Jet Fuel Market to Reach USD 320.16 Billion by 2030, Growing at a CAGR of 10.40%

Mordor Intelligence has published a new report on the "Jet Fuel Market" offering a comprehensive analysis of trends, growth drivers, and future projections

Introduction

According to Mordor Intelligence's latest research, the global jet fuel market is estimated to be valued at USD 195.21 billion in 2025 and is expected to reach USD 320.16 billion by 2030, growing at a compound annual growth rate (CAGR) of 10.40% during the forecast period. The growth of the market is primarily attributed to the increasing demand for air travel, technological advancements in aircraft, rising defense fuel consumption, and the growing adoption of sustainable aviation fuel (SAF).

Jet fuel, which primarily consists of kerosene-based compounds, is the lifeblood of the aviation sector, serving as a crucial energy source for commercial, military, and general aviation aircraft. With global air traffic on the rise and a transition toward cleaner fuels, the jet fuel market is poised for significant expansion in the coming years.

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Key Trends in the Jet Fuel Market

1. Growth in Global Air Traffic and Passenger Demand

The jet fuel market is witnessing strong growth due to the expansion of global air traffic. According to the International Air Transport Association (IATA), global passenger numbers are expected to double by 2040. Asia-Pacific, driven by rising middle-class income and increasing flight connectivity, is a key region fueling this expansion. With air travel demand continuing to recover from the pandemic, airlines are increasing their fleets, resulting in higher fuel consumption.

2. Shift Towards Sustainable Aviation Fuels (SAF)

The growing focus on sustainability is a key trend in the aviation sector. Sustainable Aviation Fuel (SAF), which reduces greenhouse gas emissions compared to traditional jet fuel, is receiving increasing attention. SAF production is supported by several government mandates and airline sustainability targets. Europe, through its ReFuelEU Aviation policy, and the United States, with tax incentives under the Inflation Reduction Act, are leading the way in SAF integration. Companies like ExxonMobil, Shell, and BP are investing in SAF technology, promising a cleaner future for the aviation industry.

3. Fluctuating Crude Oil Prices and Supply Chain Challenges

Jet fuel prices are directly influenced by fluctuations in crude oil prices, which can lead to volatility in fuel costs. Geopolitical events, such as conflicts in major oil-producing regions, have the potential to drive up crude oil prices, affecting the cost of jet fuel. Airlines often adopt fuel hedging strategies to mitigate price fluctuations. Supply chain disruptions, particularly in the aftermath of the pandemic, further exacerbate market volatility, making it critical for airlines and fuel suppliers to adapt their procurement strategies.

4. Technological Innovations in Aircraft Efficiency

As airlines continue to modernize their fleets, fuel-efficient aircraft models, such as the Boeing 737 MAX and Airbus A320neo, are reducing fuel consumption per seat. These technological advancements are contributing to a slight reduction in the overall jet fuel demand per aircraft, although the total demand for jet fuel remains robust due to the rising number of flights. Airlines are focused on reducing operating costs, and fuel-efficient aircraft are a key part of their strategy.

5. Military and Defense Aviation Fuel Consumption

Defense aviation is a significant driver of jet fuel demand. Military fleets require substantial amounts of jet fuel for training, operations, and strategic missions. Geopolitical tensions and ongoing military engagements in regions like the Middle East contribute to the steady demand for aviation fuel in the defense sector. As countries continue to invest in their defense infrastructure, military aviation fuel consumption is expected to grow steadily.

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Market Segmentation

The jet fuel market is segmented by fuel type, application, distribution channel, and geography:

By Fuel Type:

Jet A: The most common type of jet fuel used for commercial aviation.

Jet A-1: Primarily used for international flights due to its lower freezing point.

Jet B: A lighter, more volatile fuel used in colder climates and specific regions.

Others: Includes specialized aviation fuels used for certain aircraft types.

By Application:

Commercial Aviation: The largest segment, driven by passenger airlines and cargo flights.

Defense Aviation: Used by military aircraft for defense operations and training.

General Aviation: Includes private jets and chartered flights.

By Distribution Channel:

Into-Plane Supply: Jet fuel delivered directly to aircraft at the airport.

Bulk Supply to Fixed-Base Operators (FBOs): Fuel provided to smaller airports for general and private aviation use.

By Geography:

North America: The largest market, driven by high fuel demand from airlines and military fleets.

Asia-Pacific: The fastest-growing market, with rising air travel and expanding aviation infrastructure.

Europe: A significant market, especially with the EU's SAF mandates.

South America: Steady growth as air travel recovers in the region.

Middle East and Africa: A key hub for global air traffic and defense fuel consumption.

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Key Players

The jet fuel market features several prominent players in the oil and gas industry, providing fuel to both commercial and military aviation sectors. Leading companies include:

Shell PLC: Supplies both conventional jet fuel and sustainable aviation fuels, with strong distribution networks across key regions.

Exxon Mobil Corporation: A major player in global jet fuel supply, actively expanding its SAF production capabilities.

BP PLC: Invests heavily in sustainable fuel initiatives and partners with airlines to supply jet fuel.

Chevron Corporation: Provides jet fuel for commercial and military aviation and is investing in SAF technology.

TotalEnergies SE: A key supplier of aviation fuels, focusing on expanding SAF production and distribution.

These companies are at the forefront of addressing the growing demand for both traditional jet fuel and alternative fuels, ensuring they meet regulatory requirements and sustainability goals.

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Conclusion

The jet fuel market is poised for significant growth over the next decade, driven by a recovery in air travel, rising demand for military aviation fuel, and the growing push toward sustainable aviation fuels. While the traditional jet fuel market remains strong, the shift toward SAF is expected to be one of the defining trends in the industry. The demand for jet fuel will continue to be influenced by geopolitical events, technological advancements, and regional expansions. As global air traffic increases and the industry adapts to new sustainability goals, the market is on track to reach USD 320.16 billion by 2030.

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