Global Tanker Aircraft Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Tanker Aircraft is a type of aircraft utilized for arial refueling applications. It has application in transferring aviation fuel from one military aircraft to another during the flight. The tanker aircraft flies straight and level and extends the fuel hose that trail out behind and below the tanker under normal aerodynamic forces. The growing military expenditure worldwide and increasing procurement of combat aircraft as well as strategic initiatives from leading market players are key factors accelerating the market growth.
The increasing spending on military budget worldwide is key factor contributing to the growth of the Global Tanker Aircraft Market. For instance, as per Stockholm International Peace Research Institute is an international institute (SIPRI) - in 2020, the global military expenditure was estimated at USD 1981 billion, which further increased to USD 2113 billion, witnessing an increase of over 0.7 percent. Furthermore, US spend highest spending of military budget with USD 801 billion, followed by China with USD 293 billion and India with USD 76.6 billion. Also, rising development of advanced aerial tankers and growing investment in automatic refueling system would create lucrative growth prospectus for the market over the forecast period. However, the high maintenance cost associated with Tanker Aircraft impedes the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Tanker Aircraft Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share due to factors such as presence of leading market players as well as increasing spending on defense advancements in the region. Whereas Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising military spending and increasing penetration of leading market players in the region.
Major market players included in this report are:
The Boeing Company
BAE Systems plc.
Rolls Royce Plc.
United Aircraft Corporation
VT Group Plc.
EADS (Northrop Grumann)
Lockheed Martin Corporation
Recent Developments in the Market:
In July 2022, Airbus received certification for automatic air-to-air refuelling (A3R) boom operations in daylight from the Spanish National Institute for Aerospace Technology (INTA) for its A330 MRTT aircraft. This new system does not require additional equipment on the receiver aircraft.
In September 2022, L3Harris Technologies and Embraer S.A. entered in a partnership to develop an "Agile Tanker," a tactical aerial refueling aircraft for the U.S. Air Force. Both the players would be working towards expansion of Embraer's KC-390 Millennium tactical tanker aircraft.
Global Tanker Aircraft Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Fixed Wing Tanker Aircraft
Rotary Wing Tanker Aircraft
Rest of the World