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Aircraft Refueling Hose Market in North America Region is Expected to Witness Around 3% CAGR By 2025

Author : Ronak Bora | Published Date : 2019-06-05 

North America will witness around 3% CAGR in the aircraft refueling hose market share owing to the increasing investments by industry participants to advance technologies. For instance, in February 2016, Boeing tanker KC-46 carried out the successful fueling of F/A-18 during its flight. Additionally, the deployment of multiple tankers with probe & drogue systems including the KC-130, C-160 NG, and KC-135 will further support the aircraft refueling hose market expansion over the projected timeframe.

Helicopters will showcase a considerable growth in the aircraft refueling hose market on account of the rising prevalence for Helicopter In-Flight Refueling (HIFR) systems. Upsurge in the tourism industry is significantly contributing to the growing demand for helicopters. Moreover, increased applications of helicopters in several industries, including oil & gas and mining, along with the installation of refueling hoses for increased reliability and higher fuel flow assurance will further propel the market size till 2025.

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The proliferating demand for military jets for special purpose missions coupled with the increasing tanker size for supporting aerial refueling operations will drive the aircraft refueling hose market growth. The significant product demand is further propelled by the rising defense budget, including the U.S., China and India, along with the increasing commercial airplane deliveries. For instance, in March 2019, China government announced its defense budget that will account for USD 177.61 billion with an increase of around 7.5% compared to the previous year.

Increasing commercial airplane delivery with a high demand for lighter airplanes with improved fuel efficiency will boost the aircraft refueling hose market share. The rising air passenger traffic along with the increasing demand for low-cost carriers is fostering the usage of refuellers in commercial air carriers. According to the Centre for Aviation (CAPA), in 2017, 1,740 commercial air carriers were delivered with an increase of around 1.5% compared to the previous year.

 

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Rising low cost carriers demand will positively enhance aircraft refueling hose market size. Increasing adoption of low-cost carriers can be attributed to the availability of a vast network of routes at lower fares. Additionally, airliners are focusing on reducing extra services given to customers for free and offering packages at standardized rates, supporting the lowering of air fares.

Growing demand for advanced refuellers and sales is driving the aircraft refueling hose market size over the study timeframe. Availability of wide range of built-in hose assembly with different diameter will further support the business growth. For instance, in 2018 FTI started manufacturing aircraft fuel hose assembly along with test and management services.

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Industry participants are continuously investing in R&D to retrofit new technologies for enhancing the system performance. For instance, in 2017, Australian air force signed a research agreement with Airbus to develop automatic fueling capability. The products can be retrofitted to existing jets including certain hardware changes and software upgrades providing a positive outlook for aircraft refueling hose market share.

The key aircraft refueling hose industry players include Perkar Hannifin, Eaton, Elaflex, Husky Corporation, Cobham Plc and Apache. Industry participants are engaged in long-term partnerships and strategic expansion of existing facilities. For instance, in 2015, Apache Inc opened new production and distribution facility in Dallas, Texas offering hose products and belting for heavy and light duty. This expanded company’s distribution network, thereby providing a positive outlook for the industry growth.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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