Aircraft Refueling Hose Market Dynamics, Forecast, Analysis and Supply Demand 2019 – 2025
Category: #business  By Rahul Varpe  Date: 2020-07-14
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Aircraft Refueling Hose Market Dynamics, Forecast, Analysis and Supply Demand 2019 – 2025

The proliferating production of aircrafts due to increasing air passenger traffic will drive the industry growth. Countries are spending significant amount on defense budget to enhance the aircraft refueling hose market share. In addition, the ability of these systems to easily refuel aircraft in land and mid-air will further support the business growth in upcoming years. Stringent design standards including EN 1825 (Type E), EN 1361, BS 3158 and EI 1529 required high performance of refueling hoses. Industry participants are continuously investing in innovative technologies and partnering with research organizations to develop advanced products.

Increasing number of air travelers in emerging economies owing to rising disposable income and proliferating tourism industry are demanding more passenger aircrafts. The easy availability of flights with improved airline network across the globe has increased air passenger traffic. For instance, in March 2019 International Air Transport Association (IATA) announced that revenue passenger kilometers (RPK) of global aviation industry rose by 6.5% in January 2019 as compared to January 2018. All these will provide positive outlook for aircraft refueling hoses market over study timeframe.

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The availability of built-in hose assembly with wide range hose diameters and adoption of advanced refueling products will support the industry demand. The rising presence of new manufacturers and service providers in industry will further increases product penetration. For instance, in 2018 FTI started manufacturing refueling hose assembly along with test and management services for aviation sector.

Multiple defense organizations are demanding advanced refueling services, thus industry participants are investing in R&D to develop the new technologies. For instance, in March 2017, Australian Air Force signed a research agreement with Airbus to develop automatic refueling capability. The products are retrofitted to existing jets with certain hardware changes and software upgrades, thereby providing a positive outlook for aircraft refueling hose market expansion.

Commercial aircraft segment accounted for a significant share in refueling hose market owing to increasing aircraft deliveries across the globe. The growing presence of low-cost carries offering expanded air travel network across multiple countries at affordable fares are increasing aircraft demand. Additionally, airlines are continuously investing in purchase of new aircrafts to enhance their presence and thereby support the revenue generation.

OEM is anticipated to hold dominance in the industry owing to development of new generation aircrafts. The industry participants are continuously investing in new technologies to introduce lightweight and durable hose assemblies. Additionally, investments in development of advanced materials to reduce the weight of refueling products along with improving safety will support the aircraft refueling hose market growth.

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North America aircraft refueling hose market accounted for considerable share over the forecast timeframe. This growth can be credited to the increasing investments in defense and military sector. For instance, according to a report of National Priorities Project in 2015, U.S. allocated 54% of its annual budget for military and defense sector amounting around USD 598 billion. In addition, development of new refueling tanker system will support market growth. For instance, in February 2016, KC-46 Boeing tanker successfully carried out refueling of F/A-18 during its flight.

The prominent manufacturers in aircraft refueling hose industry include Eaton, Perkar Hannifin, Elaflex, Cobham Plc Husky Corporation, and Apache. Industry players are adopting merger and acquisition as key strategy to enhance their market presence. For instance, in February 2015, Parker Hannifin Corporation acquired Markwel Hose Products Pvt. Ltd to enhance its presence in Asia Pacific.

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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