Global Aviation Fuel Market – Market Size & Forecasting To 2032

Global Aviation Fuel Market – Market Size & Forecasting To 2032

The global aviation fuel marketis estimated to be USD 282.4 billion in 2023 and is projected to reach USD 873.1 billion by 2032, at a CAGR of 13.4% during the forecast period. Aviation fuel is a type of fuel that is specifically intended for use in aircraft. It is a petroleum-based fuel that has been specially developed to fulfil the stringent specifications of aviation engines. Aviation fuels are primarily high-performance, high-octane fuels that are specifically developed to power aircraft engines in a dependable and efficient manner. These fuels are also subject to stringent safety and quality criteria to ensure consistent and safe performance in all types of aviation applications. The expansion and demand of the airline business have a direct impact on the aviation fuel market. The demand for aviation fuel rises as more airlines are founded, more planes are manufactured, and more flights are booked. Over the years, the aviation sector has seen tremendous technology breakthroughs, resulting in more fuel-efficient aircraft and engines. As airlines modernise their fleets to include more fuel-efficient aircraft, they can cut their fuel use, influencing aviation fuel demand.

Based on grade, the market is divided into jet fuel, aviation gasoline and bio kerosene.

Jet fuel is a type of aviation fuel used to power jet engines in aeroplanes. Jet fuel comes in several grades, including Jet A, Jet A-1, Jet B, JP-4, and JP-8. The most prevalent grades of jet fuel are Jet A and Jet A-1, which are kerosene-based fuels with a low freezing point and a high flash point. Jet B is a naphtha-based fuel used in cold weather, whereas JP-4 and JP-8 are military-grade fuels utilised by the United States Department of Defence.

Aviation gasoline, or avgas, is another type of aviation fuel used to power piston engine aircraft. Avgas is a high-octane petrol designed to resist the high heat and pressures associated with piston engine running. Avgas is available in numerous grades, including 80/87, 100/130, and 100LL (low lead).

Biokerosene, commonly known as sustainable aviation fuel (SAF), is a renewable aviation fuel manufactured from plant oils, waste cooking oil, and agricultural wastes. Biokerosene can be utilised in current aircraft engines without modification as a drop-in replacement for conventional jet fuel. Biokerosene has a lower carbon footprint than conventional jet fuel and can help reduce aviation-related greenhouse gas emissions.

Based on end user, the market is divided into commercial aircraft, regional jet, business jet, helicopter and military

Commercial Aircraft: Commercial aircraft are big passenger planes that are used for business purposes by airlines. Jet fuel, a type of kerosene-based fuel designed for use in jet engines, is commonly used in these aircraft.

Regional jets are smaller passenger planes that are meant to fly between smaller airports on shorter trips. These aircraft also use jet fuel, however they may require a different type of jet fuel because of their smaller engines and shorter flights.