Aviation Fuel Market
Aviation Fuel Market Size, Share Growth, Opportunity & Trend Analysis, By Fuel Type, By End User, By Application, By Geography, Competitive Tactics, and Segment Forecast to 2031  

Aviation Fuel Market Size, Share Growth, Opportunity & Trend Analysis, By Fuel Type, By End User, By Application, By Geography, Competitive Tactics, and Segment Forecast to 2031  

Energy

PDF,PPT

Reports and Insights

270+

May 2023

Recent

Aviation Fuel Market Introduction:     

Reports & Insights delivers key insights on the global aviation fuel market. In terms of revenue, the global market is estimated to expand at a CAGR of 14.5% during the forecast period 

Aviation Fuel Market Growth Chart

The Reports and Insights team has drafted a market research report on the worldwide market for aviation fuel to identify the primary market drivers, market trends, challenges, and opportunities that business owners encounter. The report includes the market segmentation forecast, geographic perspective, and recent market developments for aviation fuel. Additionally, it provides extensive information on market size, market share, industry and product insights, SWOT analysis, Porter's five forces analysis, PESTEL analysis, heat map analysis, market forecast, and prominent market players for aviation fuel.

Download Free Sample Report

The aviation fuel market refers to the market for the fuel used to power aircraft. There are two types of aviation fuel jet fuel, which is used in turbine engines, and aviation gasoline, which is used in piston engines. The demand for aviation fuel is boosted by the growth of the aviation industry, which is influenced by factors such as economic growth, globalization, and technological advancements. The market is mostly dependent on the price of crude oil, which is the main raw material used in the production of aviation fuel.

Scope of the Report:            

Report Metric            

Report Details            

Market size available for the years            

2021-2031            

Base year             

2022            

Forecast Period            

2023-2031            

CAGR     

14.5%     

Segment covered      

By Fuel Type, By End User, By Application and By Region      

Region Covered

North America:The U.S., & Canada   

      

Latin America:Brazil, Mexico, Argentina, & Rest of Latin America   

       

Asia Pacific:China, India, Japan, Australia, New Zealand, ASEAN, & Rest of Asia Pacific  

        

Europe:The U.K., France, Spain, Italy, Russia, Poland, BENELUX, NORDIC, & Rest of Europe    

      

Africa:North Africa, Egypt, & Rest of Africa        

       

The Middle East:GCC Countries, Israel, & Rest of the Middle East   

   

Fastest Growing Country in Europe  

Germany  

Largest Market     

North America   

Key Players            

ExxonMobil Corporation, Royal Dutch Shell, BP plc, Chevron Corporation, Total SE, Valero Energy Corporation, World Fuel Services Corporation, Air BP, Gazprom Neft, Hindustan Petroleum Corporation Limited (HPCL), Indian Oil Corporation Limited (IOCL), China National Aviation Fuel Group Corporation (CNAF), PetroChina Company Limited, Sinopec Corp., and Neste Corporation, amongst others.      

Aviation Fuel Market Drivers:      

Economic Growth:

Economic growth is a significant driver of the market. As economies grow, the demand for air travel increases, leading to a rise in demand for aviation fuel. Economic growth is often accompanied by an increase in international trade and tourism, which further drives the growth of the aviation industry. This has resulted in more people traveling by air, leading to a rise in demand for aviation fuel. In addition, economic growth has led to an increase in industrial and commercial activities, resulting in a rise in cargo volumes and, therefore, an increase in demand for the market.

Government Regulations:

Government regulations have a significant impact on the market. Governments around the world have implemented regulations aimed at reducing the environmental impact of aviation. These regulations often require airlines to use cleaner-burning fuels, which has led to increased demand for alternative fuels such as biofuels.  

Aviation Fuel Market Challenges:  

Development of Alternative Fuels:

Another challenge for the market is the development of alternative fuels. As more airlines and aircraft manufacturers adopt alternative fuels, the demand for conventional jet fuel is expected to decline. This has the potential to hamper the growth of the market, as traditional fuel suppliers may face lower demand and decreased revenues

Aviation Fuel Market Opportunity:  

Adoption of Sustainable Aviation Fuels:

The aviation industry is under high pressure to reduce its carbon footprint and adopt more sustainable practices. One of the most promising opportunities for the market is the adoption of sustainable aviation fuels (SAF), which are made from renewable resources such as vegetable oils, animal fats, and waste materials. SAFs offer several benefits over traditional fossil fuels, including lower greenhouse gas emissions, reduced dependence on finite resources, and improved air quality. In addition, SAFs are compatible with existing aircraft engines and infrastructure, making them a viable option for the aviation industry.

Growth of Low-Cost Airlines:

The growth of low-cost airlines presents a significant opportunity for the market. Low-cost airlines operate on thin profit margins and are highly sensitive to changes in fuel prices. As a result, low-cost airlines are incentivized to adopt fuel-efficient practices and invest in newer, more fuel-efficient aircraft. For example, airlines such as Ryanair and EasyJet have invested in more fuel-efficient aircraft and adopted practices such as single-engine taxiing and reducing onboard weight to reduce their fuel consumption. This presents an opportunity for the market to develop and supply more fuel-efficient products to low-cost airlines.

Aviation Fuel Market Trends:                   

The market is a critical component of the aviation industry, providing the fuel necessary to power aircraft. The price of crude oil, which is the most important raw material used in the production of aviation fuel, has a significant impact on the market. Market trends in recent years have focused on reducing the carbon footprint of the aviation industry through the adoption of sustainable aviation fuels and the development of more fuel-efficient aircraft. Additionally, the growth of low-cost airlines and the expansion of air travel in emerging markets have created new opportunities for the market to expand its operations and supply more fuel to airlines operating in these markets. Overall, the market is expected to continue to evolve and adapt to changing market trends and demand from the aviation industry  

Aviation Fuel Market Growth:           

The need for the market is predicted to develop over the course of the forecast period as a result of an increase in demand from the form airline industries. Also, technological development helps to gain a wider range of competitive advantages, which propelled the demand for the market.    

Aviation Fuel Market Segmentation Outlook:    

The market is segmented on the basis of fuel type, end user, application, and region.

Aviation Fuel Market Segmentation Table

By Fuel Type:

  • Jet Fuel
  • Aviation Gasoline
  • Biofuels

 

By End-User:

  • Commercial Airlines
  • Military Aircraft
  • General Aviation

 

 By Application:

  • Civil Aviation
  • Military Aviation
  • Unmanned Aerial Vehicles (UAVs)

 

By Region:  

  • North America  
  • Asia-Pacific  
  • Europe  
  • Latin America  
  • Middle East  
  • Africa  

  

Aviation Fuel Industry Regional Outlook:   

The North American market is the largest in the world, driven by the high level of air traffic in the region. The United States is the largest market in the region, accounting for the majority of aviation fuel demand.

The European market is the second-largest in the world, driven by the large number of airports and airlines in the region. The United Kingdom, Germany, and France are the largest markets in the region.

The Asia-Pacific market is the fastest-growing in the world, driven by the rapid expansion of air travel in the region. In the Asia Pacific region, the most dominating countries which are fueling the growth of the market are likely to be China, India, and Japan.

 Contemporary Developments by the Key Players:  

  • ExxonMobil: The company has developed a new biofuel called "HEFA" (hydro processed esters and fatty acids) that can be blended with conventional jet fuel to reduce greenhouse gas emissions. They have also invested in new facilities to produce low-sulfur diesel and marine fuels.

Frequently Asked Question

What is the projected market size & Compound Annual Growth Rate (CAGR) of the aviation fuel market?

The aviation fuel market is estimated to reach at a value of US$ *** Mn by the end of 2023 and expected to reach at a value of US$ *** Mn by 2031 with a significant CAGR of 14.5%.

Which base year is used in the aviation fuel market report?

The base year for the report is 2022 in aviation fuel market.

What segments are covered in aviation fuel market report?

By Fuel Type, By End User, By Application and By Region    

What are the key participating players in the aviation fuel market?

ExxonMobil Corporation, Royal Dutch Shell, BP plc, Chevron Corporation, Total SE, Valero Energy Corporation, World Fuel Services Corporation, Air BP, Gazprom Neft, Hindustan Petroleum Corporation Limited (HPCL), Indian Oil Corporation Limited (IOCL), China National Aviation Fuel Group Corporation (CNAF), PetroChina Company Limited, Sinopec Corp., and Neste Corporation, amongst others.