Aviation Gasoline (Avgas) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Aviation Gasoline (Avgas) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Aviation Gasoline Market

The aviation gasoline market size was valued at USD 2.00 billion in 2023, and the market is now projected to grow from USD 2.09 billion in 2024 to USD 3.21 billion by 2032, exhibiting a CAGR of 5.46% during the forecast period of 2024-2032.

The pandemic led to extensive travel regulations and a decline in aviation fuel demand. Despite a few flights being canceled and education schools closed, the intake of aviation gasoline remained low because of non-public and company aircraft restrictions. However, as countries opened their borders to increase air traffic, the demand for jet fuel is anticipated to normalize in the coming years.

The aviation gasoline market is expected to develop significantly because of the increasing call for small airplanes for pictures, tourism, and sightseeing. Sports like air rallies, aerobatics, and air racing have expanded piston-based totally aircraft income. The General Aviation Manufacturers Association reviews that piston-based plane income increased from 1,409 in 2021 to 1,524 in 2022, indicating ability increase in the aviation gasoline market growth.

Economic enlargement, especially in rising markets, drives extended client spending and enterprise activities, driving the call for air travel. Rising income lets in more people to come up with the money for airfare for entertainment journey, traveling circle of relatives and friends, and exploring new locations. Business opportunities and global trade additionally require frequent air journey for conferences, meetings, and logistics. The tourism enterprise is a vast contributor to air travel demand, driven with the aid of factors like globalization and increasing connectivity. The surge in traveler arrivals drives the call for flights and aviation gas. Business travel stays a vital issue, as companies expand globally and require efficient air transportation for conferences, negotiations, and venture control.

Comprehensive Analysis of Aviation Gasoline Market

The aviation market is segmented into private, commercial, and military. The private segment is expected to dominate the market, holding the largest aviation gasoline market share in 2022. Demand for personal aircraft is driven through a developing range of private jet charter carriers in rising economies and a growing want for shortening journey instances. Chartright Air Group, Canada's biggest non-public jet constitution provider, currently opened its most up-to-date FBO, Hangar 64, at the Region of Waterloo International Airport. The commercial segment is growing because of multiplied demand from philanthropic businesses and large, medium, and small corporations. By the end of 2040, Asia Pacific is expected to have 17,620 aircraft, with 13,660 in the Small category. The military segment is expected to contribute significantly to the market's growth in the coming years due to factors such as fleet replacement programs, security concerns, and territorial disputes.

The North America region lead the aviation gasoline market share by benefitting a market size of USD 1.19 billion in 2023 due to its widespread consumption of aviation fuel and growing variety of personal aviation tourists. The LIFT Academy flight training application has reinforced its partnership with Diamond Aircraft Industries, obtaining a Diamond schooling plane and expanding its fleet to 47 aircraft, together with two DA20 planes. As one among the largest operators of Diamond plane, LIFT Academy coaches around three hundred aviation students annually and has an choice for fifty additional plane.

ExxonMobil and Shell are expected to keep a great marketplace proportion due to their wide product portfolio and international community of massive organizations. However, fierce opposition is predicted as local competitors like Shell, BP Plc, Total, Repsol, Vitol Group, Phillips 66, Indian Oil Corporation Limited, Viva Energy Group, and Hjelmco Oil AB may also create excessive entry limitations inside the destiny.

In July 2023, the Directorate General of Civil Aviation (DGCA) licensed AV GAS 100 LL, a better-octane aviation fuel produced by way of Indian Oil's Vadodara refinery, as assembly product specs and superior performance exceptional standards compared to imported grades.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 5.46% from 2024 to 2032

Unit Value (USD Billion) and Volume (Thousand Tons)

Segmentation By End User

Private

Commercial

Military

By Region

North America (By End-user and Country)

U.S. (By End-user)

Canada (By End-user)

Europe (By End-user and Country)

France (By End-user)

Germany (By End-user)

Russia (By End-user)

Spain (By End-user)

Kazakhstan (By End-user)

Jersey (By End-user)

Poland (By End-user)

Switzerland (By End-user)

Norway (By End-user)

Czech Republic (By End-user)

Austria (By End-user)

Rest of Europe (By End-user)

Asia Pacific (By End-user and Country)

China (By End-user)

Australia (By End-user)

South East Asia (By End-user)

Rest of Asia Pacific (By End-user)

Latin America (By End-user and Country)

Brazil (By End-user)

Mexico (By End-user)

Colombia (By End-user)

Chile (By End-user)

Argentina (By End-user)

Cuba (By End-user)

Ecuador (By End-user)

Rest of Latin America (By End-user)

Middle East & Africa (By End-user and Country)

South Africa (By End-user)

Kenya (By End-user)

GCC (By End-user)

Guinea (By End-user)

Botswana (By End-user)

Liberia (By End-user)

Libya (By End-user)

Rest of Middle East & Africa (By End-user)