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.
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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.
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.
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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.
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.
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Global Airport Fueling Equipment Market Segmentation
By Aircraft Type
- Civil
- Military
By Power Source
- Electric
- Non-Electric
By Tanker Capacity
- Below 5000
- 5000-20000
- Above 20000
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