the airport utility application is only used to manage Airport WIFI devices ...
It does more than that. AU is also used to communicate with the base stations so as to inform a client when a base station is in need of attention.
... or possible other WIFI routers.
AirPort Utility cannot communicate with third party routers.
There may be additional reasons that AU is an essential OS X component, but they are known only to Apple.
Although you cannot remove it.. you can add an older version utility.
How to load 5.6 into ML.
1. Download 5.6 for Lion.
Click to open the dmg but do not attempt to install the pkg.. it won't work anyway.
2. Download and install unpkg.
Run unpkg on the desktop.. it is very simple.. drag the AirPortUtility56.pkg file over to unpkg.. and it will create a new directory of the same name on the desktop.. drill down.. applications utilities .. there lo and behold is Airport utility 5.6 .. drag it to your main utilities directory or just run it from current location.
You cannot uninstall 6.1 (now 6.2 if you updated) so don't try.. and you cannot or should not run them both at the same time.. so just ignore the toyland version.. the plastic hammer.. and start using 5.6.. a real tool.
For screen shots see this post.
In response to John Galt. If it only manages WIFI deivces and or Base stations and I don't use or want it Why is it not removeable from the Mountain Lion?
This seems very strange as I can remove "I cloud" something I'm more likely to use but not the Air port util?
What is the Air port util doing or requiring that prevents it from being removed from the Mountain Lion Operating system?
I thought I answered that macfrombrampton. It's an essential OS X component, and discussing the reasons essential components cannot be removed is pointless.
You can't remove iCloud or AirPort Utility. You can't remove FaceTime, Preview, Photo Booth, Font Book, or Boot Camp Assistant either. You can only choose not to use them.