info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

Aviation Fuel Market Research Report 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 2032


ID: MRFR/A&D/6946-CR | 120 Pages | Author: Sejal Akre| October 2019

Aviation Fuel Market Overview 


Aviation Fuel Market Size was valued at USD 249.9 billion in 2023. The Aviation Fuel Market is projected to grow to USD 712.6 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.5% during the forecast period (2024 - 2032).


Aviation Fuel Market


Competitive crude oil prices, rising global trade, and growing per capita disposable incomes have led to an increase in air travel across the world. The rising air passenger traffic across the globe is projected to boost the demand for new aircraft, thus driving the expansion of commercial aircraft fleets. According to the US Federal Aviation Administration (FAA), as of 2018, there were more than 22,000 commercial aircraft across the globe.


The existing commercial aircraft are expected to be replaced by more than 40,000 new aircraft over the next 20 years. The global fleet is likely to reach 45,000 aircraft by 2036. Moreover, the high demand for air travel in developing regions, such as Asia-Pacific, the Middle East, and Latin America, is expected to lead to an increase in the number of aircraft in these regions. The FAA also states that over 15,000 aircraft are projected to be delivered in North America and Europe by 2036. These factors are expected to drive the demand for aviation fuel during the forecast period.


However, stringent regulations to minimize CO2 emissions are expected to restrain market growth. Government authorities in several countries have implemented several stringent regulations to reduce carbon emissions. According to the US Environmental Protection Agency, aircraft account for 12% of transportation greenhouse gas emissions in the US. In March 2017, the International Civil Aviation Organization (ICAO) implemented a new aircraft CO2 emissions standard to reduce the impact of aviation greenhouse gas emissions on the environment. These standards are applicable for new aircraft design from 2020 and by 2028, manufacturers would need to adhere to the design norms.


North America is estimated to be a prominent region for the aviation fuel market due to the presence of major market players such as Chevron Corporation in the region. Over the last few years, the domestic air transport services in the US, passenger traffic, and capacity have been recording the highest growth rates. Such developments are expected to fuel the growth of the market.


Companies Covered


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).


Currently, governments in various countries are focusing on reducing air pollution. The use of fuel for the propulsion of aircraft creates harmful gases that deplete the ozone layer and lead to global warming. Thus, alternative fuels play a vital role in balancing the ecosystem by reducing harmful emissions. Scientists in the field of aviation are engaged in research to develop substitutes for aviation fuel. 


In 2018, North America accounted for 47.30% of the global aviation fuel market, followed by Europe with 26.39% of the global market share.


Synopsis


The global aviation fuel market has been segmented based on fuel type, application, and region. Based on fuel type, the market has been segmented into jet fuel, avgas, biofuels, CNG, LNG, and others. Based on application, the market is segmented as commercial, military, and others.


North America led the Market with a Valuation of USD 141.74 Billion in 2022.


The global aviation fuel market has been segmented, by region, into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is expected to be the largest market for aviation fuel. The North American market is expected to register a CAGR of 4.63% during the forecast period. The US government has been increasingly investing in the maintenance and modernization of airports. Additionally, the presence of prominent players, such as Exxon Mobil Corporation, World Energy LLC, and Fulcrum BioEnergy Inc. is expected to encourage market growth during the forecast period.


The Jet Fuel Segment is Expected to Dominate the Market.


Jet fuel is a mixture of hydrocarbons and has a higher flashpoint than other aviation fuel types. Jet A, jet A-1, and jet B are the types of jets fuel used by commercial and military aircraft. The FAA provides guidelines for aviation fuel storage, handling, and dispensing at airports, and pricing and taxing of aviation fuel. Jet fuel has a high-octane rating, thereby enabling it to provide the highest power output, which is driving Aviation Fuel Industry growth.


Key Developments



  • Exxon Mobil: Investing in expansion and new technologies for aviation fuels. Partnering with Boeing to develop sustainable aviation fuels (SAF).



  • Royal Dutch Shell: Steady growth in aviation fuel segment driven by air travel demand. Investing in biofuels and SAF production.



  • In July 2019, Gazprom Neft PJSC entered into an agreement with Air France KLM to provide refueling services to the latter’s scheduled flights at the Nikola Tesla Belgrade International Airport in Serbia.



  • In June 2019, SkyNRG and the Bernal Institute at the University of Limerick, Ireland, signed a memorandum of understanding (MoU) to develop a sustainable aviation fuel supply chain in Ireland. The MoU is projected to enable the company to strengthen its presence in the aviation fuel market in Ireland.



  • In February 2019, Gazprom Neft PJSC entered into an agreement with Aeroflot to provide refueling services at the Baiyun International Airport in Guangzhou, China.


Market Segmentation



  • By Fuel Type: Jet Fuel, Avgas, Biofuels, CNG, LNG, and Others



  • By Application: Commercial, Military, and Others



  • By Region: North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America


 

 

 

 

Frequently Asked Questions (FAQ) :

The revenue of the Global Aviation Fuel Market will be USD 712.6 Billion by 2032

The CAGR of the Global Aviation Fuel Market is over 13.5%.

World Energy, Gazprom Neft PJSC, Shell International BV, and SkyNRG are the top four key players of the Global Aviation Fuel Market.

North America led the Market with a Valuation of USD 141.74 Billion in 2018

Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.