Aircraft Refueling Hose Market Analysis

Aircraft Refueling Hose Market Analysis

Military aircraft accounted for a considerable volume share at around 15% in 2018. This can be attributed to the rising military expenditures across the globe. Industry players are focusing on introducing technologically-advanced and lightweight aircraft refueling hoses for improving the system efficiency. Additionally, the advent of aerial refueling systems along with probe and drogue refueling technologies with hoses contribute significantly toward improving operational efficiency and reducing flight downtime.
 

Helicopters was valued at over USD 300 million in the aircraft refueling hose market size in 2018. This can be credited to the increasing demand across diversified applications including tourism, military, and personal travel. Additionally, the ability of helicopters to perform diversified operations including vertical take-off & landing along with easier manoeuvring & hovering around places with limited open areas will expand the business share.
 

Commercial aircrafts grew significantly at around 4% CAGR over the forecast timeframe. The improving tourism sector along with the rising disposable income are some of the major factors boosting the commercial aircraft industry growth. The proliferation of low-cost aircraft carriers offering expanded air travel networks across multiple countries at affordable fares is enhancing the aircraft refueling hose market size. Airliners are continuously investing on expanding their aircraft portfolio for catering to the growing air passenger traffic. For instance, in 2019, Brazil-based Azul announced the renewal of its aircraft fleet with new orders of Airbus A320neo and Embraer 195-E2 aircraft.
 

OEMs will grow significantly at around 3% CAGR in the aircraft refueling hose market size. This can be credited to the rising aircraft production and deliveries across the globe. OEMs are continuously focusing on introducing lightweight and durable hoses with a focus on improving safety and complying with stringent regulatory norms. Moreover, advancements in materials along with superior fire resistance capabilities are few major advancements in aircraft refueling hoses, contributing to the increasing segment share.
 

The aftermarket aircraft refueling hose accounted for a revenue share at around 3% in 2018 owing to the requirement for periodic repairs, which may lead to replacement in these aircraft. Additionally, stringent regulations mandate the replacement of such components & parts to ensure appropriate refueling, expanding the segment share. The continuous usage of these hoses contributes significantly towards wear, tear, and probable cracks in the materials, further accentuating the segment growth.
 

The Europe aircraft refueling hose market size will grow significantly owing to the rising air travel across the region. The proliferating air passenger traffic owing to the rising demand for low-cost air carriers along with improving tourism sector will further expand the reginal share over the study timeframe. Airliners across the region are focusing on expanding their aircraft fleet for catering to the rising air passenger traffic. For instance, in 2017, Surf Air announced the expansion of its network routes and business aircraft fleet with innovative, low-cost, and subscription-based all-you-can-fly-model to target a wide air traveling customer base.
 

North America will account for a significant share in the aircraft refueling hose market size. The proliferating defense budget along with the rising air passenger travels are some of the major factors supporting the regional growth. For instance, the U.S. Pentagon is proposing a defense budget amount to USD 718 billion for FY 2020. Moreover, Canada defense expenditure accounted for around USD 16 billion in 2018, positively influencing the regional share over the study timeframe.