Aviation Fuel Market To Cross US$ 404.5 Billion By 2028

How Big is the Aviation Fuel Market ? :

IMARC Group's latest research report, titled "Aviation Fuel Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," the global aviation fuel market size reached US$ 305.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 404.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.4% during 2023-2028.

What is Aviation Fuel and Uses ? :

Aviation fuel is a highly refined petroleum-based fuel designed to provide high energy output with minimal emissions. It is manufactured from a variety of hydrocarbon compounds, including straight-chain and branched-chain, cycloalkanes, and aromatic hydrocarbons. The fuel has a higher energy content and energy density, making it suitable for powering aircraft to travel at high speeds over long distances. It is treated with additives, including antioxidants, antistatic agents, and corrosion inhibitors, to improve its performance and safety. It offers several benefits, including stability, lubrication, fluidity, volatility, non-corrosiveness, and cleanliness, and minimizes the risk of explosion. It is stored and transported using specialized equipment to ensure its safe use in aircraft to prevent leaks and minimize the risk of fire.

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Who are the key Players Operating in the Industry ? :

• Abu Dhabi National Oil Company
• Bharat Petroleum Corp. Ltd
• BP plc, Chevron Corporation,
• China Aviation Oil (Singapore) Corporation Ltd
• Exxon Mobil Corporation
• Indian Oil Corporation Ltd.
• Neste Oyj
• Oman Oil Marketing Company SAOG
• Petróleo Brasileiro S.A. (Petrobras)
• Shell plc
• TotalEnergies SE
• Vitol

What are the Growth Prospects and Trends in the Aviation Fuel Industry ? :

The increasing rate of air travel is driving the global market. Moreover, the growing usage in transporting ambulatory patients during aeromedical evacuations is strengthening the growth of the market. Besides, the development of more fuel-efficient aircraft engines and the increasing use of renewable energy sources in aviation is creating a positive market outlook.

In line with this, several leading players are launching biofuels that are produced from biological materials, such as plants, algae, and waste biomass, to improve the sustainability of the industry, thus providing a boost to the market. Furthermore, the rising regulations by the governments to reduce carbon emissions and limit the impact of aviation on the environment are propelling the overall market.

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Key Market Segmentation:

Breakup by Fuel:

• Jet A
• Jet A1
• Jet B
• JP 5
• JP 8
• Avgas
• Biofuel

Breakup by Aircraft:

• Fixed Wings
• Rotorcraft
• Others

Breakup by End Use:

• Commercial
• Military
• Private
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

TOC for the Aviation Fuel Market Research Report:

• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Global Aviation Fuel Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape

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