Market Size of Tanker Aircraft Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 688.04 Million |
| Market Size (2029) | USD 938.26 Million |
| CAGR (2024 - 2029) | 6.40 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Tanker Aircraft Market Analysis
The Tanker Aircraft Market size is estimated at USD 688.04 million in 2024, and is expected to reach USD 938.26 million by 2029, growing at a CAGR of 6.40% during the forecast period (2024-2029).
- Despite the significant impact of the COVID-19 pandemic on the economy, the market for tanker aircraft market remained unaffected, as the procurement projects were on track, and the sales and revenues of the tanker aircraft market increased steadily for the manufacturing companies.
- 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 the key aircraft market during the forecast period.
- The innovations in existing tanker aircraft, along with introducing the action of new tanker aircraft, are anticipated to attract new customers for the aircraft OEMs. Considering the new technology and innovation, the market is expected to grow in the coming year. However, the expensive installation of refueling systems is a restraining factor that might cause hindrance to market growth.
