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Aviation Fuel Market Analysis, Industry Overview, Emerging Trends, Growing Opportunities, Segmentation And High CAGR Growth By 2032 || British Petroleum (BP) P.L.C, Chevron Corporation, Exxon Mobil Corporation, PJSC Gazprom
Aviation Fuel Market
Aviation Fuel Market Size, Growth Rate, And Forecast
The global aviation fuel market size grew from $189.07 billion in 2022 to $217.19 billion in 2023 at a compound annual growth rate (CAGR) of 14.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aviation fuel market size is expected to grow to $399.87 billion in 2027 at a CAGR of 16.5%.
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Aviation Fuel Market Drivers
The rise in air transportation across the globe is driving the growth of the aviation fuel market. The rising population and increasing middle-class population's earnings have significantly increased the demand for air transportation in various developed and developing countries across the world. As air transportation increases, the need for aviation fuel also increases significantly as aviation fuel is a basic requirement for aircraft to fly. For instance, according to the Bureau of Transportation Statistics (BTS) data, U.S. airlines carried 119.47% more scheduled service passengers in October 2021 (65.6 million passengers) than in October 2020 (29.9 million passengers). Furthermore, according to the data released by the Ministry of Civil Aviation (MoCA) India, the airlines' capacity in India in the year 2021 was found 46% higher (72,000 departures) than in October 2020 (49,150 departures in October 2020). Therefore, the rising air transportation will drive the aviation fuel market.
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Aviation Fuel Market Segments
• By Fuel Type: Jet A, Jet A1, Jet B, JP 5, JP 8, Avgas, Biofuel
• By Grade: Jet fuel, Aviation Gasoline, Biokerosene
• By End Use: Commercial, Military, Private, Other End Uses
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the aviation fuel market.
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Aviation Fuel Market Key Players
Major competitors in the aviation fuel market are British Petroleum (BP) P.L.C, Chevron Corporation, Exxon Mobil Corporation, PJSC Gazprom, Indian Oil Corporation Limited, Petróleo Brasileiro SA, Royal Dutch Shell PLC., Total SA, Hindustan Petroleum Corp. Ltd., Honeywell International Inc.
The Business Research Company's "Global Aviation Fuel Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Aviation Fuel Market Include:
1. Executive Summary
2. Aviation Fuel Market Characteristics
3. Aviation Fuel Market Trends And Strategies
4. Aviation Fuel Market - Macro Economic Scenario
5. Aviation Fuel Market Size And Growth
………………
27. Aviation Fuel Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Aviation Fuel Market
29. Aviation Fuel Market Future Outlook and Potential Analysis
30. Appendix
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