Market Overview

Global Aviation Fuel Market is expected to register a 5.21% CAGR during the forecast period.

Aviation Fuel Market Global Industry Analysis, Technology Trend, Top Key Players, business analysis, projected to grow at a CAGR of  5.21 by 2027

Aviation fuel market is expected to gain significant traction during the forecast period. The market is expected to register a 5.21% CAGR during the forecast period from 2019 to 2025. The growth of the global aviation fuel market can be attributed to an increase in air passenger traffic fueling the demand for new aircraft. Moreover, the rising demand for alternative fuels is expected to encourage market growth.

Market Dynamics

Globalization is the next sought-after industry for the world's economic development. Aviation provides the world's fastest transportation network, which is critical for business and tourism, and aviation fuel is expected to play a significant role. Air travel is expected to increase rapidly in the coming years as a result of socioeconomic, tourism, political, and comprehensive business trading, all of which will contribute to the worldwide market's growth.

Competitive Dynamics

The key players in the global aviation fuel market are Air BP Limited (UK), World Energy (US), Chevron Corporation (US), Exxon Mobil Corporation (US), Gazprom Neft PJSC (Russia), Honeywell International Inc. (US), Indian Oil Corporation Ltd. (India), Shell International BV (Netherlands), Total (France), and SkyNRG (Netherlands).

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Competitive crude oil prices, increased global trade, and higher per capita disposable incomes have all contributed to a global growth in air travel. Globally increasing air passenger traffic is expected to increase demand for new aircraft, resulting in the expansion of commercial aircraft fleets. At the moment, governments in a number of countries are concentrating their efforts on lowering air pollution. The combustion of fuel for aeroplane propulsion produces toxic pollutants that degrade the ozone layer and contribute to global warming. Thus, alternative fuels contribute significantly to environmental balance by reducing harmful emissions.

Simultaneously, key countries are increasing their defence budgets in order to strengthen national security. Additionally, the military plays a critical part in the overall consumption of aviation fuel. Thus, commercial airlines account for a sizable portion of aviation fuel use, followed by military and private planes, delivering good signals to the global market.

However, market growth is projected to be constrained by severe regulations aimed at reducing CO2 emissions.

Segmental Analysis

The worldwide aviation fuel market has been split into three segments: type of fuel, application, and geography.

The market has been split by fuel type into jet fuel, avgas, biofuels, compressed natural gas, and LNG, among others. With a market value of USD 162.7 billion, the jet fuel category held the biggest market share and is predicted to grow at a 4.37 percent compound annual growth rate during the projection period. Jet fuel has a high octane rating, which results in increased engine output, hence promoting market expansion over the projection period.

The market is split by application into commercial, military, and others. The commercial segment was worth USD 268.56 billion in 2018 and is predicted to grow at a 4.87 percent compound annual growth rate over the projection period. Aviation fuel consumption is being driven by the growth of commercial air transport and severe government rules regulating aviation fuel standards.

Regional Overview

North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America comprise the worldwide aviation fuel market.

The North American market is estimated to grow at a 4.63 percent compound annual growth rate during the forecast period. North America is expected to be a significant market for aviation fuel. Domestic air transport services in the United States, passenger traffic, and capacity have all grown at the fastest rates in recent years. These advancements are projected to bolster the market's expansion. The US government has increased its investment in airport upkeep and renovation. Additionally, the presence of well-established players such as Exxon Mobil Corporation, World Energy LLC, and Fulcrum BioEnergy Inc. is projected to boost market growth during the projection period.

Subsequently, rising investment in APAC, advancements in aviation fuel technology, and the presence of the world's fastest growing economies such as China, India, and Japan have resulted in the worldwide market's expansion. China is APAC's top consumer of aviation fuel, followed by Indonesia, Japan, and India.

Europe is predicted to grow at a breakneck pace due to favourable demographics and increased market prospects, which will increase demand for aviation fuel.

Global Aviation Fuel Market: Information by Fuel Type (Jet Fuel, Avgas, Biogas, CNG, LNG, and others), Application (Commercial, Military, and others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2027  @ https://www.marketresearchfuture.com/reports/aviation-fuel-market-8418

The report provides insights on the following pointers:

Chapter 1 Study Coverage

Chapter 2 Executive Summary

 

Chapter 3 Aviation Fuel Market Competitor Landscape by Players

Chapter 4 Aviation Fuel Market Size by Type and Application

Chapter 5 Global and Regional Analysis

Chapter 6 Company Profiles, recent developments, and investments

Chapter 7 Market Opportunities, Challenges, Risks and Influences Factors Analysis

Chapter 8 Value Chain and Sales Channels Analysis with breakthrough product developments

Chapter 9 Research Findings and Conclusion

Chapter 10 Methodology/Research Approach