|05-15-2018 02:08 PM CET - Business, Economy, Finances, Banking & Insurance||
Aviation Alternative Fuel Market 2018 by Fuel type, Process, Application (Commercial, Military), and by Region - Forecast Till 2023
Press release from: Market Research Future
The global market for aviation alternative fuel is increasing at a rapid pace. According to a recent study report published by the Market Research Future, The global market of aviation test equipment will grow at a rapid pace over the forecast period. The market is forecasted to witness a slow but steady growth by 2024, which will be a surplus growth at a moderate CAGR during the projected period (2018 -2024).
Increasing concerns about environmental protection, climate changes, and global warming is driving the aviation alternative fuels market. Number of companies, organizations, and governments are investing in research & development, and commercialization of alternative fuels for aviation. New technologies have significantly reduced the cost of manufacturing these fuels, resulting in economical substitutes for fossil fuels. Moreover, rapid growth in the aviation industry is likely to boost the demand for aviation alternative fuels during the forecast period.
Increase in demand for pilot training and reconnaissance aircrafts in military applications are some of the key factors that are driving the growth of aviation fuel market in next few years. Rise in efficiency of the jet engines due to new innovations, usage of stimulators for training and reduced economic prospects of the developed regions are some of the factors hindering the growth of the aviation fuels market.
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Major Key Players
Renewable Energy Group,
Aquaflow Bionomic Corporation.
In fuel type segmentation, the aviation alternative fuel market can be divided into biofuels, CNG, LNG, and others. Further biofuels can be bifurcated into Hydrogenated Easters & Fatty Acids (HEFA), Hydrogenated Pyrolysis Oil (HPO), Fischer-Tropsch (FT) based on biomass, and renewable Synthesized Iso-paraffin fuels (SIP), etc. Among these, the biofuels sub-segment is anticipated to expand significantly, as it is in a rapid development stage. Biofuels are primarily made from vegetable oils such as camellia and jatropha, sugar crops, cereals, and algae. Thus, at present, the inventory is available in abundance.
At present, regions such as North America and Europe are the key markets for aviation alternative fuels. Execution of strict government regulations, robust technological developments, increase in awareness regarding environmental protection, and finances investments are some of the factors pushing the growth of alternative fuels for aviation in these region. Asia Pacific is also estimated to be a significant market for aviation alternative fuels, China, India, are expected to witness substantial increase in number of passengers traveling by air transport per annum during the forecast period. The market in Latin America, especially in Brazil, is also expected to expand considerably in the near future.
Industry/ Innovation/ Related News:
April 2018: Global Bioenergies and SkyNRG announced their collaboration on ASTM-certification of a bio-isobutene feedstock and alteration process for the production of sustainable aviation fuel.
April 2018: The city of St. Louis & St. Louis Lambert International Airport (STL) promoted Fleet of Alternative Fuel Automobiles.
December, 2017: GE Aviation Tested 100% Gevo renewable alcohol-to-jet fuel (ATJ) Fuel.
Global Aviation Alternative Fuel Market – Segmentation
The global aviation alternative fuel market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Fuel type: Biofuels (HEFA, HPO, FT, and SIP), CNG, LPG, & Others.
Segmentation by Process: Coal liquefaction & Gas liquefaction
Segmentation by Application: Commercial & Military
Segmentation by Regions: North America, Europe, Asia Pacific, Middle East & Africa and South America.
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• Aviation Authorities
• Alternative Fuel manufacturers
• Government as well as Independent Regulatory Authorities
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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This release was published on openPR.
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