Refueler Tank Market: Overview
Refueler tanks are employed to refuel airplanes and other aviation vehicles. These tanks can be built for overwing and underwing fueling options. They are made of aluminum or stainless steel. Rapid fleet expansion is a major factor driving the global refueler tank market. As of 2017, there were more than 24,000 active, commercial, wide-body and narrow-body aircraft across the globe. The existing commercial aircraft fleets are expected to be replaced by more than 40,000 new aircraft in the next 20 years. Expansion of the existing commercial aircraft fleets along with the launch of new airlines would augment the demand for refueler tanks in the near future. Moreover, global air travel is made easily available by low-cost carriers, whilst airlines are expanding their services in various locations. According to the International Civil Aviation Organization (ICAO), around 3.97 billion passengers flew on scheduled flights across the world in 2017. According to the International Air Transport Association (IATA), this passenger number showed an increase of 8.8% over that in the previous year, as measured in revenue passenger kilometers (RPKs). Furthermore, growing terror threats have prompted several countries to increase their overall defense spending and procure advanced fighter jets to gain an advantage during aerial warfare. This drives the global refueler tank market.
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Refueler Tank Market: Key Segments
The global refueler tank market can be segmented based on material, capacity, application, and region. In terms of material, the market can be divided into aluminum and stainless steel. The aluminum segment is expected to expand at the maximum CAGR during the forecast period, as use of aluminum reduces the weight of the tank. Based on application, the refueler tank market can be classified into up to 2000 gallons, 2000–7000 gallons, and above 7000 gallons.
Based on application, the refueler tank market can be classified into commercial aircraft, military aircraft, and others. The commercial aircraft segment dominates the market. The segment is anticipated to expand at a rapid pace during the forecast period. Increase in the number of air passengers, rise in tourism, and economic growth are driving the demand for commercial aircrafts. This, in turn, is boosting the global refueler tank market.
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Refueler Tank Market: Regional Outlook
Based on region, the global refueler tank market can be categorized into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to account for a leading share of the market between 2018 and 2026. The market in the region is anticipated to expand at a considerable pace during the forecast period. Increasing disposable income of individuals and rising number of air travelers, especially in countries such as China, Indonesia, and India, are driving the market in Asia Pacific. North America is another major region of the global refueler tank market. Several major manufacturers of aircraft such as Boeing and Bombardier operate in the region, leading to high market share of the region. Moreover, approximately 10,000 aircraft are expected to be in service in North America by 2035, which would create an opportunity for prominent companies in the region. The U.S. is a major contributor to the global refueler tank market as well as the market in North America.
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Refueler Tank Market: Key Players
Major companies operating in the global refueler tank market are GARSITE, Amthor International, WESTMOR INDUSTRIES, Sacim SpA, Platinum Tank Group (PTG), STOKOTA, Emiliana Serbatoi S.r.l., Dr.-Ing. Ulrich Esterer GmbH & Co. Fahrzeugaufbauten und Anlagen KG, Refuel International, SkyMark Refuelers, LLC, Tremcar, JungWoo Tank, and Rampmaster.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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