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Global Aviation Fuel Market, By Fuel Type (Jet A, Jet A1, Jet B, JP 5, JP 8, Avgas and Biofuels); By Aircraft Type (Fixed Wings, Rotocraft and Others); By End-users (Civil, Military, Private and Sports & Recreational); and Region - Analysis of Market Size, Share & Trends for 2016 - 2019 and Forecasts to 2030
[ 170 + Pages Research Report ] Aviation fuel market is anticipated to surpass USD 3,38,705 million by 2030 from USD 2,13,360 million in 2020 at a CAGR of 4.47% throughout the forecast period, i.e. 2020-2030.
Aviation fuel is a type of petroleum-based or kerosene-based fuel used to operate an aircraft. Aviation fuel possesses better quality than fuels used in other modes of transportation. They are produced in different combinations of kerosene, kerosene-gasoline kerosene-biofuel, and others. The fuels used in aviation lessen the risk of icing or explosion due to high temperature, which is obtained by integrating some additives such as corrosion inhibitors and others. Aviation fuel is mainly used by most military aircraft and commercial airlines to increase fuel efficiency and lower operational costs.
The global aviation fuel market is anticipated to surpass USD 3,38,705 million by 2030 from USD 2,13,360 million in 2020 at a CAGR of 4.47% throughout the forecast period, i.e. 2020-2030. The market is anticipated to grow on the back of rising air passengers in emerging economies.
The rise in demand from military sectors and an increase in air transportation are expected to be the major factors adding to the market growth. New flight paths and new airports are also estimated to boost the demand for fuel, which will further drive aviation fuel market growth in the coming years.
Source: Fatpos Global
Jet A1 segment to grow with the highest CAGR during 2020-2029
The worldwide aviation fuel market is segmented by fuel type into Jet A, Jet A1, Jet B, JP 5, JP 8, Avgas, and Biofuels. The jet A1 segment held the largest market share of xx% in the year 2019, owing to easy reach and higher efficiency in comparison to other fuels. Furthermore, this segment is also estimated to grow with the highest CAGR during the forecast period followed by jet A fuel. The biofuels segment will also grow, due to growing efforts from several governments and companies to lower carbon emissions.
Source: Fatpos Global
Fixed Wings segment to grow with the highest CAGR during 2020-2030
The market for aviation fuel is also segmented by aircraft type into Fixed Wings, Rotorcraft, and Others. The fixed wings segment is estimated to hold the largest market share of xx% in the year 2019 as the piston and turbine engines are used in such aircraft, which require fuel as the main source to produce, lift and also drive the aircraft forward.
A civil segment to grow with the highest CAGR during 2020-2030
The worldwide aviation fuel market is segmented by end-users into Civil, Military, Private, and Sports & Recreational. Among these, the civil segment is estimated to hold the largest market share of xx% in 2019, owing to the large number of commercial airliners that offer passenger and freight transit services.
Source: Fatpos Global
Increase in Air Passengers in the Emerging Economies
Demand for aviation fuel is expected to rise significantly in the coming years owing to the increase in airline passenger traffic. Moreover, expanding middle class in emerging countries, diverging demographic outlooks, and liberalization of aviation markets are some of the major factors which are most likely to boost the growth of the market for aviation fuel.
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The global aviation fuel market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA. Among these, the market in the Asia Pacific is estimated to hold the largest market share of xx% in the year 2019, owing to an increase in investment by the government, introduction of new flight routes, increased fleet sizes, and high demand for fuel from emerging economies in the region.
By Region (in %), Global Aviation Fuel Market, 2019
Source: Fatpos Global
The global aviation fuel market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Aviation Fuel Market Segments:
By Fuel Type
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