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Aviation Gasoline (Avgas) Market: Segmented: by Application Type(Civil Aviation, Military); By Fuel Type (Avgas, JP 5, Jet A, Jet A1, Jet B, JP 8, and Biofuels); and Region -Analysis of Market Size, Share & Trends for 2016 - 2019 and Forecasts to 2030.
The Aviation Gasoline (Avgas) market to surpass USD 2.8 Billion by 2030, which is valued at USD1.65 billion in 2019 at a compound annual growth rate of 5.00%.
Aviation fuel is a form of fuel for the operation of an aircraft using petroleum or kerosene. This fuel has a higher quality than the fuel used in other transportation systems. They are manufactured in various variations of kerosene-biofuel, kerosene- gasoline, and other biofuels. Fuel used in aviation reduces the risk of freezing or explosion by high temperatures, resulting from the incorporation of certain additives, such as inhibitors of corrosion and others. The main aim of aviation fuel is to improve fuel efficiency and reduce operating costs by the majority of military and commercial aircraft.
According to the report, Increasing numbers of air passengers around the world and volatility in oil and gas prices are having a significant impact on the aviation fuel market. The demand for both military and commercial applications in emerged nations like China and India is largely influenced by air and aircraft fleets. One of the dynamics of the aviation fuel market is an increase in demand for air transport in respect of volume and freight traffic.
Global Aviation Gasoline (Avgas)market has been segmented based on fuel type, application type, and location. It has been further segmented based on region into North America, Europe, Asia-Pacific, Mid East, and Africa.
Jet A1 is anticipated to grow at a CAGR of over XX% from 2019 to 2030
GlobalAviation Gasoline (Avgas)Market is segmented by Fuel type into Avgas, JP 5, Jet A, Jet A1, Jet B, JP 8, and Biofuels. Due to its easy accessibility and improved performance in comparison to other fuels, the jet A1 segment is projected to lead the market share in 2019. This section should also extend during the prediction cycle followed by jet A fuel at a higher CAGR level. Because of the increased efforts by several governments and companies to cut carbon emissions, the biogas sector will also expand.
The civil aviation industry dominated the market with XX% Market share in 2019 and is anticipated to witness significant growth in the forecasted period
Global Aviation Gasoline (Avgas) market is segmented by application type into Civil Aviation, Military. In the applications category, the largest share of the worldwide aviation fuel market over the period forecasted will be accounted for by civil aviation. Due to the growing demand for aviation fuels from the growing countries, the application market in civil aviation will expand at a higher pace in the coming years. Moreover, the potential growth of the aviation fuel market and additives is predicted to decrease with more progress on alternative fuel and improved efficiency of the aircraft motor.
Reducing carbon footprint:
Increased demand for pilot and military and civilian surveillance aircraft is a major factor driving the industry growth. Carbon footprint reduction for the aviation industry is a crucial issue, the market has worked on developing an alternative fuel. One choice is the use of biofuels that have lower carbon emissions during their production cycle. Companies capable of using biofuels in their activities have opportunities to take advantage of the development of aviation fuel additives.
Upsurge in the number of air passengers
Increasing numbers of air passengers around the world and volatility in oil and gas prices are having a significant impact on the aviation fuel market. The demand for both military and commercial applications in emerged nations like China and India is largely influenced by air and aircraft fleets. One of the dynamics of the aviation fuel market is an increase in demand for air transport in respect of volume and freight traffic.
Increasing usage of Simulators
Rising jet engine performance, the use of training simulators, and reduced economic outlooks for developing regions are some of the factors hindering aviation fuels and additives market development.
The Asia Pacific is anticipated to dominate the market with a XX% market share in 2019 growing at a CAGR of XX% over the forecasted period.
With a share value of US$ XX billion, Asia Pacific held the largest industry in 2019. Asia-Pacific has developed in recent decades as one of the most important aviation fuel economies. With the rapid population and rising disposable income of developing nations, air passengers in that region have been growing. Asia-Pacific is anticipated to boost demand for aviation fuel, propelled by changing demographic trends, and by continuous investment in transportation and manufacturing infrastructure. Nations like China, India, and Indonesia are projected to be the fastest-growing additional passenger markets by 2030.
Asia Pacific: China, Japan, India, and Rest of Asia Pacific
Europe: Germany, the UK, France, and Rest of Europe
North America: The US, Mexico, and Canada
Latin America: Brazil and Rest of Latin America
Middle East & Africa: GCC Countries and Rest of Middle East & Africa
Global Aviation Gasoline (Avgas)market is further segmented by region into:
The focus of the markets is on growing their share using mergers and acquisitions. In order to broaden their market range by creating cost-effectively-efficient products with improved properties, industry leaders concentrate on research and development activities. Therefore, manufacturers plan to increase their production capacity to meet the growing demand for goods. The key players are spread across the globe and prefer to carry out their activities through joint ventures. For instance In Nov 2017: Shell Aviation reported that they have entered into a fuel-concession deal for the service at Salalah International Airport in Oman of new in-plane and fuel-based farms as a sole jet-fuel provider.
The incident of the COVID-19 pandemic has led government agencies around the world to impose strict travel restrictions. Several flights were postponed due to the travel ban resulting in lower demand for aviation gasoline. However, the market will start to recover once the travel ban has been lifted and flights begin to operate. The automotive and travel industry is one of the highly vulnerable vertical outbreaks of COVID 19 and now has unparalleled complexity. The COVID-19 should have a profound influence on the automotive supply chain and product demand. The industry has gone from the business disruption from China to the overall downturn in the automotive market. For all non-essential activities, the demand for commercial vehicles will decrease. Also, shifts in consumer purchasing behavior due to the pandemic’s uncertainty could have significant repercussions for the industries near growth prospects.
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