Aviation Fuel
Aviation Fuel Market Forecasts to 2030 - Global Analysis By Fuel Type (Sustainable Fuel, Conventional Fuel and Other Fuel Types), Aircraft Type, End User and By Geography
According to Stratistics MRC, the Global Aviation Fuel Market is accounted for $289.1 billion in 2023 and is expected to reach $802.4 billion by 2030 growing at a CAGR of 15.7% during the forecast period. Aviation fuel, a specialized type of liquid fuel, is crucial for powering aircraft engines. Typically derived from refined petroleum, it undergoes rigorous quality control to meet stringent aviation standards. Jet fuel, the most common type, provides the energy needed for propulsion in jet engines. Composed of hydrocarbons, its properties are carefully calibrated to ensure optimal performance, efficiency, and safety during flight.
According to International Air Transport Association (IATA), approximately 90% of cargo in international trade is shipped via sea route, and only around 0.5% is transported by air. But this transport by air cargo translates to around 35% of world trade by value or nearly $6 trillion in value.
Market Dynamics:
Driver:
Air travel demand
The market continues to be influenced by air travel demand, a pivotal factor in its dynamics. As global travel rebounds, the demand for aviation fuel is expected to rise, driven by increased flight operations. Factors such as economic recovery, easing travel restrictions, and growing tourism contribute to the surge in demand. Market participants closely monitor these trends to adjust production and distribution strategies, ensuring the industry aligns with the evolving needs of the aviation sector.
Restraint:
Environmental concerns
The market faces pressing environmental concerns due to the significant carbon footprint associated with traditional fossil fuels. The combustion of aviation fuels contributes to greenhouse gas emissions, exacerbating climate change. Efforts to mitigate environmental impact include the development and adoption of sustainable aviation fuels (SAFs) derived from renewable sources. The industry grapples with challenges such as scalability, cost competitiveness, and infrastructure adaptation.
Opportunity:
Technological advancements
Biofuels, synthesized from renewable sources, are gaining prominence as eco-friendly alternatives to traditional aviation fuels. Advancements in fuel additives and combustion technologies aim to enhance engine performance and reduce emissions. The development of synthetic fuels and hydrogen-based propulsion systems reflects the industry's commitment to addressing environmental concerns while ensuring future aviation sustainability. The market has witnessed significant technological advancements, focusing on sustainability and efficiency.
Threat:
Volatility in oil prices
Fluctuations in crude oil prices, geopolitical tensions, and global economic factors contribute to unpredictable shifts in aviation fuel prices. This volatility underscores the importance of risk management strategies and the need for the aviation industry to adapt swiftly to changing economic and geopolitical conditions to ensure stability and sustainability. The market experiences heightened volatility in oil prices, significantly impacting operational costs for airlines.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the aviation fuel market as widespread travel restrictions and reduced air travel demand led to a sharp decline in aviation fuel consumption. Airlines grounded fleets, resulting in decreased fuel requirements and a surplus in the market. The oversupply and diminished demand caused a substantial drop in prices, affecting fuel suppliers and oil companies. The aviation industry's slow recovery further prolonged the challenges faced by the aviation fuel market, emphasizing the market's vulnerability to external shocks and global crises.
The conventional fuel segment is expected to be the largest during the forecast period
The conventional fuel segment is expected to be the largest during the forecast period. Conventional aviation fuel, typically derived from fossil sources like crude oil, dominates the aviation fuel market. Jet fuel, a refined form of kerosene, is the primary choice for powering commercial and military aircraft. While there are ongoing efforts to explore alternative fuels such as biofuels and synthetic fuels to reduce environmental impact, conventional aviation fuel remains the dominant player due to its established infrastructure and compatibility with existing aircraft engines.
The commercial aviation segment is expected to have the highest CAGR during the forecast period
The commercial aviation segment is expected to have the highest CAGR during the forecast period. With a constant need for efficient and sustainable energy sources, the industry focuses on advancements in biofuels and eco-friendly alternatives. Regulatory initiatives and technological innovations continue to shape the sector, aiming for reduced carbon emissions and increased fuel efficiency. As the global demand for air travel grows, the commercial aviation segment remains a key influencer in shaping the future landscape of the aviation fuel market.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. With a focus on sustainable aviation fuels, the industry is witnessing increased investments in research and development for cleaner alternatives. Regulatory initiatives and collaborations among key players aim to reduce the environmental impact of aviation. Despite challenges posed by fluctuating oil prices, the North American aviation fuel market continues to evolve, embracing innovation and sustainability to meet the demands of a dynamic industry.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period. The region's economic development and rising disposable incomes contribute to increased airline activities. With a surge in fleet expansions and new airline ventures, the demand for aviation fuel has escalated. Government initiatives supporting the aviation sector further boost market dynamics. Key players in the region are strategically investing in infrastructure and sustainable fuel solutions to meet the evolving needs of the burgeoning aviation industry in the region.
Key players in the market
Some of the key players in Aviation Fuel market include EAviation Fuelon Mobil Corporation, Chevron Corporation, Shell Plc, Indian Oil Corporation Limited, TotalEnergies SE, Valero Energy Corporation, Marathon Petroleum Corporation, Bharat Petroleum Corporation Limited, World Fuel Service, Red Rock Biofuels LLC, Emirates National Oil Company, Allied Aviation Services Inc., Abu Dhabi National Oil Company, Red Rock Biofuels LLC, Swedish Biofuels AB and Boeing.
Key Developments:
In February 2023, Boeing has secured agreements to procure 5.6 million gallons (21.2 million liters) of blended sustainable aviation fuel (SAF) from Neste, the foremost producer of SAF globally. This procurement is aimed at supporting Boeing's U.S. commercial operations until 2023.
In January 2023, The Indian Oil Corporation (IOC) initiated the export of aviation fuel, catering to the requirements of small aircraft and unmanned aerial vehicles (UAVs). This move allows India to enter the global market, valued at approximately USD 2.7 billion, by venturing into petroleum exports.
Fuel Types Covered:
• Sustainable Fuel
• Conventional Fuel
• Other Fuel Types
Aircraft Types Covered:
• Unmanned Aerial Vehicle
• Fixed Wing
• Rotary Wing
• Other Aircraft Types
End Users Covered:
• Military Aviation
• Commercial Aviation
• General Aviation
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Aviation Fuel Market, By Fuel Type
5.1 Introduction
5.2 Sustainable Fuel
5.3 Conventional Fuel
5.4 Other Fuel Types
6 Global Aviation Fuel Market, By Aircraft Type
6.1 Introduction
6.2 Unmanned Aerial Vehicle
6.3 Fixed Wing
6.4 Rotary Wing
6.5 Other Aircraft Types
7 Global Aviation Fuel Market, By End User
7.1 Introduction
7.2 Military Aviation
7.3 Commercial Aviation
7.4 General Aviation
7.5 Other End Users
8 Global Aviation Fuel Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 EAviation Fuelon Mobil Corporation
10.2 Chevron Corporation
10.3 Shell Plc
10.4 Indian Oil Corporation Limited
10.5 TotalEnergies SE
10.6 Valero Energy Corporation
10.7 Marathon Petroleum Corporation
10.8 Bharat Petroleum Corporation Limited
10.9 World Fuel Service
10.10 Red Rock Biofuels LLC
10.11 Emirates National Oil Company
10.12 Allied Aviation Services Inc.
10.13 Abu Dhabi National Oil Company
10.14 Red Rock Biofuels LLC
10.15 Swedish Biofuels AB
10.16 Boeing
List of Tables
1 Global Aviation Fuel Market Outlook, By Region (2021-2030) ($MN)
2 Global Aviation Fuel Market Outlook, By Fuel Type (2021-2030) ($MN)
3 Global Aviation Fuel Market Outlook, By Sustainable Fuel (2021-2030) ($MN)
4 Global Aviation Fuel Market Outlook, By Conventional Fuel (2021-2030) ($MN)
5 Global Aviation Fuel Market Outlook, By Other Fuel Types (2021-2030) ($MN)
6 Global Aviation Fuel Market Outlook, By Aircraft Type (2021-2030) ($MN)
7 Global Aviation Fuel Market Outlook, By Unmanned Aerial Vehicle (2021-2030) ($MN)
8 Global Aviation Fuel Market Outlook, By Fixed Wing (2021-2030) ($MN)
9 Global Aviation Fuel Market Outlook, By Rotary Wing (2021-2030) ($MN)
10 Global Aviation Fuel Market Outlook, By Other Aircraft Types (2021-2030) ($MN)
11 Global Aviation Fuel Market Outlook, By End User (2021-2030) ($MN)
12 Global Aviation Fuel Market Outlook, By Military Aviation (2021-2030) ($MN)
13 Global Aviation Fuel Market Outlook, By Commercial Aviation (2021-2030) ($MN)
14 Global Aviation Fuel Market Outlook, By General Aviation (2021-2030) ($MN)
15 Global Aviation Fuel Market Outlook, By Other End Users (2021-2030) ($MN)
16 North America Aviation Fuel Market Outlook, By Country (2021-2030) ($MN)
17 North America Aviation Fuel Market Outlook, By Fuel Type (2021-2030) ($MN)
18 North America Aviation Fuel Market Outlook, By Sustainable Fuel (2021-2030) ($MN)
19 North America Aviation Fuel Market Outlook, By Conventional Fuel (2021-2030) ($MN)
20 North America Aviation Fuel Market Outlook, By Other Fuel Types (2021-2030) ($MN)
21 North America Aviation Fuel Market Outlook, By Aircraft Type (2021-2030) ($MN)
22 North America Aviation Fuel Market Outlook, By Unmanned Aerial Vehicle (2021-2030) ($MN)
23 North America Aviation Fuel Market Outlook, By Fixed Wing (2021-2030) ($MN)
24 North America Aviation Fuel Market Outlook, By Rotary Wing (2021-2030) ($MN)
25 North America Aviation Fuel Market Outlook, By Other Aircraft Types (2021-2030) ($MN)
26 North America Aviation Fuel Market Outlook, By End User (2021-2030) ($MN)
27 North America Aviation Fuel Market Outlook, By Military Aviation (2021-2030) ($MN)
28 North America Aviation Fuel Market Outlook, By Commercial Aviation (2021-2030) ($MN)
29 North America Aviation Fuel Market Outlook, By General Aviation (2021-2030) ($MN)
30 North America Aviation Fuel Market Outlook, By Other End Users (2021-2030) ($MN)
31 Europe Aviation Fuel Market Outlook, By Country (2021-2030) ($MN)
32 Europe Aviation Fuel Market Outlook, By Fuel Type (2021-2030) ($MN)
33 Europe Aviation Fuel Market Outlook, By Sustainable Fuel (2021-2030) ($MN)
34 Europe Aviation Fuel Market Outlook, By Conventional Fuel (2021-2030) ($MN)
35 Europe Aviation Fuel Market Outlook, By Other Fuel Types (2021-2030) ($MN)
36 Europe Aviation Fuel Market Outlook, By Aircraft Type (2021-2030) ($MN)
37 Europe Aviation Fuel Market Outlook, By Unmanned Aerial Vehicle (2021-2030) ($MN)
38 Europe Aviation Fuel Market Outlook, By Fixed Wing (2021-2030) ($MN)
39 Europe Aviation Fuel Market Outlook, By Rotary Wing (2021-2030) ($MN)
40 Europe Aviation Fuel Market Outlook, By Other Aircraft Types (2021-2030) ($MN)
41 Europe Aviation Fuel Market Outlook, By End User (2021-2030) ($MN)
42 Europe Aviation Fuel Market Outlook, By Military Aviation (2021-2030) ($MN)
43 Europe Aviation Fuel Market Outlook, By Commercial Aviation (2021-2030) ($MN)
44 Europe Aviation Fuel Market Outlook, By General Aviation (2021-2030) ($MN)
45 Europe Aviation Fuel Market Outlook, By Other End Users (2021-2030) ($MN)
46 Asia Pacific Aviation Fuel Market Outlook, By Country (2021-2030) ($MN)
47 Asia Pacific Aviation Fuel Market Outlook, By Fuel Type (2021-2030) ($MN)
48 Asia Pacific Aviation Fuel Market Outlook, By Sustainable Fuel (2021-2030) ($MN)
49 Asia Pacific Aviation Fuel Market Outlook, By Conventional Fuel (2021-2030) ($MN)
50 Asia Pacific Aviation Fuel Market Outlook, By Other Fuel Types (2021-2030) ($MN)
51 Asia Pacific Aviation Fuel Market Outlook, By Aircraft Type (2021-2030) ($MN)
52 Asia Pacific Aviation Fuel Market Outlook, By Unmanned Aerial Vehicle (2021-2030) ($MN)
53 Asia Pacific Aviation Fuel Market Outlook, By Fixed Wing (2021-2030) ($MN)
54 Asia Pacific Aviation Fuel Market Outlook, By Rotary Wing (2021-2030) ($MN)
55 Asia Pacific Aviation Fuel Market Outlook, By Other Aircraft Types (2021-2030) ($MN)
56 Asia Pacific Aviation Fuel Market Outlook, By End User (2021-2030) ($MN)
57 Asia Pacific Aviation Fuel Market Outlook, By Military Aviation (2021-2030) ($MN)
58 Asia Pacific Aviation Fuel Market Outlook, By Commercial Aviation (2021-2030) ($MN)
59 Asia Pacific Aviation Fuel Market Outlook, By General Aviation (2021-2030) ($MN)
60 Asia Pacific Aviation Fuel Market Outlook, By Other End Users (2021-2030) ($MN)
61 South America Aviation Fuel Market Outlook, By Country (2021-2030) ($MN)
62 South America Aviation Fuel Market Outlook, By Fuel Type (2021-2030) ($MN)
63 South America Aviation Fuel Market Outlook, By Sustainable Fuel (2021-2030) ($MN)
64 South America Aviation Fuel Market Outlook, By Conventional Fuel (2021-2030) ($MN)
65 South America Aviation Fuel Market Outlook, By Other Fuel Types (2021-2030) ($MN)
66 South America Aviation Fuel Market Outlook, By Aircraft Type (2021-2030) ($MN)
67 South America Aviation Fuel Market Outlook, By Unmanned Aerial Vehicle (2021-2030) ($MN)
68 South America Aviation Fuel Market Outlook, By Fixed Wing (2021-2030) ($MN)
69 South America Aviation Fuel Market Outlook, By Rotary Wing (2021-2030) ($MN)
70 South America Aviation Fuel Market Outlook, By Other Aircraft Types (2021-2030) ($MN)
71 South America Aviation Fuel Market Outlook, By End User (2021-2030) ($MN)
72 South America Aviation Fuel Market Outlook, By Military Aviation (2021-2030) ($MN)
73 South America Aviation Fuel Market Outlook, By Commercial Aviation (2021-2030) ($MN)
74 South America Aviation Fuel Market Outlook, By General Aviation (2021-2030) ($MN)
75 South America Aviation Fuel Market Outlook, By Other End Users (2021-2030) ($MN)
76 Global Aviation Fuel Market Outlook, By Country (2021-2030) ($MN)
77 Global Aviation Fuel Market Outlook, By Fuel Type (2021-2030) ($MN)
78 Global Aviation Fuel Market Outlook, By Sustainable Fuel (2021-2030) ($MN)
79 Global Aviation Fuel Market Outlook, By Conventional Fuel (2021-2030) ($MN)
80 Global Aviation Fuel Market Outlook, By Other Fuel Types (2021-2030) ($MN)
81 Global Aviation Fuel Market Outlook, By Aircraft Type (2021-2030) ($MN)
82 Global Aviation Fuel Market Outlook, By Unmanned Aerial Vehicle (2021-2030) ($MN)
83 Global Aviation Fuel Market Outlook, By Fixed Wing (2021-2030) ($MN)
84 Global Aviation Fuel Market Outlook, By Rotary Wing (2021-2030) ($MN)
85 Global Aviation Fuel Market Outlook, By Other Aircraft Types (2021-2030) ($MN)
86 Global Aviation Fuel Market Outlook, By End User (2021-2030) ($MN)
87 Global Aviation Fuel Market Outlook, By Military Aviation (2021-2030) ($MN)
88 Global Aviation Fuel Market Outlook, By Commercial Aviation (2021-2030) ($MN)
89 Global Aviation Fuel Market Outlook, By General Aviation (2021-2030) ($MN)
90 Global Aviation Fuel Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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