The global aircraft refueling hose market size is expected to reach around US$ 3 billion by 2026 and growing at a CAGR of 4.8 % throughout the forecast period 2019 yo 2026.
The report provides analysis of global Aircraft Refueling Hose market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
Aircraft refueling hose market is increased over the projected timeframe due to the increased air passenger traffic along with a prolonged defense budget worldwide. The ability to refuel aircraft easily in the air and in the ground during flight, combined with significant reductions in the time of the flight trip, further enhances the industry's size over the planned time frame. Global governments increase their defense budget and spending to reinforce their military operations. For example, the U.S. administration has announced a USD 718 billion defense budget allocation in 2019. In addition, the expansion of commercial aviation as air passenger transportation increases provides a positive prospect for the fuel refueling tube market. For example, Boeing announced that 807 aircraft would be supplied in 2018, which reduced retrofits and improved its share of business. Technological advances and strict regulatory standards require industry participants to continuously invest in R&D to increase their share of revenue. Industry players constantly invest in new technologies and partner in the development of modern systems and the expansion of their tank fueling aircraft market size with researchers and organizations. In 2016, for example, Russian scientists announced that they had developed an advanced laser recharge system that could fuel aircraft and smaller satellites. Strict regulatory standards require players from the industry to invest in hose technologies to introduce compliant and safe refueling aircraft sleeves, suited for multiple environmental and climatic operations. For example, companies including ICAO offer multiple standards of safety and fire safety for refueling tubes which allow industry participants to offer superior quality and secure tubes, which offer a positive outlook on the expansion of the aircraft's tank market. Due to the adoption of multiple strategies, such as new product development, fusion and acquisition and the diversification of the portfolio by industry participants, the aircraft refueling hose market is anticipated to be experienced in strong competition. Husky Company, for example, concluded the acquisition by 2016 of S.U.R.&R, a replenishment and repair parts supplier. This strategy enabled the company to offer a range of recharge aircraft hoses together with products and aftermarket repair services.
A significant volume share of the military aircraft in 2018 was around 15.5%. This is due to the increasing military spending worldwide. In order to increase system efficiency, industry players are focused on introducing technologically advanced and lightweight aircraft fuel pipes. In addition, the introduction of aerial refueling systems and test and drug refueling technologies with sleeves make a significant contribution to improving operating efficiency and reducing flight stoppages.
The size of the aircraft refueling shoe market was estimated to be over USD 302 million in 2018. The growing demand for diverse applications, for example tourism, military and personal travel, can be credited. In conjunction with easier maneuvering and moving around areas where there are limited open areas, helicopters are also able to carry out different operations including vertical take-off and landing, which will expand their share of business.
Commercial aircraft grew considerably over the projected timeframe by around 4.5% CAGR. Among the major factors driving growth in the commercial aviation industry is the improvement in the tourism sector, together with increasing disposable revenues. Proliferation of low-cost carriers providing expanded air transport networks at affordable prices across multiple countries improves the size of the aircraft replenishing tubing market. Airlines continue to invest in the expansion of their flight portfolio to cater for the increasing flight of passengers. For example, Brazilian Azul had announced in 2019 that its Airbus A320neo and Embraer 195-E2 aircraft will be replacing their aircraft fleet with new orders.
Distribution Channel Stance
In the aircrafts that repel hose market size, OEMs will increase substantially at about 3.2% CAGR. The increased production of aircraft and deliveries worldwide can be credited with this. Light and durable shafts are continuously being used by OEMs to increase safety and meet stringent regulatory requirements. Furthermore, advances in materials and higher fire resistance are few significant advances for refueling pipes of aircraft, which contribute to the increasing proportion of the segment.
In 2018, the re-fueling shell of the aftermarket aircraft represented an income share of about 3.5% due to the need for regular repair that could replace them. Furthermore, strict rules require the substitution of these components and parts in order to ensure adequate refueling and increase the segment share. The continued application of these sleeves significantly contributes to wear, tear and likely cracks in the materials, which further emphasizes the segment development.
As air travel across the region increases, the size of Europe's refueling aircraft on the harness market will increase substantially. Due to the increased demand for low-cost airlines and the improved tourism sector, the increase in air passenger traffic will further increase the regional share during the study period. Airlines throughout the region are focusing on expanding their fleet for catering for the growing traffic of passengers. Surf Air, for example, announced in 2017 the expansion with an innovative, cheap and suscription-based all-in - one fly model of its network routes and business aviation fleet for the purposes of a broad customer base for air transport.
The size of the hose refueling aircraft will account for North America. Some of the main elements contributing to regional growth are the proliferation of the defense budget and increasing passenger travels. The USA, for example. For the FY 2020, Pentagon proposes a USD 719 trillion defense budget. Canada defense spending in 2018 was approximately USD 16.5 billion, which has influenced the regional share over the time frame of the study positively.
Global Aircraft Refueling Hose Market, By Application
Global Aircraft Refueling Hose Market, By End Use
Global Aircraft Refueling Hose Market, By Geography
The market research study on “Aircraft Refueling Hose Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Aircraft Refueling Hose market segments with market dynamics and their impact. The report also covers basic technology development policies.
Key Players & Strategies
Eaton, Pear Hose Corp., JGB Enterprises, Inc., Husky Corporation, Parker Hannifin Manufacturing S.r.l., Elaflex, Cobham Plc., Apache Inc. and Aero-Hose Corp. are prominent players for aircraft fueling hose on market sizes. Strategic fusions and acquisitions are a prominent strategy for increasing the market share of industry players. Parker Hannifin Corporation, for example, announced in February 2019 that it had acquired Markwel Hose Products Pvt. Ltd., to complement and enhance the presence of its hose products in Asia-Pacific.
Market players in the field of aircraft refueling of pants develop innovative processes which contribute to the offer of a reliable and efficient refueling of pants. Furthermore, manufacturers are also focused on introducing lower sleeves to improve the system efficiency. The increased demand for advanced hoses is further strengthening the size of the market through upgrade from regions such as North America and Europe as the company spends more consumption on business jets and military jets. In order to maximize their income, industry players are also expanding their operations and production plants.
The global narrow-body aircraft market is expected to reach the market value of around US$ 180 Bn by 2026 and is anticipated to grow at a CAGR of around 3.6% in terms of revenue during the forecasting period 2019 – 2026. In terms of volume (consumption) the market is expected to grow at CAGR of around 3.3% during the forecast period.
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The global aircraft refueling hose market size is expected to reach around US$ 3 billion by 2026 and growing at a CAGR of 4.8 % throughout the forecast period 2019 yo 2026. The report provides analysis of global Aircraft Refueling Hose market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year. Ma
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