The report presents an in-depth assessment of the Tanker Aircraft Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Tanker Aircraft investments from 2021 till 2025. This research report also provides post COVID-19 impact analysis of the Tanker Aircraft industry.
Tanker Aircraft market is growing at a CAGR of 2% during the forecast period (2021-2025).
The Tanker Aircraft market is highly competitive and consists of a number of major players. Top Companies like (BA)E Systems PLC, The Boeing Company, Airbus SE, Lockheed Martin Corporation, United Aircraft Corporation, Northrop Grumman Corporation, Israel Aerospace Industries Ltd
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Industry News And Developments:
In September 2019, United Aircraft Corporation unveiled a new Ilyushin Il-78M-90A tanker based on Il-76MD-90A heavy airlifter at the MAKS 2019. Also, the partnership of the tanker aircraft OEMs to support the requirement of various armed forces is anticipated to increases its market share globally.
Scope of the Report
– The increasing military expenditure of developing economies is driving the modernization plans of various countries to replace the old tanker aircraft fleet. This is anticipated to propel the growth of tanker aircraft market during the forecast period.
– The innovations in existing tanker aircraft along with introduction of new tanker aircraft are anticipated to attract new customers for the aircraft OEMs.
– The market of tanker aircraft is highly consolidated with very few players in the market.
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Key Market Trends
Innovations in Aerial Refueling Aircraft
New variants of tanker aircraft are being developed by the companies. One of the areas of investment is the development of unmanned tanker aircraft. Boeing is currently developing the MQ-25 tanker drone. The company was awarded a contract of worth USD 805 million to design, develop, test, and deliver four MQ-25 drones in August 2018 that can provide refueling services for the Boeing F/A-18 Super Hornet, Lockheed Martin F-35 Lightning II, and EA-18G Growler aircraft. The company was awarded a six-year development contract and plans the initial operational capability of the aircraft by 2024. The US DoD plans to acquire about 72 aircraft with an investment of USD 13 billion in the coming years. In September 2019, the company successfully completed the first flight of the aircraft. Such investments of the armed forces into the development of advanced tanker aircraft in partnership with the aircraft OEMs is anticipated to propel the growth of tanker aircraft market in the future.
North America Held the Highest Market Share in 2019
North America is currently dominating the market and is expected to continue its dominance during the forecast period. This is mainly due to the current plan of the US Air Force to replace approximately 30% of its aging fleet of KC-135 aerial refueling tankers. Currently, there are about 396 KC-135 aircraft in service. Under this plan, in 2011, the Department of Defense (DOD) awarded the Boeing Company, a contract of worth about USD 35 billion to build and deliver 179 new KC-46A aerial refueling tankers. These aircraft are expected to be delivered during the period of 2019 – 2028. As of early March 2020, about 31 KC-46As have been delivered to the US Air Force. Further to capture the growing opportunities of aerial refueling in the US defense industry, Lockheed Martin Corporation and Airbus signed a Memorandum of Agreement in December 2018. Such robust procurement plans of the US armed forces are anticipated to propel the growth of the market during the forecast period.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Tanker Aircraft Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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