Market Overview
The global Airport Fueling Equipment Market was valued at US$ 0.2 billion in 2022 and it is anticipated to grow up to US$ 0.3 billion by 2032, at a CAGR of 5.3% during the forecast period.
The airport fueling equipment market provides a variety of specialized equipment and solutions to enable safe and effective airplane refueling at airports. Fuel trucks/tankers, fuel dispensers, fuel storage tanks, fuel filter carts, and ground fueling equipment are examples of this sort of equipment. The reliable operation of such technology guarantees that airports and airlines run smoothly.
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Market Drivers and Trends
Rising Airport Project Investment is Boosting the Growth of the Airport Fueling Equipment Market. The global airport count has been increasing to accommodate the greatest number of airlines and passengers, resulting in increased expenditure in expanding current airports with additional terminals and building new airports. As a result, there is a considerable need for new airport fueling equipment. One of the primary driving factors in the airport fueling equipment market is rising investment in newly constructed airports. According to the Airport Consultants Council, the United States alone would require an investment of US$ 138 billion over the course of five years, beginning in 2020.
Additionally, small airports are experiencing increased traffic and fueling service issues in order to satisfy the criteria. According to one of the aircraft operators, most pilots or aircraft operators choose Mossel Bay Airport over George Airport for fuel. As a result of large lines and wait periods at George Airport’s refueling station. Such airports with limited capacity may present market participants with an opportunity.. These drivers are likely to propel market expansion.
Market Restraints and Challenges
Enhanced lifespan and more capital investment are expected to hinder the growth of the global airport fueling equipment market. As many countries are suffering from inflation and other economic or financial crisis are not ready to invest heavily into the aviation industry.
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Global Airport Fueling Equipment Market Segmental Overview
The report analyses the global Airport Fueling Equipment Market based on aircraft type, power source, tanker capacity, and region.
Global Airport Fueling Equipment Market by Aircraft Type
Based on aircraft type, the Airport Fueling Equipment Market is segmented into civil, and military. The civil segment is expected to dominate the market during the forecast period. Due to the COVID-19 epidemic, commercial aircraft deliveries fell in 2020. However, aircraft deliveries improved in 2021, with major commercial aircraft OEMs such as Airbus and Boeing increasing aircraft production and delivery rates. In 2021, Boeing delivered 340 aircraft, 245 of which were 737MAX models. After being grounded since March 2019, Boeing’s 737MAX will resume service in November 2020. These figures indicate that commercial aircraft deliveries will remain strong throughout the anticipated timeframe. Airlines’ intentions for aircraft fleet modernisation and destination development result in a steady restoration of aircraft demand, which strengthens aircraft OEM order books. The need for airport fuelling equipment is likely to rise as a result.
Global Airport Fueling Equipment Market by Tanker Capacity
By tanker capacity, the market is classified into below 5000 litres, 5000-20000 litres, and above 20000 litres. The 5000-20000 litres segment dominated the market in 2022 in terms of revenue and is expected to dominate the market during the forecast period. Such equipment is commonly found at medium-sized airports and is suitable for refuelling a wide range of aircraft, notably regional jets, small commercial airliners, and business jets. These fuelling units are intended to provide efficient and dependable fueling services while matching the airport’s and its aircraft fleet’s unique needs. Jet refueled trucks, with tanker capacity that ranges from 5,000 to 20,000 litres, are routinely utilised at medium to large airports. To effectively fuel airplanes on the airport apron, these vehicles are outfitted with gasoline distribution equipment, hoses, and nozzles.
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Major Players in the Global Airport Fueling Equipment Market
The key players studied in the global Airport Fueling Equipment Market are Garsite, Titan Aviation, Fuel Proof Ltd., Esterer GmbH & Co, BETA Fueling Systems, Stokota, Air BP, Total Energies, Gaussin Emerson Electric Co., and Anlagen KG among others.
COVID-19 Impact
The COVID-19 pandemic had a wide-ranging impact on the aviation industry, and the effects are projected to last throughout the prediction period. Passenger traffic in the business sector fell precipitously between 2020 and 2021. With the emergence of numerous pandemic waves in many countries, total recovery is projected to take 2-3 years. However, the return of the Boeing 737MAX to service, as well as the rebound in domestic demand, aided OEMs in getting more orders and boosting aircraft deliveries in 2021, which aided the market for associated fuel systems.
Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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