Global Aircraft Refueling Hose Market Set For 8.2% Growth, Reaching $3.41 Billion By 2028
Aircraft Refueling Hose Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The aircraft refueling hose market has grown strongly in recent years, rising from $2.3 billion in 2023 to $2.49 billion in 2024 at a compound annual growth rate CAGR of 8.1%. This growth in the historic period can be attributed to an increase in the procurement of combat aircraft, an increasing number of domestic and international passengers, increased demand for helicopters, and a rise in the tourism industry.
What Is the Projected Market Size of the Global Aircraft Refueling Hose Market and Its Growth Rate?
The rise in global air travel, growing military aviation needs, and technological advancements are contributing to a steady growth in the aircraft refueling hose market, expected to reach $3.41 Billion by 2028. Along with unprecedented year-on-year growth of 8.2%, key emerging markets are predicted to experience a surge in demand for more advanced and efficient refueling technologies.
What are the Key Drivers Fueling Growth in the Aircraft Refueling Hose Market?
The rising aircraft production is expected to propel the growth of the aircraft refueling hose market going forward. Aircraft refers to any vehicle designed for flight, including airplanes, helicopters, and drones, used across the commercial, military, and private aviation sectors. The rise in aircraft production is driven by increasing global air travel demand, fueled by economic growth, higher disposable incomes, and a growing middle class, especially in emerging markets. Moreover, expansion in global trade and E-Commerce driving demand for cargo aircraft to facilitate faster and more efficient goods transport. Aircraft refueling hoses are essential for safely transferring fuel to aircraft, ensuring efficient refueling operations for various types of aircraft, including commercial, military, and private planes.
Who are the Key Players in the Aircraft Refueling Hose Market?
Leaders in the aircraft refueling hose market include Lockheed Martin Corporation, ContiTech AG, Eaton Corporation, Safran S.A., Parker Hannifin Corporation, Apache Inc., and Gates Corporation. Other significant players include Trelleborg Group, Semperit AG Holding, Alfagomma Group, Polyhose, Motion and Flow Control Products, Dixon Valve and Coupling Company LLC, JGB Enterprises Inc, Husky Corporation, Delafield Corporation, The Rubber Company, Aviation Pros, Pirtek, Aljac Fuelling, Aero-Hose Corp, ARG Industries, Elaflex Hiby Tanktechnik GmbH and Co. KG.
For a comprehensive sample of the Aircraft Refueling Hose Market report: https://www.thebusinessresearchcompany.com/sample.aspx?id=19283&type=smp
What are the Emerging Trends in the Aircraft Refueling Hose Market?
Major technological advancements are shaping the future of the aircraft refueling hose market. Significant strides are being made in developing advanced refueling technologies like automatic air-to-air refueling AAR systems. AAR technology facilitates the automated transfer of fuel from one aircraft to another while both are in flight. This technological innovation enhances efficiency, safety, and reliability in military and commercial aviation. For example, in December 2022, the Belgium-based European Defense Agency launched a project to develop an AAR system using hose and drogue method aimed at bolstering the success rate of AAR missions by integrating automation technologies.
How is the Aircraft Refueling Hose Market segmented?
The aircraft refueling hose market report categorizes the market into four key segments:
1 By Type: Composite Hose, Stainless Steel Hose, Rubber Hose
2 By Aircraft Type: Wide Body Aircraft, Narrow Body Aircraft, Rotorcraft
3 By Sales Channel: Original Equipment Manufacturer, Aftermarket
4 By End-Use: Commercial Aviation, Military Aviation, Other End-Users
In terms of regional insights, North America overshadowed other regions in the aircraft refueling hose market in 2023. However, Europe is estimated to be the fastest-growing region in the forecast period. Additional regions examined in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
For access to the full Aircraft Refueling Hose Market report: https://www.thebusinessresearchcompany.com/report/aircraft-refueling-hose-global-market-report
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