Aviation Fuel Market size was valued at US$ 90.75 Bn. in 2021 and the total Aviation Fuel revenue is expected to grow by 16.5% from 2022 to 2027, reaching nearly US$ 226.88 Bn.
Aviation Fuel Market Overview:Aviation fuels are petroleum-based or crude oil fuel mixtures that are used to operate airplanes. They have stricter standards than surface fuels, such as burning, and incorporate additives to improve or retain qualities critical to fuel efficiency or management. The report explores the Aviation Fuel market's segments (Fuel Type, End-User, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Aviation Fuel market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Aviation Fuel market's contemporary competitive scenario. To know about the Research Methodology:- Request Free Sample Report
Aviation Fuel Market Dynamics:The growth of the military aircraft industry is expected to be a major driver of the market growth. Political upheavals and territorial claims continue to drive demand for multi-mission combat helicopters. Numerous countries are also striving to upgrade their assets by replacing existing models with latest generation planes that demand little maintenance and have reduced operating expenses. Many countries are working to reduce their dependency on external vendors for military systems and equipment. Additionally, the exorbitant expenses of procuring foreign aircraft are compelling some emerging countries to start military aircraft production programs. On the other hand, companies are focused on localized military aircraft manufacture and increasing their indigenous system technological capabilities through transfer of technology agreements. Inadequate feedstock and refinery availability to satisfy production targets are expected to be a major restraint in the market growth. Oil plants, sugar crops, microalgae, waste oil, and other biological and non-biological commodities are raw materials that play an essential part in the whole production process of sustainable aviation fuels e.g. synthetic fuels, e-fuels, and biofuels. The insufficient supply of raw materials necessary for the manufacturing of sustainable aviation fuel may bring the market to a halt. Besides that, the drawbacks of refineries, which play an important role in the appropriate usage of feedstock, add to the overall process of production. The insufficient supply of gasoline also creates a barrier to the fuel's mixing capacity, resulting in poorer efficiency. A major challenge in the market growth is that the high cost of aviation fuel raises the operational costs of airlines. Airlines cannot reach their self-imposed objectives for decreasing greenhouse emissions alone through engine and flight upgrades; they require sustainable jet fuel. Fuel prices account for a sizable portion of operational expenses. Sustainable jet fuel, even though it is created from waste and low-cost feedstocks, necessitates extensive and costly technical methods. Because additional manufacturing capacity must be installed, sustainable jet fuel is more costly than normal fuel. This kind of fuel will not be readily available since, for the first decade or so, manufacturing capacity is expected to be produced on a contract basis rather than as a commodity. Building new biodiesel plants takes time and money, raising the price of their products once they are operational and impeding their potential to achieve the critical point of profitability.
Aviation Fuel Market Segment Analysis:By End-User, the commercial aircraft segment is expected to grow at a CAGR of 8.3% in the forecast period. Commercial aircraft is expected to dominate the aviation fuel industry, generating around USD 145 billion by 2027 as air passenger travel increases internationally. The segment share is being driven by rising living standards and expanded transit routes. Additionally, aircraft manufacturers are concentrating on increasing airplane production to meet increased demand, offering a good picture of aviation fuel market sales. The aerospace sector is seeing an increase in demand for aircraft e.g. the B737 and B787. As disposable income rises, so does the inclination for air travel. Rising air passenger traffic in emerging nations contributes to increased revenue generation. Stakeholders in the industry are concentrating on lowering aircraft weight through creative design and effective engines. For example, the Association of Asia Pacific Airlines claimed in 2017 that different airlines in the area transport over 20.5 million tons of cargo and around 1,200 million passengers. The expanding population in countries e.g. India and China, along with relatively improved and cost-effective aircraft with cheap air travel rates, has raised the demand for aircraft.
Aviation Fuel Market Regional Insights:The North American region especially the United States is expected to dominate the Aviation Fuel at the end of the forecast period. For the past two decades, jet fuel has contributed to around 10% of total petroleum refinery output in the United States. Exxon Mobil, Chevron, and BP are among the biggest producers, while Texas and California are among the leading producers. The decisions made by refiners concerning jet fuel production levels include the purchase of machinery and equipment, the selection of crude oil, and the manufacturing of the desired type and amount of goods. This supply chain would need the introduction of large-scale biomass-based aviation fuel generation which is expected to be impacted by the Green New Deal. Airline companies, general aviation operators, business aviation, and the military are significant aviation fuel customers, with the majority of aviation fuel used throughout the United States for domestic, industrial, and civilian flights transporting people, cargo, or both. Fuel economy in commercial aviation has increased substantially over time, owing mostly to aircraft and engine enhancements, as well as tactical and air traffic control advancements. This has led to a drop in overall jet fuel usage in the United States during the last decade. But this situation is expected to change in the forecast period owing to the introduction of sustainable aviation fuel. The objective of the report is to present a comprehensive analysis of the Aviation Fuel Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Aviation Fuel market dynamics, and structure by analyzing the market segments and projecting the Aviation Fuel market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Aviation Fuel market make the report investor’s guide.
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Global Aviation Fuel Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2027 Historical Data: 2017 to 2021 Market Size in 2021: US $ 90.75 Bn. Forecast Period 2022 to 2027 CAGR: 16.5 % Market Size in 2027: US $ 226.88 Bn. Segments Covered: by Fuel Type • Air Turbine Fuel • Aviation Biofuel • AVGAS by End-User • Commercial • Defense • General Aviation
Aviation Fuel Market, by Region• North America • Europe • Asia Pacific • Middle East and Africa • South America
Aviation Fuel Market Key Players• Exxon Mobil Corporation • Chevron Corporation • Shell Plc. • TotalEnergies SE • BP Plc • Gazprom Neft' PAO • Neste Oyj • Swedish Biofuels AB • Red Rock Biofuels LLC • Abu Dhabi National Oil Company • Bharat Petroleum Corp. Ltd. • Indian Oil Corporation Ltd. • Emirates National Oil Company • Valero Energy Corporation • Allied Aviation Services Inc.
FAQs:1. Which is the potential market for the Aviation Fuel in terms of the region? Ans. The USA is the potential market for Aviation Fuel in terms of the region. 2. What are the challenges for new market entrants? Ans. A major challenge in the market growth is that the high cost of aviation fuel raises the operational costs of airlines. 3. What is expected to drive the growth of the Aviation Fuel market in the forecast period? Ans. The growth of the military aircraft industry is expected to be a major driver of the market growth. 4. What is the projected market size & growth rate of the Aviation Fuel Market? Ans. The Aviation Fuel Market size was valued at US$ 90.75 Bn. in 2021 and the total Aviation Fuel revenue is expected to grow by 16.5% from 2022 to 2027, reaching nearly US$ 226.88 Bn. 5. What segments are covered in the Aviation Fuel Market report? Ans. The segments covered are Fuel Type, End-User, and Region.
1. Global Aviation Fuel Market: Research Methodology 2. Global Aviation Fuel Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Aviation Fuel Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Aviation Fuel Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Aviation Fuel Market Segmentation 4.1. Global Aviation Fuel Market, by Fuel Type (2022-2027) • Air Turbine Fuel • Aviation Biofuel • AVGAS 4.2. Global Aviation Fuel Market, by End-User (2022-2027) • Commercial • Defense • General Aviation 5. North America Aviation Fuel Market(2022-2027) 5.1 North American Aviation Fuel Market, By Fuel Type (2022-2027) • Air Turbine Fuel • Aviation Biofuel • AVGAS 5.2 North America Aviation Fuel Market, By End-User (2022-2027) • Commercial • Defense • General Aviation 5.3 North America Aviation Fuel Market, by Country (2022-2027) • United States • Canada • Mexico 6. European Aviation Fuel Market (2022-2027) 6.1. European Aviation Fuel Market, By Fuel Type (2022-2027) 6.2. European Aviation Fuel Market, By End-User (2022-2027) 6.3 European Aviation Fuel Market, by Country (2022-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Aviation Fuel Market (2022-2027) 7.1. Asia Pacific Aviation Fuel Market, By Fuel Type (2022-2027) 7.2. Asia Pacific Aviation Fuel Market, By End-User (2022-2027) 7.3. Asia Pacific Aviation Fuel Market, by Country (2022-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Aviation Fuel Market (2022-2027) 8.1. Middle East and Africa Aviation Fuel Market, By Fuel Type (2022-2027) 8.2. Middle East and Africa Aviation Fuel Market, By End-User (2022-2027) 8.3. Middle East and Africa Aviation Fuel Market, by Country (2022-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Aviation Fuel Market (2022-2027) 9.1. South America Aviation Fuel Market, By Fuel Type (2022-2027) 9.2. South America Aviation Fuel Market, By End-User (2022-2027) 9.3 South America Aviation Fuel Market, by Country (2022-2027) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Exxon Mobil Corporation 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Chevron Corporation 10.3 Shell Plc. 10.4 TotalEnergies SE 10.5 BP Plc 10.6 Gazprom Neft' PAO 10.7 Neste Oyj 10.8 Swedish Biofuels AB 10.9 Red Rock Biofuels LLC 10.10 Abu Dhabi National Oil Company 10.11 Bharat Petroleum Corp. Ltd. 10.12 Indian Oil Corporation Ltd. 10.13 Emirates National Oil Company 10.14 Valero Energy Corporation 10.15 Allied Aviation Services Inc.