Pune, India, Sept. 28, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Airport Fueling Equipment Market Forecast to 2030 – Global Analysis – by Tanker Capacity (Below 5,000 Liters; 5,000–20,000 Liters; and Above 20,000 Liters), Aircraft Type (Civil Aircraft and Military Aircraft), and Power Source (Electric and Non-Electric) and Geography,” the market was valued at US$ 184.8 million in 2022 and is projected to reach US$ 287.4 million by 2030; it is expected to grow at a CAGR of 5.7% from 2022 to 2030.
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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 due to long queues and waiting times in the refueling facility at George Airport. Such airports with small capacity are likely to generate a potential opportunity for the airport fueling equipment market players in the coming years.
As air travel continues to grow across developing countries, 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 in the country. 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 airport fueling equipment market growth.
Global Airport Fueling Equipment Market Scope:
| Market Size Value in | USD 184.8 Million in 2022 |
| Market Size Value by | USD 287.4 Million by 2030 |
| Growth rate | CAGR of 5.7% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
| Segments covered | Offering, Type, End-User |
| Regional scope | North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Airport Fueling Equipment Market: Competitive Landscape and Key Developments
Garsite, Titan Aviation, Fuel Proof Ltd, Esterer GmbH & Co, BETA Fueling Systems, Stokota, Air BP, Total Energies, Gaussin Emerson Electric Co., and Dr Ing. Ulrich Esterer GmbH & Co Fahrzeugaufbauten und Anlagen KG are among the key airport fueling equipment market players profiled during this study. In addition, several other important airport fueling equipment market players have been studied and analyzed during the study to get a holistic view of the airport fueling equipment market and its ecosystem.
In 2022, SEA Electric partnered with Air bp to design the first all-electric aviation refueller in Australia—EA Electric SEA 500 EV refuller. The refueller can carry approximately 16,000 liters of aviation fuel.
In 2022, Air BP introduced a new custom-designed all-electric refueller for customers lifting Jet-A1 at Brisbane Airport (BNE).
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Airport Fueling Equipment Market Analysis: Aircraft Type Overview
Military and civil airport fueling equipment is one of the segments of airport fueling equipment market serve multiple purposes and are designed to meet the certain requirements of their respective applications. Military fueling equipment is also designed to support the refueling needs of military aircraft, such as 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 several 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. All such factors are fueling the airport fueling equipment market growth.
There is a rising number of air travelers in emerging countries; as a result, the commercial aircraft industry in such countries is witnessing rapid growth in the development of airport infrastructure. These emerging economies are also attracting private investment in airport infrastructure. For instance, in January 2023, Industronics Berhad announced that the consortium was shortlisted to finance the 9,841-acre Kedah airport project in Malaysia. The firm announced its plan to raise the funding to US$ 227 billion for its expansion into Southeast Asia. Airport authorities and fueling companies invest in modern and reliable fueling equipment to meet the growing demands of the aviation industry as well as to ensure passenger safety and comfort. Thus, the rise in private investments is likely to offer numerous opportunities for the civil aircraft segment growth in the airport fueling equipment market during the forecast period.
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