Press release
Military Jet Fuel Market Key Players, Industry Demand, Overview And Supply Chain Analysis, Forecast To 2026
The Military Jet Fuel Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Military Jet Fuel market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Military Jet Fuel market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Military Jet Fuel market.“The global military jet fuel market is expected to grow at a CAGR of over 3% during the forecast period.”
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Top Leading Companies of Military Jet Fuel Market are Royal Dutch Shell PLC, BP PLC, Honeywell International Inc., Repsol SA, GS Caltex Corporation, Chevron Corporation and others.
Key Market Trends:
Renewable Aviation Fuel to be the Fastest Growing Market
- Defines expenditure is expected to grow between 3-4% in 2020 to reach an estimated USD 1.9 trillion, as governments around the world continue to modernize and recapitalize their militaries. Subsequently, the defense aviation sector is also expected to increase and pave the way for adding new aircraft in the defense sector.
- The defense sector consumes a large amount of aviation fuel. For instance, on average, the United States military burns about 4.8 billion gallons of jet fuel and diesel each year. Nearly half of that goes to the Air Force and around one-third to the Navy.
- In Asia-Pacific, higher defense spending by major regional powers such as India, China, and Japan will likely contribute to the increase in defense aircraft and the total flying time. Therefore, with an increase in aircraft, and stringent carbon emission rules in the hindsight, the demand for renewable aviation fuel is expected to increase in upcoming years.
- Moreover, in May 2019, the Russian made AN-32 transport aircraft of the Indian Air Force was certified to fly on blended aviation fuel containing 10% bio-jet fuel. The indigenous bio-jet fuel was first produced by the Indian Institute of Petroleum, Dehradun, in 2013, but it could not be tested or certified for commercial use on aircraft due to the lack of test facilities in the civil aviation sector.
- Hence, such increasing development in the aviation fuel sector and the need to cut carbon emissions are expected to drive the renewable aviation fuel market in the defense sector during the forecast period.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Military Jet Fuel Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Military Jet Fuel Market (%),2016 - 2026
- Military Jet Fuel Market Share, By Brand
- Military Jet Fuel Market Share, By Company
- Military Jet Fuel Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Military Jet Fuel Market Value Analysis & Forecast
- Promising Military Jet Fuel Development by Major Companies
- Detailed Military Jet Fuel Portfolio of the Major Companies
- Major Deals in the Military Jet Fuel Market
- Major Companies Analysis
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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