The Reports and Insights, a leading market research company, has recently releases report titled “Aviation Fuel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Aviation Fuel Market Trends, size, share, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Aviation Fuel Market?
The aviation fuel market size reached US$ 284.1 Billion in 2023. The market to reach US$ 826.6 Billion by 2032, exhibiting a growth rate (CAGR) of 12.6% during 2024-2032.
What are Aviation Fuel?
Aviation fuel is a petroleum-based fuel used to power aircraft engines and to meet strict safety and performance standards to ensure the reliable and efficient operation of aircraft engines. The most common type of aviation fuel is aviation gasoline which is used in piston engine aircraft. It comes in various grades such as 100LL (low lead) and 100 (without lead) of blue color for easy identification. The properties of aviation fuel are controlled to minimize engine wear, ensure proper combustion, and reduce the risk of fuel-related issues. Moreover, these are formulated to have high flash points and low freezing points, which are vital for safe operation in the extreme temperature conditions encountered at high altitudes. Some other properties are stability, volatility, lubricity, non-corrosiveness, and others.
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What are the growth prospects and trends in the Aviation Fuel industry?
The Aviation Fuel market growth is driven by the global increase in air travel demand that directly translates to an increased need for aviation fuel, as the middle class expands and economies grow, more people can afford air travel. Further, advancements in aircraft technology such as the development of more fuel-efficient engines where airlines are gradually investing in modern and fuel-efficient aircraft to reduce operational costs and environmental impact. Moreover, a rising awareness of climate change and environmental regulations to reduce the carbon footprint, leading to research and development in aviation fuels that played a role in the market growth. Overall, the aviation fuel market growth is fueled by the growth in air travel demand, advancements in technology, environmental considerations.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Product Type:
- Jet Fuel (Jet A-1, Jet A)
- Avgas (Aviation Gasoline)
By Technology:
- Conventional Fuels
- Sustainable Aviation Fuels (SAFs)
By End-Use:
- Commercial Aviation
- General Aviation
- Military Aviation
By Distribution Channel:
- Airport-based Fueling
- Third-party Fueling
Segmentation By Region:
North America:
- United States
- Canada
Asia Pacific:
- China
- India
- Japan
- South Korea
- Australia & New Zealand
- Association of Southeast Asian Nations (ASEAN)
- Rest of Asia Pacific
Europe:
- Germany
- The U.K.
- France
- Spain
- Italy
- Russia
- Poland
- BENELUX (Belgium, the Netherlands, Luxembourg)
- NORDIC (Norway, Sweden, Finland, Denmark)
- Rest of Europe
Latin America:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
The Middle East & Africa:
- Saudi Arabia
- United Arab Emirates
- South Africa
- Egypt
- Israel
- Rest of MEA (Middle East & Africa)
Who are the key players operating in the industry?
The report covers the major market players including:
- ExxonMobil Corporation
- Royal Dutch Shell plc
- BP plc
- Chevron Corporation
- TotalEnergies SE
- Phillips 66
- Valero Energy Corporation
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