In 2022, the airport fueling equipment market was valued at approximately US$ 184.8 million and is anticipated to grow to US$ 287.4 million by 2030, reflecting a compound annual growth rate (CAGR) of 5.7% from 2022 to 2030.
Numerous modernization and expansion initiatives are currently underway at airports throughout North America to accommodate the increasing volume of passengers and flights. These initiatives frequently involve significant investments in state-of-the-art fueling equipment aimed at enhancing operational efficiency and expanding fueling station capacities. In February 2023, the US Federal Aviation Administration (FAA) announced a funding allocation of around US$ 1 billion for ninety-nine airports nationwide. This funding represents a crucial step in supporting the recovery of the aviation sector and preparing for a surge in air traffic. This financial support is part of the US President?s Bipartisan Infrastructure Law, which seeks to strengthen airport infrastructure and enhance capacity to handle the growing influx of travelers and flights. Consequently, the robust aviation sector, ongoing infrastructure development, technological innovations, sustainability initiatives, and government backing are key factors fostering a positive environment for the airport fueling equipment market in North America. As airports aim to improve their operational efficiency and provide a seamless travel experience, the demand for cutting-edge and efficient fueling equipment is projected to rise throughout the forecast period.
In addition to developed nations, the commercial aviation sectors in developing countries within the Asia-Pacific (APAC) region, including India, China, Malaysia, and Indonesia, are experiencing rapid growth in air passenger numbers, driven by increasing disposable incomes and enhanced lifestyles. Moreover, the burgeoning e-commerce sector in these nations is further propelling the demand for air cargo services. During the COVID-19 pandemic, air cargo services experienced unprecedented growth, marking the highest increase in decades. Therefore, the expansion of the aviation industry in the APAC region is significantly boosting the demand for airport fueling equipment.
Leading manufacturers in the market are concentrating on the development of all-electric refueling vehicles. Prominent fueling service providers such as Shell, BP, World Fuel Services, and Envirotech Vehicles (EVTV) are introducing electric-powered fueling equipment to airports, aiming to decarbonize operations and embrace sustainable practices.
For example,
• In August 2022, Air BP, a fueling service provider, launched its all-electric refueling vehicle at Brisbane Airport, which has a capacity of approximately 16,000 liters of fuel and can operate for a full day with overnight charging.
• Similarly, Shell unveiled a new 20,000-liter refueler equipped with a fully electric fueling system at its Stuttgart Airport facility in Germany. The company is also working on the first semi-trailer hybrid refueler for Lille Airport in France.
• Additionally, in May 2023, World Fuel Services introduced all-electric refueling trucks at Toulon Hy?res Airport (TLN) to distribute Sustainable Aviation Fuel (SAF) to both business and commercial operators at the airport.
• In February 2023, Envirotech Vehicles (EVTV), a US-based manufacturer specializing in electric vehicles, delivered two 900-gallon Avgas refuelers to Atlantic Aviation, marking the introduction of the first all-electric aircraft refueler at this facility.
The increasing development of electric airport refueling equipment is likely to be a significant trend in the market during the forecast period from 2023 to 2030.
Key players in the airport fueling equipment market include 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.
The overall size of the airport fueling equipment market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This approach also aims to provide an overview and forecast of the airport fueling equipment market size across all segments. Furthermore, multiple primary interviews have been conducted with industry participants and experts to validate the data and gain deeper analytical insights. Participants in this process include VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the airport fueling equipment market.