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Global Aviation Fuel Market Report 2023: Rising Initiatives by Governments to Adopt SAF Fuels Growth
Global Aviation Fuel Market
Dublin, March 14, 2023 (GLOBE NEWSWIRE) -- The "Global Aviation Fuel Market by Fuel Type (Conventional Fuel-Air Turbine Fuel, Avgas, Sustainable Fuel- Biofuel, Hydrogen Fuel, Power-To-Liquid, Gas-To-Liquid), Aircraft Type (Fixed Wing, Rotary Wing, Unmanned Aerial Vehicle) & Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The aviation fuel market size is expected to grow from USD 249.9 billion in 2022 and is projected to reach USD 696.2 billion by 2030, at a CAGR of 13.7% during the forecast period. The market for aviation fuel is driven by various factors, such as demand to reduce emissions and increasing air passenger traffic. However, price difference between SAF and conventional jet fuel is limiting the overall growth of the market.
The power-to-liquid segment of sustainable fuel is estimated to register the highest CAGR of the aviation fuel market from 2022 to 2030
Based on sustainable fuel type, the power-to-liquid segment of the aviation fuel market is estimated to register highest CAGR from 2022 to 2030. Increasing need to develop renewable aviation fuels is driving the growth of power-to-liquid segment of aviation fuel market. The economic feasibility of power-to-liquid sustainable aviation fuel is one of the significant factors driving the growth of the aviation fuel market.
The narrow body aircraft type is estimated to account for the largest share of the aviation fuel market in 2022
Based on aircraft type, the narrow body aircraft is estimated to account for the largest share of the aviation fuel market in 2022. Traditionally, narrow bodies have been used for short and medium-haul flights. But technological advances, such as improved design, light composite materials, and the use of biofuel, have made it possible to fly them over longer distances due to improved fuel efficiency. With the rise in air travel and air passenger traffic, there has been a surging demand for narrow-body aircraft. These are the driving factors that are leading to the growth of aircraft type segment of the aviation fuel market.
North America is estimated to account for the largest share of the aviation fuel market in 2022
North America is estimated to account for the largest share of the aviation fuel market in 2022. The aviation and aerospace sectors in the region are growing steadily. This has consequently created a significant demand for aviation fuel. The growth of the aviation fuel market in this region is driven by factors such as the increased use of aircrafts by airlines to meet the passenger traffic, largest aircraft fleet size, and the presence of major aviation fuel refineries.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on aviation fuel offered by top players in the market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the aviation fuel market
Market Development: Comprehensive information about lucrative markets - the report analyzes the aviation fuel market across varied regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the aviation fuel market
Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the aviation fuel market
Market Dynamics
Drivers
Demand to Reduce Emissions
Rising Initiatives by Governments to Adopt SAF
Better Fuel Efficiency of SAF Than Conventional Fuel
Restraints
Inadequate Availability of Feedstock and Refineries to Meet SAF Production Demand
Harmful Environmental Effects of Aviation Fuel
Rising Electric and Hybrid Aircraft
Price Difference Between SAF and Conventional Jet Fuel
Opportunities
Increasing Crude Oil Prices
Growing Need for Alternative Aviation Fuel
Initiatives by Us Government to Reduce Tax on Aviation Fuel
Challenges
High Investments for Approval and Certification of SAF
Large Production of SAF Required to Meet Fuel Demand
Key Attributes:
Report Attribute | Details |
No. of Pages | 250 |
Forecast Period | 2022 - 2030 |
Estimated Market Value (USD) in 2022 | $249.9 Billion |
Forecasted Market Value (USD) by 2030 | $696.2 Billion |
Compound Annual Growth Rate | 13.7% |
Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
6.1 Introduction
6.2 Technology Trends
6.2.1 Fractional Distillation
6.2.2 Hydrothermal Liquefaction
6.2.3 Pyrolysis
6.3 Emerging Industry Trends
6.3.1 Alcohol-To-Jet (Atj)
6.3.2 Hycogen
6.3.3 Hybrid Electric Propulsion (Hep)
6.3.4 Sun-To-Liquid Solar Fuel
6.3.5 Hydrogen Fuel Cells (Hydrogen Propulsion)
6.3.6 Fischer-Tropsch (Ft)
6.4 Supply Chain Analysis
6.5 Impact of Megatrend
6.6 Innovation and Patent Registrations
7 Aviation Fuel Market, by Fuel Type
7.1 Introduction
7.2 Conventional Fuel
7.2.1 Aviation Turbine Fuel
7.2.1.1 Jet A
7.2.1.2 Jet A1
7.2.2 Avgas
7.3 Sustainable Fuel
7.3.1 Biofuel
7.3.2 Hydrogen Fuel
7.3.3 Power-To-Liquid
7.3.4 Gas-To-Liquid
8 Aviation Fuel Market, by Aircraft Type
8.1 Introduction
8.2 Fixed Wing
8.2.1 Commercial Aviation
8.2.1.1 Narrow Body Aircraft
8.2.1.2 Wide Body Aircraft
8.2.1.3 Regional Jet
8.2.2 Military Aviation
8.2.2.1 Fighter Aircraft
8.2.2.2 Transport Aircraft
8.2.2.3 Special Mission Aircraft
8.2.3 Business Jet & General Aviation
8.2.3.1 Business Jet
8.2.3.2 Light Aircraft
8.3 Rotary Wing
8.3.1 Civil Helicopter
8.3.2 Military Helicopter
8.4 Unmanned Aerial Vehicle (Uav)
8.4.1 Fixed Wing Uav
8.4.2 Rotary Wing Uav
8.4.3 Hybrid Wing Uav
9 Aviation Fuel Market, by Region
11 Company Profiles
12 Appendix
Companies Mentioned
Aemetis
Bharat Petroleum Corporation
British Petroleum (Bp)
Chevron Corporation
Exxon Mobil Corporation
Fulcrum Bioenergy
Gazprom
Gevo Inc.
Indian Oil Corporation
Lanzatech
Lukoil
Marathon Petroleum Corporation
Neste
Northwest Advanced Bio-Fuels, LLC
Petrobras
Prometheus Fuels
Red Rock Biofuels
Shell
Sinopec Corporation
Totalenergies
Valero Energy Corporation
Virent
Wastefuel
World Energy
World Fuel Services
For more information about this report visit https://www.researchandmarkets.com/r/cs0q0v
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