Aviation Fuel Market to Reach USD 599.1 Billion by 2031, Growing at 13.9% CAGR | Commercial Aircraft Segment Leads as Passenger Traffic Expands | DataM Intelligence

Leander, Texas and TOKYO, Japan - Nov. 14 2025 "The Aviation Fuel Market was valued at US$ 211.5 billion in 2023 and is projected to reach US$ 599.1 million by 2031, growing at a CAGR of 13.9% during the forecast period 2024-2031."

The Aviation Fuel Market is driven by increasing air travel demand, expansion of commercial fleets, and growth in cargo transportation. Market growth is supported by rising adoption of sustainable aviation fuel (SAF), stricter emission regulations, and ongoing investments in airport infrastructure and aviation modernization.

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☛ Recent Industry Developments :
United States:
✅ November 2025: ExxonMobil launched a new SAF (Sustainable Aviation Fuel) blend with 60% lower lifecycle emissions, backed by an investment of 180 million in expanded refining and bio feedstock processing capacity. The launch supports major U.S. airlines preparing for 2030 decarbonization mandates.

✅ October 2025: Chevron Aviation completed the acquisition of a regional biofuel producer to strengthen its renewable jet fuel portfolio. The company allocated 120 million to expand supply agreements with airports in California and Texas for large scale SAF deployment.

✅ September 2025: World Fuel Services partnered with a leading U.S. biotechnology company to launch enzyme enhanced SAF production technology. The collaboration includes 75 million in joint R&D and pilot plant investment, targeting faster commercialization of next generation aviation fuels.

Japan:
✅ November 2025: Japan Airlines (JAL) and ENEOS Corporation jointly launched a new domestically produced SAF batch for commercial flights, supported by 45 million invested in ENEOS's biofuel upgrading units. This marks a major milestone in Japan's airline decarbonization roadmap.

✅ October 2025: Mitsubishi Heavy Industries (MHI) acquired a stake in a Japanese waste-to-fuel startup to accelerate domestic SAF production. The investment, totaling 58 million, aims to commercialize municipal solid waste derived aviation fuel by 2027.

✅ September 2025: ANA Holdings partnered with Tonen General (ENEOS Group) to launch a pilot project using high-blend SAF for medium haul aircraft. Supported by 33 million in government and private funding, the program is expanding SAF testing across key Japanese airports.

☛ Core Catalysts Behind Market Growth:
Increasing global air travel and rising passenger traffic are driving fuel consumption across commercial aviation, boosting the aviation fuel market.

Expansion of cargo and logistics operations, supported by e-commerce growth, is significantly increasing demand for aviation turbine fuel (ATF).

Growing investments in airport infrastructure and fleet expansion by airlines are further supporting market growth.

Rising focus on sustainable aviation fuel (SAF), backed by government incentives and airline decarbonization commitments, is accelerating market evolution toward cleaner fuel alternatives.

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☛ Market Segmentation:
By Fuel:
Conventional Fuel dominates with 82% share, driven by the continued reliance on Jet A and Jet A-1 fuels across commercial airlines, defense fleets, and cargo operators due to established supply chains and cost advantages.

Sustainable Aviation Fuel (SAF) accounts for 18%, supported by accelerating decarbonization initiatives, government mandates, airline net-zero commitments, and increasing investments in bio-based and synthetic fuel production.

By Aircraft:
Commercial Aircraft lead the market with 72% share, fueled by rising passenger traffic, fleet expansion, increasing long haul operations, and rapid recovery of international aviation.

Military Aircraft account for 19%, driven by consistent fuel consumption across defense operations, training missions, and surveillance activities worldwide.

Private Aircraft represent 9%, supported by growing business aviation, increasing deliveries of private jets, and rising use of blended SAF options by corporate operators.

☛ Competitive Landscape:
The Aviation Fuel Market is characterized by strong competition among global oil & gas majors, sustainable aviation fuel (SAF) innovators, and technology providers focused on emission-reduction pathways.

Shell Aviation maintained a leading position with an estimated 24% share in the global aviation fuel supply, expanding SAF production partnerships across Europe and Asia while reporting 11% YoY growth in 2024-2025.

Exxon Mobil Corporation captured around 20% market share, driven by large scale refining capacity and long-term fuel supply contracts with major commercial airlines and airports worldwide.

BP plc held approximately 18% share, strengthening its presence through its bp Air division and accelerating investments in SAF manufacturing under its net-zero strategy.

Neste dominated the SAF segment with nearly 45% share of global SAF production, achieving 22% growth by expanding bio refinery operations and strategic collaborations with international airlines.

Chevron Corporation secured close to 14% market share, focusing on advanced refinery upgrades and sustainable aviation initiatives to meet rising demand for low carbon fuel solutions.

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☛ Regional Analysis:
North America:
North America leads the market with 34%, driven by high air traffic volumes, strong presence of major commercial airlines, and significant jet fuel consumption in the U.S. Large cargo operations and rising demand for sustainable aviation fuel (SAF) further strengthen the region's dominance.

Europe:
Europe holds 28%, supported by extensive aviation networks, strong SAF adoption, and high passenger traffic across major hubs such as Germany, the U.K., France, and the Netherlands. Strict emission regulations accelerate the transition toward cleaner aviation fuels.

Asia Pacific:
Asia Pacific accounts for 29%, fueled by rapidly expanding airport infrastructure, rising passenger traffic in China, India, Japan, and Southeast Asia, and significant growth in low cost carriers. Economic expansion enhances aviation fuel consumption across the region.

South America:
South America holds 4%, with growth driven by aviation recovery in Brazil, Chile, and Colombia. Demand remains moderate due to economic fluctuations and limited long haul operations.

Middle East
The Middle East accounts for 3%, supported by major global airline hubs in the UAE, Qatar, and Saudi Arabia. Expanding international flight routes contribute to steady aviation fuel demand.

Africa
Africa holds 2%, with demand concentrated in South Africa, Kenya, and Nigeria. Limited aviation infrastructure restricts large scale growth, though regional air travel continues to gradually rise.

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