Press release
Aviation Fuel Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Aviation Fuel Market
The growing popularity of air travel worldwide propels the expansion of the aviation fuel sector. Increased earnings among the middle class and a booming global population have significantly heightened the use of air transportation in many advanced and developing nations around the globe. As this mode of transport grows in demand, there is an associated sharp rise in the need for aviation fuel, an essential element for aircraft operation. Notably, reports from the International Air Transport Association (IATA), a trade association based in Canada, show a 36.9% rise in 23 (assessed in revenue passenger kilometers or RPKs) compared to 22. Global traffic for the entire year of 23 was at 94.1% of the level prior to the pandemic. Traffic in December 23 rose by 25.3% compared to the same month in the previous year. Hence, the surge in air travel is a key contributor to the expansive growth of the aviation fuel market.
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What is the future CAGR of the aviation fuel market, and how will it impact industry expansion?
In recent years, there has been a dramatic expansion in the size of the aviation fuel market. It is projected to increase from $231.54 billion in 24 to $264.83 billion in 25, reflecting a compound annual growth rate (CAGR) of 14.4%. Factors contributing to this growth in the past include demand for air travel, economic circumstances, and fuel prices.
Anticipations are high for a swift expansion in the aviation fuel market size in the approaching years. The market value is predicted to reach $444.04 billion in 29, marking a Compound Annual Growth Rate (CAGR) of 13.8%. The expected growth during the predictive span is linked to factors such as global economic development, fleet upgrade, geopolitical influences, and recovery from the pandemic. Noteworthy trends projected to be observed within the forecasted timeline include advancements in technology, the use of renewable aviation fuels, replacement fuels, and investment in infrastructure.
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What are the most significant trends transforming the aviation fuel market today?
Leading firms in the aviation fuel market are pioneering advanced solutions like fuel processing technologies to improve service to their customers with superior features. The term "fuel processing technology" refers to the practices and systems that transform raw fuels into more refined, efficient versions that emit fewer emissions for various uses, including energy production and transportation. For example, in October 22, Honeywell, an American technology firm, introduced its ethanol-to-jet (ETJ) fuel processing technology. This innovation allows manufacturers to convert corn, cellulosic, or sugar-derived ethanol into sustainable aviation fuel (SAF). Depending on the type of ethanol feedstock used, Honeywell's ETJ process can decrease greenhouse gas (GHG) emissions by up to 80% throughout the fuel's entire lifecycle, compared to conventional petroleum-based jet fuel.
Which key market segments comprise the aviation fuel market and drive its revenue growth?
The aviation fuel market covered in this report is segmented -
1) By Fuel Type: Jet A, Jet A1, Jet B, JP 5, JP 8, Avgas, Biofuel
2) By Grade: Jet fuel, Aviation Gasoline, Biokerosene
3) By End Use: Commercial, Military, Private, Other End Uses
Subsegments:
1) By Jet A: Standard Jet A, Jet A With Additives
2) By Jet A1: Standard Jet A1, Jet A1 With Additives
3) By Jet B: Standard Jet B, Jet B With Additives
4) By JP 5: Standard JP 5, JP 5 with Additives
5) By JP 8: Standard JP 8, JP 8 With Additives
6) By Avgas: Avgas 100LL, Avgas 100
7) By Biofuel: Sustainable Aviation Fuel (SAF), Bio-Derived Jet Fuel, Blended Biofuels
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What regions are at the forefront of aviation fuel market expansion?
North America was the largest region in the aviation fuel market in 24.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aviation fuel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the aviation fuel market?
Major companies operating in the aviation fuel market include BP plc, Chevron Corporation, Exxon Mobil Corporation, PJSC Gazprom, Indian Oil Corporation Limited, Royal Dutch Shell plc (Shell), TotalEnergies, Neste Oyj, World Fuel Service, Valero Energy Corporation, Marathon Petroleum Corporation, Air BP, ConocoPhillips, PetroChina, China Petroleum & Chemical Corporation (Sinopec), Hindustan Petroleum Corporation Limited, Bharat Petroleum Corporation Limited, Reliance Industries Limited, China National Aviation Fuel Group Corporation, Puma Energy, Vitol, Trafigura, Glencore, Mercuria Energy Group, Gunvor Group, Eastern Aviation Fuels, Aviation Fuel Management, Avfuel Corporation, EPIC Fuels, World Jet Inc.
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What Is Covered In The Aviation Fuel Global Market Report?
•Market Size Forecast: Examine the aviation fuel market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the aviation fuel market for a structured understanding.
•Key Players Overview: Analyze major players in the aviation fuel market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the aviation fuel market.
•Segment Contributions: Evaluate how different segments drive overall growth in the aviation fuel market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the aviation fuel market.
•Industry Challenges: Identify potential risks and obstacles affecting the aviation fuel market.
•Competitive Landscape: Review strategic developments in the aviation fuel market, including expansions, agreements, and new product launches.
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