Aviation Fuel Market is expected to reach US$ 599.1 million by 2031 | Atmosfair, Shell Aviation, Johnson Matthey, Neste, Gevo Inc

Aviation Fuel Market reached US$ 211.5 billion in 2023 and is expected to reach US$ 599.1 million by 2031, growing with a CAGR of 13.9% during the forecast period 2024-2031.

The Aviation Fuel Market report by DataM Intelligence provides comprehensive insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. By combining qualitative and quantitative research methodologies, the firm delivers in-depth reports that help clients navigate complex market dynamics, drive strategic growth, and seize new opportunities in an ever-evolving global landscape.

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Aviation Fuel Market Overview :

The global aviation fuel market is witnessing strong growth, driven by increasing air travel and continuous advancements in aircraft efficiency. According to the International Energy Agency, between 2010 and 2019, fuel efficiency per revenue ton-kilometer improved at an average annual rate of 1.8%, thanks to technological progress in aircraft design and engine performance.

North America, particularly the United States, saw notable expansion in the aviation fuel sector in 2022. To promote sustainable aviation fuel (SAF) production, the U.S. government introduced substantial initiatives through the Inflation Reduction Act. These include tax incentives and a competitive grant program, with a total investment of US$ 3.3 billion aimed at reaching a production target of 3 billion gallons of SAF by 2031.

Collaborative efforts are also underway involving the U.S. Department of Transportation, the Federal Aviation Administration (FAA), Boeing, and APEC economies to enhance SAF development and accessibility for regional carriers. In line with these efforts, Lummus Technology unveiled its commercial ethanol-to-SAF process on September 7, 2023-offering a scalable pathway to lower aviation-related greenhouse gas emissions.

Evolving Market Forces and Opportunities:

Growing Aviation Activity Driving Demand for Aviation Fuel

The global aviation sector is experiencing a notable rebound, driven by post-pandemic recovery and continued expansion of aviation infrastructure. This resurgence is a major factor contributing to the rising demand for aviation fuel. Increased disposable incomes and the growth of the middle-class population, particularly in emerging economies, are leading to greater airline travel, fueling market momentum.

The International Energy Agency (IEA) projects that with global GDP expected to grow at an average rate of 3% annually through 2035, air traffic could increase by about 6% per year during the same period. This anticipated surge in flight activity directly correlates with a substantial rise in aviation fuel consumption.

Additionally, the proliferation of low-cost carriers-especially in regions like Europe has made air travel more accessible. These airlines have captured a significant share of global traffic by offering affordable fares on high-demand routes. Their growth has pressured legacy carriers to reduce ticket prices, further boosting passenger volumes and aviation fuel usage.

List of the Key Players in the Aviation Fuel Market: Atmosfair, Shell Aviation, World Energy, Neste, Gevo Inc, Honeywell International, Johnson Matthey, Exxon Mobil Corporation, Chevron Corporation, BP plc.

Aviation Fuel Market - Recent Developments

In May 2023, Honeywell International Inc. unveiled a groundbreaking technology that enables the production of lower-carbon aviation fuel. The innovative process involves utilizing green hydrogen and carbon to create the fuel, marking a significant step towards reducing carbon emissions in the aviation industry.

In July 2023, Gevo, Inc. (based in Inglewood, Colorado) and McDermott International Inc. (headquartered in Houston) announced a collaboration through a master services agreement (MSA). Under this agreement, McDermott will be responsible for providing front-end engineering and early planning services to support Gevo's initiative in developing multiple sustainable aviation fuel facilities in North America.

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Research Methodology:

Both primary and secondary data sources have been used in the global Aviation Fuel Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Segment Covered in the Aviation Fuel Market:

By Fuel (Conventional Fuel, Sustainable Fuel)

By Aircraft (Commercial Aircraft, Private Aircraft, Military Aircraft)

By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa)

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Regional Analysis for Aviation Fuel Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Most Frequently Asked Questions in the Aviation Fuel Market Research Industry:

➠ What are the global figures for sales, production, consumption, imports, and exports in the Aviation Fuel market?

➠ Who are the top manufacturers in the global Aviation Fuel industry, and what is their current status in terms of production capacity, output, sales performance, pricing structure, cost analysis, profit margins, and overall revenue?

➠ What key opportunities are available for vendors in the Aviation Fuel market, and what challenges are they likely to encounter?

➠ Which application areas, end-user segments, or product types are projected to experience significant growth, and how is the market share distributed among them?

➠ What are the major drivers and barriers influencing the growth trajectory of the Aviation Fuel market?

➠ What are the primary sales, marketing, and distribution strategies used across the global Aviation Fuel industry landscape?

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