"Why not honour the home-grown hero, Sir Hector McGregor," Mr Rankin said, adding that Sir Hector had excellent credentials.
"He was born in Wairoa and educated at Napier Central and Napier Boys' High School, before heading overseas for a career that took him into the highest echelons of the Royal Air Force.
"He began his war service as Officer Commanding in first Egypt and then Palestine, where his leadership qualities earned him a DSO, and then the Battle of Britain saw him in perhaps the hottest seat - OC of 213 Squadron at Biggin Hill and then on to other commands."
Sir Hector's skills in command and aviation saw him appointed Deputy Director of Operations, Intelligence and Plans for the Mediterranean Air Command before taking up a command role in the Middle East.
After World War II, he was appointed director of Guided Missile Development and was also Commander in Chief of Fighter Command in 1959.
He received his knighthood (Knight Commander) from the Queen in 1960.
Mr Rankin said Sir Hector visited his old school, Napier Boys', in 1962 and received a "rousing" welcome from the students. "He died in 1973 and although it appears the Bay has largely forgotten him today he was once well enough thought of to be invited to open the airport's new terminal - an airport now in search of a name."
Mr Rankin said there had once been a plaque at the site to commemorate the occasion in 1964 "but it seems to have been removed during renovations".
He said if there was a need to re-name the airport then it would be fitting that a "great son of Hawke's Bay" and of aviation be considered.