Over the projected timeframe, OEMs are projected to register a CAGR of over 4.5%, owing to increasing replacement pace of the aircraft refueling components including drogues and hoses, specifically in the ageing aircrafts.

Probe and drogue segment is projected to showcase exceptional growth in aerial refueling system with over 70% volume share by 2024. Probe and drogue aerial refueling systems offer better and passive tanker operations than the flying boom system. Furthermore, these systems require minimal precise direction for the drogue, unlike its counterparts. Flying boom system has been witnessing substantial gains owing to its high usage in the industry over the past years, and with high fuel transferring rate of probe and drogue systems, aerial refueling system market is expected to witness expansive growth.

In recent times, new highly advanced aerial refueling tankers are being deployed to conduct refueling operations in air, further contributing toward enhancing operational efficiency and reducing flight downtime. For instance, in 2019, the U.S. Air Force started accepting the first few production copies of Boeing's military aerial refueling aircraft, KC-46. Official reports claim that the Air Force will accept 19 additional KC-46s by the end of August 2019 that would help drive the regional industry share.

The U.S. Navy plans to finalize its MQ-25 drone program by 2019 with an aim to craft drones that could fly off an aircraft carrier and refuel other aircraft mid-flight. Proliferating trends pertaining to drone development and deployment will propel North America aerial refueling system market.

Helicopters are gaining traction in aerial refueling system market owing to increasing use of helicopter in-flight refueling (HIFR) systems. In the past decade, the worldwide fleet of civil helicopters has grown by 37.38% to reach 30,895 aircraft, claims the General Aviation Manufacturers Association (GAMA). Increased helicopter usage in O&G industry for getting to offshore oil rigs and conducting rescue operations in remote locations will drive aircraft fueling hose industry from helicopters.

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The global aerial refueling system industry is driven by rapid deployment of commercial and military aircraft fleets in the aviation sector. Increasing number of air passengers and rising defense budget will augment business growth. Reports from Global Market Insights, Inc., estimate aerial refueling system market to reach USD 2.5 billion by 2025.

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