The military aircraft rubber tanks market was valued at US$ 376. 12 million in 2019 and is projected to reach US$ 564. 67 million by 2027; it is expected to grow at a CAGR of 5. 3% from 2020 to 2027.
New York, Jan. 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Military Aircraft Rubber Tanks Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Material and Aircraft Type" - https://www.reportlinker.com/p06010072/?utm_source=GNW
Governments as well as private and public companies are investing huge amounts in strengthening their military aircraft fleet for combat situations.Increasing threat of terrorism, border security issues, and so on, are creating immense need for advanced military aircraft support.
Market players are continuously enhancing their production capacities to meet emerging needs, and also offering advanced technologies with improved features and quality.For instance, in May 2019, Boeing announced the production of Air Force MH-139 equipped with crashworthy, self-sealing fuel tank.
The company is on the verge of starting the production of aircraft in Agusta-Westland facility, and it is planning to deliver around 10 aircraft per year.Similarly, in July 2018, Indian Defense Ministry demonstrated 114 light combat helicopters (LCHs) for African countries.
The helicopter is equipped crashworthy and self-sealing fuel tanks technology with other features such as low visibility and armor protection. The Ministry of Defense is in talks with certain African countries to deliver the indigenous light combat helicopter with a target of US$ 2 billion worth export. Such increasing demands for self-sealing fuel tank-based aircraft and matching supply of the same by manufacturers are boosting the growth of the military aircraft rubber tank market.
The COVID-19 pandemic situation has hampered the economic growth of almost every country.It has severely impacted the international transportation, which has had deeper effects on the commercial aircraft market.
However, military aircraft industry has witnessed low impact of this downturn.Moreover, the hampered economic growth of countries has led to several months delay in the process of purchasing military aircraft.
The military aerospace industry continued their operations with certain preventions set by the nation’s government but at slower speed.The lowered capacity of military aircraft manufacturers for a certain period hampered the production targets owing to lower staff availability on floor and restrictions such as physical distancing.
In October 2020, Boeing, in its Q3 delivery report, stated decline in military aircraft deliveries by the count of 54 in September. Lower production rate of aircraft lowers the sale of associated components and technologies. This has hampered the military aircraft rubber tank market.
The military aircraft rubber tanks market is segmented on the basis of material and aircraft type.Based on material, the market is segmented into nitrile rubber and urethane rubber.
The nitrile rubber segment held a larger market share in 2019.On the basis of aircraft type, the military aircraft rubber tanks market is segmented into fixed wing aircraft, rotary wing aircraft, and UAV.
The rotary wing aircraft segment held a larger market share in 2019.
The overall military aircraft rubber tanks market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the military aircraft rubber tanks market with respect to all the segments.It also provides the overview and forecast for the global military aircraft rubber tanks market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic.The participants typically involved in this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the military aircraft rubber tanks market.
A few major players operating in the global market are Aero Tec Laboratories, Inc.; Aircraft Rubber Manufacturing (Fuel Safe Systems); Amfuel; FFC, Inc.; Magam Safety Ltd.; Meggitt PLC; M.E.RIN; Musthane; PFW Aerospace GmbH; and Robertson Fuel Systems, LLC.
Read the full report: https://www.reportlinker.com/p06010072/?utm_source=GNW
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