The Airport Fueling Equipment Market size is projected to reach US$ 287.4 million by 2030 from US$ 184.8 million in 2022. The market is expected to register a CAGR of 5.7% in 2022–2030. Airport fueling equipment can vary in tanker capacity, depending on the specific needs and requirements of the airport and the size of the aircraft fleet it serves. The tanker capacity determines the amount of fuel that can be delivered to aircraft during each refueling operation. The selection of the appropriate tanker capacity is based on factors such as the average fuel consumption of the aircraft served, the frequency of refueling operations, and the airport's fueling infrastructure and storage capacity. Properly sized fueling equipment ensures efficient and timely refueling operations while minimizing downtime. All these factors contribute to meeting the demand for airport fueling equipment in the aviation industry.
As air travel continues to grow in emerging markets, there is a greater demand for modern and efficient fueling operations to support the increasing number of flights and passengers. Many emerging economies are investing heavily in airport infrastructure to boost their connectivity and interest in tourism and trade. Establishing new airports and expanding existing ones require the latest fueling equipment to meet international standards and cater to a diverse range of aircraft. For instance, in April 2023, the government of India announced its plans to invest approximately US$ 11.81 billion in the development of airport infrastructure over the next two years. This investment is a response to the growing travel demand and the need to upgrade and expand existing airport facilities to accommodate the increasing number of passengers and aircraft. With this investment, the adoption of advanced technologies and automation in airport operations, including fueling processes, is rapidly increasing. Smart fueling equipment and monitoring systems can optimize fueling efficiency and reduce the risk of errors. Thus, the rising development of airport infrastructure creates a favorable market environment for innovative and advanced airport fueling equipment, leading to the growth of the airport fueling equipment market
Military and civil airport fueling equipment serve different purposes and are designed to meet the specific requirements of their respective applications. Military fueling equipment is also designed to support the refueling needs of military aircraft, including fighter jets, transport planes, helicopters, and unmanned aerial vehicles (UAVs). Military fueling operations often require specific security measures and specialized equipment to handle different types of military aircraft and fuel types. Civil airport fueling equipment is used to fuel a wide range of civil aircraft, such as commercial airliners, private jets, and other civil aircraft, in compliance with aviation regulations and safety standards. Military fueling equipment is often designed for mobility and ease of deployment in various operational theaters, including remote locations and combat zones.
The worldwide airport count has been rising to cater to a maximum number of airlines and passengers, owing to which investment in expanding the existing airports with new terminals and constructing new airports has also bolstered. As a result, there is a significant demand for new airport fueling equipment. Rising investment in new airports is one of the market's major driving factors. As per the Airport Consultants Council, the US alone will require an investment worth ~ US$ 138 billion over the next five years starting from 2020.
Furthermore, according to several aviation sources, to meet the air passenger demand, huge capital investment is required from the various countries in greenfield airports and expansion of existing airport infrastructure. More than ~ US$ 2 trillion in total capital investment is expected to be required between 2021 and 2040. Such a huge capital investment requirement for the airport construction project will drive the demand for new fueling equipment to supply the fuel at the required time more efficiently. Thus, the rising investment in airport projects is a key driving factor for the market.
The small airports are witnessing increased traffic at their airports and experiencing fueling services problems to meet the requirements. For instance, according to one of the aircraft operators, most pilots or aircraft operators prefer Mossel Bay airport over George Airport to fuel the aircraft. Thus, due to long queues and waiting times in the refueling facility at George Airport. Such airports with small capacity can be a potential opportunity for the market players.
Key segments that contributed to the derivation of the Airport Fueling Equipment Market analysis are tanker capacity, aircraft type, power source, and geography.
The geographic scope of the Airport Fueling Equipment Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America has dominated the Airport Fueling Equipment Market in 2022, and it is expected to retain its dominance during the forecast period as well. Further, Asia Pacific region is likely to register highest CAGR in the airport fueling equipment market during 2022-2030. Many modernization and expansion projects have been initiated in various airports across North America to accommodate the rising number of passengers and flights. These projects often involve investments in advanced fueling equipment to improve operational efficiency and capacity fueling station. In February 2023, the US Federal Aviation Administration (FAA) made an announcement to provide ~US$ 1 billion in funding for ninety-nine airports across the country. It is a significant step in supporting the aviation industry's recovery and preparing for increased air traffic. The funding is part of the US President’s Bipartisan Infrastructure Law, which aims to bolster airport infrastructure and capacity to manage the growing number of passengers and flights. Thus, the presence of robust aviation industry, infrastructure development, technological advancements, sustainability efforts, and government support are a few factors that are creating a favorable environment for the airport fueling equipment market in north American region. As airports strive to enhance their operational efficiency and offer a seamless travel experience, the demand for innovative and efficient fueling equipment is expected to continue rising during the forecast period.
The regional trends and factors influencing the Airport Fueling Equipment Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Airport Fueling Equipment Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 184.8 Million |
| Market Size by 2030 | US$ 287.4 Million |
| Global CAGR (2022-2030) | 5.7% |
| Historical Data | 2020-2021 |
| Forecast period | 2022-2030 |
| Segments Covered |
By Tanker Capacity
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Airport Fueling Equipment Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Airport Fueling Equipment Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Airport Fueling Equipment Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for airport fueling equipment market and strategies:
The “Airport Fueling Equipment Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas: