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Market Size – USD 79.5 Million in 2020, Market Growth – at a CAGR of 71.0%, Market Trends – Increasing air traffic

VANCOUVER, BC, CANADA, April 19, 2022 /EINPresswire.com/ -- The Global Sustainable Aviation Fuel Market size is expected to reach USD 6,188.2 Million at a revenue CAGR of 71.0% in 2028, according to latest analysis by Emergen Research. Steady global sustainable aviation fuel market revenue growth is supported by rising emphasis on curbing Greenhouse Gas (GHG) emissions, among others. Sustainable aviation fuel delivers a cleaner substitute to fossil fuel, attaining about 80% decrease in GHG emissions throughput the life cycle of the fuel as compared to fossil-based jet fuel, and thus enables the aviation sector to reduce its carbon footprint. Carbon dioxide generated by plants during biomass production is almost equivalent to that generated during sustainable aviation fuel combustion, thereby making it carbon neutral. Also, this type of fuel comprises fewer impurities/contaminants (like sulfur), allowing for a further decrease in sulfur dioxide and emissions of other particulate matter.

Stringent government regulations for curbing greenhouse gas emissions is a significant factor driving global sustainable aviation fuel market revenue growth

Dependence of aerospace industry on fossil fuels results in it being impacted by various fluctuations, including varying crude oil prices and issues associated with supply and demand. Sustainable aviation fuel is considered an appropriate option as its manufacture is not restricted to sites where exploring and drilling of fossil fuels is carried out, thereby allowing a very diverse geographic supply and better degree of energy security for aviation sector.

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Our team of experts has performed a detailed analysis of the most vital elements of the drone delivery service market, including key drivers, constraints, opportunities, limitations, threats, and micro- and macro-economic factors likely to influence its growth over the forecast duration.

Top Key Companies are  :

Amyris Inc.

Aemetis Inc.

Neste

SkyNRG BV

LanzaTech Inc.

Cummins Inc.

Gevo Inc.

Avfuel Corporation

Sasol Limited

and Velocys.

Some Key Highlights from the Report

In July 2021, Rolls-Royce signed a definitive long-tern partnership agreement with Shell for advancing the use of sustainable aviation fuel in aircraft engines and support decarbonization efforts of aviation industry. As per the agreement, the two firms will increase cooperation, such as new SAFinity service by Rolls-Royce for the business aerospace industry, with Shell being the exclusive supplier of sustainable aviation fuel.

Among the product type segments, hydrogen fuel segment revenue is expected to expand at a rapid rate over the forecast period. Aircraft powered by hydrogen fuel emits zero carbon dioxide, and based of deployed technology, can considerably reduce or eliminate air contaminants/pollutants, including nitrogen oxide, along with preventing formation of contrail. Such aircraft exhibit a 30% to 50% decrease in impacts due to formation of cirrus and contrail, as compared to traditional jet fuel.

Among the production method segments, the Fischer-Tropsch Synthetic Paraffinic Kerosene (FT-SPK) segment contributed a significantly large revenue share to the global market in 2020. In Fischer-Tropsch Synthetic Paraffinic Kerosene process, biomass is transformed to synthetic gas and later into bio-based fuel for use in aircraft. Maximum blending ratio of fuel produced through this pathway is 50%. Also, FT-SPK/A, which is a variation of FT-SPK, deploys alkylation of light aromatics to produce a hydrocarbon blend, along with other aromatic compounds.

Among the application segments, the military segment accounted for a significantly robust revenue share in 2020. Increase in defense budget and various government initiatives for use of sustainable aviation fuel is driving revenue growth of this segment. For instance, the Sustainable Aviation Fuel Act offers a substantial boost to demand for sustainable aviation fuel by necessitating that from 2024, a minimum of 10% of the aircraft fuel bought by the military should be sustainable fuel produced in the US. Also, a significant amount of aviation fuel is consumed by defense aircraft and according to estimates, about 5 billion gallons of jet fuel is used by US military annually.

Covid impact analysis:

The latest report is the first study encompassing the current Sustainable Aviation Fuel Market situation with respect to the COVID-19 outbreak. Since the advent of the outbreak, the global economic landscape has been grappling with adverse financial consequences. The report analyzes the drastic impact of the pandemic on this business sphere. The pandemic has affected nearly all segments of the Sustainable Aviation Fuel Market . It has further hampered the developmental scope of various manufacturers and buyers engaged in this sector. Thus, the report studies the industry’s shifting dynamics to scrutinize the profits earned or loss suffered by different segment

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the global sustainable aviation fuel market on the basis of product type, production method, application, and region:

Product Type Outlook (Revenue, USD Million; 2018–2028)

Biofuel

Hydrogen Fuel

Others

Production Method Outlook (Revenue, USD Million; 2018–2028)

Fischer-Tropsch Synthetic Paraffinic Kerosene (FT-SPK)

Hydroprocessed Esters and Fatty Acids (HEFA-SPK)

Hydroprocessed Fermented Sugars to Synthetic Isoparaffins (HFS-SIP)

Alcohol-to-Jet Synthetic Paraffinic Kerosene (ATJ-SPK) [ethanol]

Alcohol-to-Jet Synthetic Paraffinic Kerosene (ATJ-SPK) [isobutanol]

Catalytic Hydrothermolysis Synthetic Jet Fuel (CHJ)

Application Outlook (Revenue, USD Million; 2018–2028)

Military Aviation

Commercial Aviation

Unmanned Aerial Vehicle

General & Business Aviation

Regional Overview:

The global Sustainable Aviation Fuel Market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Sustainable Aviation Fuel Market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.

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Global Sustainable Aviation Fuel Market Report - Table of contents:

Chapter 1 includes the global Sustainable Aviation Fuel Market introduction, followed by an overview of the market scope, product offerings, growth opportunities, market risks, driving forces, and others.

Chapter 2 offers an exhaustive study of the key manufacturers of the Sustainable Aviation Fuel Market , along with their anticipated sales and revenue shares.

Chapter 3 elaborates on the competitive outlook of the Sustainable Aviation Fuel Market , focusing on the major manufacturers and vendor landscape.

Chapter 4 entails a broad market segmentation based on region and determines the sales, revenue, and market shares of each region over the estimated period.

Chapters 5, 6, 7, 8, and 9 continue with market segmentation based on product type, application range, and market players.

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