Aviation Fuel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Aviation Fuel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global aviation fuel market size reached US$ 305.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 404.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.4% during 2023-2028. The increasing number of air passengers, rising changes in airline operations, and the burgeoning aviation industry represent some of the key factors driving the market.

Aviation fuel is a highly refined petroleum-based fuel designed to provide high energy output with minimal emissions. It has a higher energy content with high energy density, which allows aircraft to travel long distances at high speeds. It is treated with additives, including antioxidants, antistatic agents, and corrosion inhibitors, to improve its performance and safety. It offers benefits to aircraft, such as stability, lubricity, fluidity, volatility, non-corrosivity, cleanliness, and prevents the risk of explosion. It is stored and transported using specialized equipment to ensure its safe use in aircraft for preventing leaks and minimize the risk of fire.


Aviation Fuel Market Trends:
The increasing number of air passengers worldwide, rising commercial air traffic, and significant growth in the aviation industry are among the major factors driving the demand for aviation fuel around the world. Moreover, the growing changes in airline operations, such as scheduling, fleet size, and route networks, are influencing the market positively. In addition, there is an increase in the incidences of cross-border terrorist activities and illegal trespassing, and rising investments in the defense and military industries. This, coupled with the rising use of the aviation fuel to facilitate surveillance in remote areas on account of their numerous advantages, like landing in difficult and compact areas, is favoring the growth of the market. Furthermore, there is a growing use of aviation fuel due to the rising use of aircraft in areas that are prone to windstorms, tornadoes, hurricanes, and other severe weather conditions for providing humanitarian relief. This, along with their increasing usage in transporting ambulatory patients during aeromedical evacuations, is strengthening the growth of the market. Apart from this, key players are introducing sustainable aviation fuel (SAF) that is made from renewable feedstock, such as waste oils, plant oils, and agricultural residues, to minimize greenhouse gas emissions. They are also focusing on launching biofuels that are produced from biological materials, such as plants, algae, and waste biomass, to improve the sustainability of the industry. Additionally, the growing demand for air freight as it is the fastest way of transporting goods internationally is creating a positive outlook for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global aviation fuel market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on fuel, aircraft and end use.

Fuel Insights:

Jet A
Jet A1
Jet B
JP 5
JP 8
Avgas
Biofuel

The report has provided a detailed breakup and analysis of the aviation fuel market based on the fuel. This includes jet A, jet A1, jet B, JP 5, JP 8, avgas, and biofuel. According to the report, jet A1 represented the largest segment.

Aircraft Insights:

Fixed Wings
Rotorcraft
Others

A detailed breakup and analysis of the aviation fuel market based on the aircraft has also been provided in the report. This includes fixed wings, rotorcraft, and others. According to the report, fixed wings accounted for the largest market share.

End Use Insights:

Commercial
Military
Private
Others

The report has provided a detailed breakup and analysis of the aviation fuel market based on the end use. This includes commercial, military, private, and others. According to the report, commercial represented the largest segment.

Regional Insights:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) was the largest market for aviation fuel. Some of the factors driving the North America aviation fuel market included rising demand for air freight, expansion of aviation industry, product innovations, etc.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global aviation fuel market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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, Petróleo Brasileiro S.A. (Petrobras), Shell plc, TotalEnergies SE, Vitol, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:
How has the global aviation fuel market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global aviation fuel market?
What is the impact of each driver, restraint, and opportunity on the global aviation fuel market?
What are the key regional markets?
Which countries represent the most attractive aviation fuel market?
What is the breakup of the market based on the fuel?
Which is the most attractive fuel in the aviation fuel market?
What is the breakup of the market based on the aircraft?
Which is the most attractive aircraft in the aviation fuel market?
What is the breakup of the market based on end use?
Which is the most attractive end use in the aviation fuel market?
What is the competitive structure of the global aviation fuel market?
Who are the key players/companies in the global aviation fuel market?