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Product Overview
Aviation fuel is a type of petroleum-based or kerosene-based fuel used to operate an aircraft. Aviation fuel possesses better quality than fuels used in other modes of transportation. They are produced in different combinations of kerosene, kerosene-gasoline kerosene-biofuel, and others. The fuels used in aviation lessen the risk of icing or explosion due to high temperature, which is obtained by integrating some additives such as corrosion inhibitors and others. Aviation fuel is mainly used by most military aircraft and commercial airlines to increase fuel efficiency and to lower operational costs.
Market Highlights
Global aviation fuel market is anticipated to surpass USD 3,38,705 million by 2030 from USD 2,13,360 million in 2020 at a CAGR of 4.47% throughout the forecast period, i.e. 2020-2030. The market is anticipated to grow on the back of rising air passengers in emerging economies.
The rise in demand from military sectors and an increase in air transportation are expected to be the major factors adding to the market growth. New flight paths and new airports are also estimated to boost the demand for fuel, which will further drive aviation fuel market growth in the coming years.
Global Aviation Fuel Opportunity Analysis
Global Aviation Fuel Market: Segments
Jet A1 segment to grow with the highest CAGR during 2020-2029
Worldwide aviation fuel market is segmented by fuel type into Jet A, Jet A1, Jet B, JP 5, JP 8, Avgas, and Biofuels. The jet A1 segment held the largest market share of xx% in the year 2019, owing to easy reach and higher efficiency in comparison to other fuels. Furthermore, this segment is also estimated to grow with the highest CAGR during the forecast period followed by jet A fuel. The biofuels segment will also grow, due to growing efforts from several governments and companies to lower carbon emissions.
By Fuel Type (in %), Global Aviation Fuel Market, 2019
Fixed Wings segment to grow with the highest CAGR during 2020-2030
Market for aviation fuel is also segmented by aircraft type into Fixed Wings, Rotorcraft, and Others. The fixed wings segment is estimated to hold the largest market share of xx% in the year 2019 as the piston and turbine engines are used in such aircraft, which require fuel as the main source to produce, lift and also drive the aircraft forward.
Civil segment to grow with the highest CAGR during 2020-2030
Worldwide aviation fuel market is segmented by end-users into Civil, Military, Private and Sports & Recreational. Among these, the civil segment is estimated to hold the largest market share of xx% in 2019, owing to the large number of commercial airliners that offer passenger and freight transit services.
By End-users (in %), Global Aviation Fuel Market, 2019
Global Aviation Fuel Market: Drivers and Restraints
Increase in Air Passengers in the Emerging Economies
Demand for aviation fuel is expected to rise significantly in the coming years owing to the increase in airline passenger traffic. Moreover, expanding middle class in emerging countries, diverging demographic outlooks, and liberalization of aviation markets are some of the major factors which are most likely to boost the growth of the market for aviation fuel.
Global Aviation Fuel Market: Key Players
Chevron Corporation
Company Overview
Business Strategy
Key Product Offerings
Financial Performance
Key Performance Indicators
Risk Analysis
Recent Development
Regional Presence
SWOT Analysis
BP p.l.c
Total SA
Oman Oil Company SAOC
Gazprom
Exon Mobil Corporation
Royal Dutch Shell plc
Sinopec Group
Petrobras
Indian Oil Corporation Ltd.
Global Aviation Fuel Market: Regions
Asia Pacific to grow with the highest CAGR during 2020-2030
The global aviation fuel market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA. Among these, the market in Asia Pacific is estimated to hold the largest market share of xx% in the year 2019, owing to an increase in investment by the government, introduction to new flight routes, increased fleet sizes, and high demand for fuel from emerging economies in the region.
By Region (in %), Global Aviation Fuel Market, 2019
Global aviation fuel market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa, and Rest of MENA
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Global aviation fuel market report also contains analysis on:
Aviation Fuel Market Segments:
By Fuel Type
Jet A
Jet A1
Jet B
JP 5
JP 8
Avgas
Biofuels
By Aircraft Type
Fixed Wings
Rotorcraft
Others
By End-users
Civil
Military
Private
Sports & Recreational
By Region
North America
Latin America
Europe
Middle East & Africa
Asia Pacific
Aviation Fuel Market Dynamics
Aviation Fuel Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
FAQs on Global Aviation Fuel Market
Which segment is anticipated to hold the largest market share?
At what CAGR is the market anticipated to grow between 2020 and 2030?
Who are the key players in the worldwide aviation fuel market?
What could be the challenging factors for the growth of the market for aviation fuel?
What are the growth drivers for the aviation fuel market across the globe?