Industry insight: Defence & Aviation Markets
Aircraft Refuelling Equipment and Fuel Systems Manufacturer Takes Off on the Back of the Defence Boom
Nokia-based technology company Jet-Tekno Oy, a manufacturer of aircraft and helicopter refuelling vehicles, refuelling stations and fuel systems, is poised for rapid growth in the European market. The company aims to more than quadruple its current revenue by 2030. The outlook for growth is exceptionally strong.
Miikkulainen and Ärölä: Jet-Tekno Oy’s CEO Tatu Miikkulainen and Sales and Marketing Director Panu Ärölä are facing an exciting near future – the company has substantial and, importantly, realistic growth prospects driven by the ongoing defence industry boom.
The background to this growth is the strong overall expansion of the defence industry, which is already clearly reflected in order backlogs across the sector. Another key demand driver is the pent-up demand in civil aviation, where investments were largely frozen for five years due to the COVID-19 pandemic. During the current year, this investment gap has begun to unwind in the market.
Jet-Tekno specialises in the development and production of refuelling vehicles and various refuelling container solutions for the aviation and defence sectors. In addition, the company supplies refuelling vehicles to civil aviation customers. Its offering also includes refuelling stations as well as the design and manufacture of fixed fuel systems. The company’s core market is Europe, with a particular focus on Northern Europe, Scandinavia and the Baltic countries.
Revenue to More Than Quadruple by 2030
“Our sales are highly project-based, which allows us to forecast future revenue more accurately than manufacturers selling individual aircraft. We have already sold a significant portion of our production capacity for next year and even for the year after that,” says Panu Ärölä, Sales and Marketing Director of Jet-Tekno Oy.
Jet-Tekno’s revenue this year is approximately EUR 12 million. The revenue forecast for next year is EUR 15–20 million, and a substantial share of capacity for 2027 has already been sold. The company’s objective is to grow revenue to EUR 50 million by 2030.
“We are pleased that our targets are well on track. We are receiving a record number of requests for quotations, and the current level of interest already exceeds what is required to meet our growth targets for the coming years. This demonstrates strong confidence in Jet-Tekno Oy and gives us an excellent foundation for further developing our operations,” says CEO Tatu Miikkulainen.
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There is also strong interest in financing the company’s growth. According to Miikkulainen, discussions regarding additional funding have progressed as planned. Naturally, growth will also require additional personnel.
“We have a wide range of recruitment needs – we will be hiring for sales, engineering and design, production quality control, project management and many other roles. We have new, modern facilities in Nokia that support our growth both in office space and production capacity. We are also expanding our sales and representative network across Europe,” Miikkulainen explains.
Quality and Scalability as the Foundation of Growth
A key competitive factor behind Jet-Tekno’s success is its strong Arctic expertise. The company’s aircraft refuelling vehicles and containerised solutions are designed to operate reliably in harsh Nordic conditions.
“Defence sector customers choose us because we are able to deliver high-quality products that function in demanding environments. In the security sector, it is not enough for a product to work with 90 per cent reliability – it must work every time, in all conditions,” says Ärölä.
The sudden surge in market demand also challenges companies’ ability to scale.
“Our competitive advantage lies in our ability to scale production and schedules while still delivering the highest-quality systems in the world in our field. Our Central European competitors are typically cautious, family-owned companies that are not particularly growth-oriented. Our operating model relies more heavily on subcontracting, which enables us to scale production rapidly when required,” Miikkulainen notes.
Jet-Tekno also operates a comprehensive maintenance and service business.
“We service approximately three hundred different fuel refuelling units annually at our facilities in Nokia. Maintenance requires specialised equipment and ongoing investments. Our new, modern premises enable us to grow towards our EUR 50 million revenue target, both in terms of personnel and production capacity. Internationally, maintenance is carried out through our partner network,” Miikkulainen concludes.
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