Sustainable Aviation Fuel Market is expected to reach USD 3,581.0 million by 2030

Sustainable Aviation Fuel Market Overview

New technical advances in fuel production are expected to boost the growth of the global sustainable aviation fuel market during the projected period.
New feedstock materials and technological advancements are projected to drastically reduce production costs, making sustainable fuel an appealing alternative to conventional jet fuel for airlines.

Emerging nations are forming agreements with international corporations to increase and adopt sustainable aviation fuel. For example, Indian Oil, India's state-owned oil and gas producer, struck a deal with LanzaJet, a US-based startup, in April 2023 to create sustainable aviation fuel at the company's refinery in Panipat, Haryana, India.

Market Dynamics

Increasing Drive for Decarbonization of Transportation

With growing awareness of the negative consequences of man-made climate change and global warming, efforts are being made to decarbonize transportation. Although the decarbonization of road transportation is well underway, with the increasing use of electric vehicles (EVs), the decarbonization of aircraft poses a significant barrier.

Although electric aircraft are still years away from commercialization, the use of sustainable aviation fuel is a widely accessible strategy that may be used to decrease emissions since it needs very little change to the current infrastructure. According to data from the United States Department of Energy (DoE), completely transitioning to sustainable fuel may help reduce emissions by up to 94%. During the predicted period, the growing push for decarbonization will increase demand for sustainable aviation fuel.

Market Segmentation

The global Sustainable Aviation Fuel Market is segmented based on type, aircraft type, and platform.

By Type

• Biofuel
• Hydrogen fuel
• Power-to-liquid fuel
• Gas-to-liquid fuel

By Aircraft Type

• Fixed Wing
• Rotary Wing

By Platform

• Commercial Aviation
• Military Aviation
• Business Aviation
• Unmanned Aerial Vehicles (UAVs)

Geographical Share

North America is predicted to account for about half of the global market and to increase at a CAGR of almost 38.2% during the forecast period. With about 853 million passengers transported and almost 5,800 commercial aircraft in operation in 2022, the United States has the world's biggest aviation market. The huge scale of the US market provides excellent prospects for the use of sustainable aviation fuel.

United Airlines, located in the United States, was the largest user of sustainable aviation fuel, according to statistics from the industry publication Airline Weekly, with a target of a 100% reduction in greenhouse gas emissions by 2050. United Airlines has agreed to acquire sustainable aviation fuel from Nestle beginning in May 2022.

Industry Recent News

• In July 2023, Willis Lease Finance Corporation, a U.S.-based aircraft leaser, announced plans to develop power-to-liquid sustainable aviation fuel at its upcoming refinery in northeastern England.
• In July 2023, Australia's Renewable Energy Agency (ARENA) announced plans to invest USD 30 million to develop a domestic sustainable aviation fuel industry based on production from agricultural feedstocks.

Major Companies Covered

The prominent companies in the global sustainable aviation fuel market growth include Neste, Fulcrum BioEnergy, LanzaTech, TotalEnergies, Gevo, SG Preston, Velocys plc, Northwest Advanced Bio-Fuels, LLC, Red Rock Biofuels and Prometheus Fuels.

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