At 5.1% CAGR, the North America Airport Fueling Equipment Market is Projected to be Worth US$ 104.11 million by 2030, Says Business Market Insights

According to Business Market Insights research, the North America airport fueling equipment market was valued at US$ 69.68 million in 2022 and is expected to reach US$ 104.11 million by 2030, registering a CAGR of 5.1% from 2022 to 2030. Accentuating aircraft order and delivery volumes and rising investment in airport projects attributed to the North America airport fueling equipment market expansion.   

The aviation industry is maturing at a rapid rate over the years, recording a significant number of production and deliveries of aircraft (commercial and military) fleet. The commercial aviation industry is on a tremendous rise over the past few years with the emergence of low-cost carriers (LCCs) and expansion strategies of fleet adopted by the full-service carriers (FSCs). These two factors have showcased massive order volumes on various commercial aircraft manufacturers across the world. Commercial aviation is foreseen to surge in the coming years with an increase in air travel passengers and aircraft volumes. This factor is anticipated to drive the number international flights, thereby boosting the demand for new airport fueling equipment at airports. Airbus and Boeing are the two aircraft manufacturing giants with significantly higher volumes of orders and delivery statistics. These two aircraft original equipment manufacturers (OEMs) are continuously encountering orders for various aircraft models from different civil airlines. The tremendous rise in procurement of aircraft by Boeing and Airbus is one of the most crucial driving factors for the growth of the North America Airport Fueling Equipment Market. As with the increasing number of aircraft and airports, the demand for fueling equipment will also rise.

On the contrary, enhanced lifespan and high capital investment hampers the North America airport fueling equipment market.

Based on tanker capacity, the North America airport fueling equipment market is segmented into Below 5000 liters, 5000-20000 liters, and Above 20000 liters. The 5000-20000 liters segment held 52.6% share of North America airport fueling equipment market in 2022, amassing US$ 36.67 million. It is projected to garner US$ 56.64 million by 2030 to expand at 5.6% CAGR during 2022–2030.

In terms of aircraft type, the North America airport fueling equipment market is bifurcated into civil aircraft and military aircraft. The civil aircraft segment held 74.4% share of North America airport fueling equipment market in 2022, amassing US$ 51.86 million. It is projected to garner US$ 79.20 million by 2030 to expand at 5.4% CAGR during 2022–2030.

Based on power source, the North America airport fueling equipment market is bifurcated into electric and non-electric. The non-electric segment held 88.7% share of North America airport fueling equipment market in 2022, amassing US$ 61.79 million. It is projected to garner US$ 88.12 million by 2030 to expand at 4.5% CAGR during 2022–2030.

By country, the North America airport fueling equipment market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 63.0% share of North America airport fueling equipment market in 2022. It was assessed at US$ 43.93 million in 2022 and is likely to hit US$ 68.45 million by 2030, exhibiting a CAGR of 5.7% during 2022–2030.  

Key players operating the North America airport fueling equipment market are Garsite Progress LLC; Titan Aviation SA; Fuel Proof Ltd; BETA Fueling Systems LLC; General Transervice Inc; BP Plc; and TotalEnergies SE, among others.

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