Aircraft Refueling Hose Market Size

Aircraft Refueling Hose Market Analysis

Aircraft Refueling Hose Market size valued at over USD 1.8 billion in 2018 and is estimated to exhibit over 4.5% CAGR from 2019 to 2025.

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The rising aircraft production due to increasing air passenger traffic along with proliferating defense budget across the globe are boosting the aircraft refueling hose market size over the projected timeframe. The ability of these systems to easily refuel aircraft in land and even in air during flight journey coupled with a significant reduction in flight journey downtime further supports the industry size expansion over the projected timeframe.

Governments across the globe are increasing their defense budget and expenditure to strengthen their military operations. For instance, the U.S. government announced a defense budget allocation of around USD 716 billion for 2019. Moreover, the expansion of commercial aviation due to increasing air passenger traffic is providing a positive outlook for the aircraft refueling hose market. For instance, Boeing announced a delivery of 806 aircraft in 2018, reducing backlogs and enhancing their business share.

Advancements in technologies along with stringent regulatory norms require industry participants to continuously invest on R&D for boosting their revenue share. Industry players are continuously investing on innovative technologies and partnering with scientists and research organizations for developing advanced systems and expanding their aircraft refueling hose market size. For instance, in 2016, Russian scientists announced the development of an advanced laser refueling system capable of fueling aircraft and small satellites.
 

Stringent regulatory norms require industry players to invest on hose technologies for introducing compliant & safe aircraft refueling hoses that are ideal for diversified operations across multiple environment & climatic conditions. For instance, organizations, including ICAO, offer multiple safety & fire standards for refueling hoses that enable industry participants to offer superior quality and safe hoses, providing a positive outlook for the aircraft refueling hose market expansion.
 

The aircraft refueling hose market is expected to witness strong competition owing to the adoption of multiple strategies including new product development, mergers & acquisitions, and portfolio diversification by industry participants to gain higher visibility in the market. For instance, in 2016, Husky Corporation completed its acquisition of S.U.R.&R, a supplier of refueling parts and repair kits. This strategy enabled the company to offer a range of aircraft refueling hoses along with products and repair services in the aftermarket.