Global Tanker Aircraft Market - Segmented by Type and Geography - Growth, Trends, and, Forecast (2018 - 2023)
The Shift toward Long Range Combat Aircrafts is expected to drive the Tanker Aircraft Market
Major military organization around the world are gradually adding more long range combat aircraft to their fleet due to logistical and technological advantages. This aspect is expected to be a major driver of the tanker aircraft market during the forecast period. The costs incurred on the refueling equipment of the tanker aircraft as well as the receiver aircraft are quite substantial, which is holding the market back to some extent. The two main systems, which are commonly used are probe and drogue and the flying boom system. The longest manned flight record was in a Cessna 172 Sky hawk, which flew constantly for 64 days and 22 Hours.
Russia, France, UK, and U.S. actively building and acquiring a new fleet of tankers. The tanker aircraft market is one of the few markets, which will experience good growth across the world in both developing and developed countries with developing countries expected to follow the lead of the developed nations because of the importance of the tanker aircraft. Aerial refueling is expected to be adopted by all the major armed forces of the world in the future and with the falling prices of aerial refueling equipment in the future civilian passenger aircraft will also adopt this technology, which would result in falling travel times because of non – stop flights and huge efficiency savings.
In the quest to maximize range of its aircraft the countries will continue to buy more number of tanker aircraft in the next 10 years. Fuelled by the demand arising in Middle East, Asia Pacific, Africa, and South America the market for tanker aircraft will be in the range of 125 aircraft till 2025, which will translate into a market size of USD 26 billion. One other restraint is the challenge faced by companies in terms of design.
January, 2018: Indian Air Force procures six military tanker aircrafts to expand it's operational fleet size
Key Industry Players: Boeing, Cobham Plc, EADS, Rolls Royce Plc, Thales UK, and VT Group Plc, among others.
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