DUBLIN, Sept. 13, 2023 /PRNewswire/ — The “Aviation Fuel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global aviation fuel market has witnessed substantial growth, achieving a market size of US$ 305.3 billion in 2022. Looking ahead, industry experts project continued expansion, with the market poised to reach US$ 404.5 billion by 2028. This growth trajectory reflects a consistent compound annual growth rate (CAGR) of 4.4% during the period of 2023-2028.
Aviation fuel, a highly refined petroleum-based fuel, is engineered to deliver high energy output with minimal emissions. Boasting a superior energy content and high energy density, it enables aircraft to cover long distances at high speeds. Treated with additives such as antioxidants, antistatic agents, and corrosion inhibitors, aviation fuel is tailored to enhance performance and safety.
This fuel offers aircraft multiple benefits, including stability, lubricity, fluidity, volatility, non-corrosivity, cleanliness, and explosion prevention. It is stored and transported using specialized equipment to ensure safe utilization in aircraft, minimizing the risk of leaks and fires.
Key Highlights:
- Rising Air Travel: The escalating number of air passengers globally and the continuous growth in the aviation industry are pivotal drivers of aviation fuel demand.
- Airline Operations: Changes in airline operations, including scheduling, fleet size, and route networks, have a significant positive influence on the market.
- Defense and Military: Investments in the defense and military sectors, coupled with aviation fuel’s use in surveillance, contribute to market growth.
- Humanitarian Relief: Aviation fuel finds increased usage in transporting ambulatory patients during aeromedical evacuations and providing humanitarian relief in areas prone to severe weather conditions.
- Sustainable Aviation Fuel (SAF): Key industry players are introducing sustainable aviation fuel made from renewable feedstocks, reducing greenhouse gas emissions. Biofuels produced from biological materials are also gaining traction.
- Air Freight: The demand for air freight, recognized as the quickest method of international goods transportation, fuels market growth.
Key Market Segmentation:
The report offers a comprehensive analysis of the global aviation fuel market, including segmentation by fuel type, aircraft type, and end-use:
Breakup by Fuel Type:
- Jet A
- Jet A1
- Jet B
- JP 5
- JP 8
- Avgas
- Biofuel
Breakup by Aircraft Type:
- Fixed Wings
- Rotorcraft
- Others
Breakup by End-Use:
- Commercial
- Military
- Private
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Competitive Landscape:
The report features an extensive analysis of the competitive landscape, including key players such as Abu Dhabi National Oil Company, Bharat Petroleum Corp. Ltd., BP plc, Chevron Corporation, China Aviation Oil (Singapore) Corporation Ltd, Exxon Mobil Corporation, Indian Oil Corporation Ltd., Neste Oyj, Oman Oil Marketing Company SAOG, Petroleo Brasileiro S.A. (Petrobras), Shell plc, TotalEnergies SE, Vitol, and more.
Key Questions Answered:
The report addresses vital questions, including:
- Market Performance: How has the global aviation fuel market performed to date, and what is the outlook for the coming years?
- Market Drivers: What are the key drivers, restraints, and opportunities in the global aviation fuel market?
- Impact Analysis: What is the impact of each driver, restraint, and opportunity on the global aviation fuel market?
- Regional Markets: What are the key regional markets in the global aviation fuel industry?
- Fuel Preferences: What is the breakdown of the market by fuel type, and which is the most attractive fuel in the aviation fuel market?
- Aircraft Types: What is the breakdown of the market by aircraft type, and which is the most attractive aircraft type in the aviation fuel market?
- End-Use Sectors: What is the breakdown of the market by end-use sector, and which is the most attractive sector in the aviation fuel market?
- Competitive Landscape: What is the competitive structure of the global aviation fuel market, and who are the key players?
- Competition Level: What is the degree of competition in the global aviation fuel market?
Key Attributes:
|
Report Attribute |
Details |
|
No. of Pages |
143 |
|
Forecast Period |
2022 – 2028 |
|
Estimated Market Value (USD) in 2022 |
$305.3 Billion |
|
Forecasted Market Value (USD) by 2028 |
$404.5 Billion |
|
Compound Annual Growth Rate |
4.8 % |
|
Regions Covered |
Global |
For more information about this report visit https://www.researchandmarkets.com/r/qn8ofq
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SOURCE Research and Markets
