Abstract: A system and method is provided for measuring and metering deicing fluid as it is dispensed from a tank onto an aircraft to remove ice and to prevent subsequent icing. The system can include a guided wave radar gauge mounted on the tank to measure the volume of fluid in the tank in real-time. As fluid is dispensed from the tank, the gauge measures the change in the volume of fluid in the tank and transmits the volume of fluid in the tank and the volume of fluid dispensed from the tank to a display/controller. The system can also include a refractometer module to enable the measurement of the concentration of a first constituent fluid relative to a second constituent fluid in a mixture thereof. The system can further measure the concentration of one deicing fluid constituent (e.g. glycol) mixed with another fluid constituent (e.g. water) to determine the freeze point of the deicing fluid.