Robotic refueling system market in North America is expected to grow from US$ 3.67 Mn in 2018 to US$ 94.73 Mn by the year 2027 with a CAGR of 43.7% from the year 2019 to 2027.
Driving factors such as low cost of operation and flexibility of dispensing different fuels anticipated to have a medium impact on the development of robotic refueling system for the next two years, however, in the next five to ten years, this factor is expected to have high impact on the market owing to the advancement of autonomous vehicle. Robotic refueling system in the short term which is of two years is going to have low impact in the market. However, over the next five years with the advent of autonomous mining activities is expected to have medium impact in the robotic refueling system market and its impact is expected to grow over the next ten years. Security concerns is expected to have medium impact in the robotic refueling systems market growth in the short term. However, by mid and high term, its impact is expected to decrease allowing the robotic refueling system market to grow more independently. The ultimate goal of a cyber-security attack on robotic fueling systems can relate to Cloning of identity, Theft-of-Service, Spoofing, and Feature unlocking. There can be attack against privacy (the goal of these attacks will be gaining knowledge of sensitive information manipulated, stored or communicated by a robotic fueling system); attacks against integrity (these attacks will try to change data or code within a robotic fueling system); attacks against availability (these attacks disrupt the normal operation of the system). Thus, security attacks are the major restraint of robotic refueling system market.
Robotic refueling system market by industry vertical is classified into aerospace and defense, automotive, construction, oil and gas, mining, and others. Aerospace and defense is the largest industry vertical of robotic refueling system market owing to various numbers of pilot projects in the U.S. and other countries across the globe. Wrong fueling of aircraft has resulted in major accidents in the past all occurred due to human negligence. To reduce such kind of accidents, robotic refueling system projects have been put into place to negate the error of wrong fueling. The automotive industry is the second largest industry vertical for robotic refueling system. The general notion of a robotic refueling system is to provide augmented service through robotics and therefore increasing sales and market shares. Refueling automation will disrupt the idea of refueling forever. It’s cleaner faster and more environmentally friendly.
The US dominated the robotic refueling system market in 2018 and is expected to dominate the market with the highest share in the North America region through the forecast period. The US is an economically advanced country and therefore hosts a continuous improvement in various technologies and infrastructure. As per the America First Energy Plan, the government of the country would be embracing gas and shale oil revolution to bring prosperity and jobs to the majority of Americans. On the other hand, in July 2017, the US Army Aviation and Missile Research, Development and Engineering Center revealed AR3P (Autonomous and Robotic Remote Refueling Point) project. Under this, the US Army is performing tests on robotic refueling stations for the helicopters which can refuel helicopters avoiding soldier’s intervention. Besides, developments in robotic refueling system in the US, mining industry of the country is booming driven by improving infrastructure, frac sand mining industry, and less dependence on imports of the materials for mining among others. The figure given below highlights the revenue share of the Mexico in the robotic refueling system market in the forecast period:
Strategic insights for the North America Robotic Refueling System provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the North America Robotic Refueling System refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas. Mexico Robotic Refueling System Market Revenue and Forecasts to 2027 (US$ Mn)
North America Robotic Refueling System Strategic Insights
North America Robotic Refueling System Report Scope
Report Attribute
Details
Market size in 2018
US$ 3.67 Million
Market Size by 2027
US$ 94.73 Million
Global CAGR (2019 - 2027)
43.7%
Historical Data
2016-2017
Forecast period
2019-2027
Segments Covered
By Component
By Fuel
By Industry Vertical
Regions and Countries Covered
North America
Market leaders and key company profiles
North America Robotic Refueling System Regional Insights
NORTH AMERICA ROBOTIC REFUELING SYSTEM MARKET SEGMENTATION
By Fuel
By Component
By Industry Vertical
By Country
Robotic Refueling System Market - Companies Mentioned
The List of Companies
The North America Robotic Refueling System Market is valued at US$ 3.67 Million in 2018, it is projected to reach US$ 94.73 Million by 2027.
As per our report North America Robotic Refueling System Market, the market size is valued at US$ 3.67 Million in 2018, projecting it to reach US$ 94.73 Million by 2027. This translates to a CAGR of approximately 43.7% during the forecast period.
The North America Robotic Refueling System Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Robotic Refueling System Market report:
The North America Robotic Refueling System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Robotic Refueling System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Robotic Refueling System Market value chain can benefit from the information contained in a comprehensive market report.