MarketsandMarkets expects the Global Air-to-Air Refueling Market to grow from USD 537 million in 2019 to USD 692 million by 2025, at a CAGR of 4.3% from 2019 to 2025. Factors, such as increasing defense expenditure of countries and increase in the procurement of combat aircraft are some of the major drivers for the market.

Air-to-air refueling is the method of transferring fuel from one aircraft to another in mid-air. The fuel transferring aircraft is known as the tanker while the receiving aircraft is termed as the receiver. This process is adopted only for the military platform. Air-to-air refueling is vital in enabling the receiver aircraft to remain airborne for a longer time, and increase payload capacity, which is critical during military missions. Air-to-air refueling comprises 2 main systems, namely, probe & drogue and boom refueling systems.

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Based on component, the boom segment of the market is projected to grow at the highest CAGR during the forecast period. A boom system is used primarily to enable faster fuel transfer with the creation of aerodynamic forces. They are hydraulically actuated and controlled by the boom operator using a control switch.

In terms of geographic coverage, the air-to-air refueling market has been segmented into 6 regions, namely, North America, Europe, Asia Pacific, Middle East, Latin America, and Africa. The market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period. This is due to the increasing defense budgets of major Asian countries, such as China, India, Japan, and Russia; and increasing orders of fleets of tanker aircraft are expected to drive the demand for aerial refueling systems in the region.

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This market is driven by various factors, such as the development of next-generation aerial tankers. The KC-46 Tanker Program is a major milestone for the development of the next-generation tanker and is expected to enable aircrew to begin operational testing and flight training. KC-46 funding is expected to support various studies and research analyses, which include the 5-nation Future Technology for Aerial Refueling (FTAR) project, and KC-Y/KC-Z planning activities.