Surge in demand for aviation fuel from military sector and rise in air transportation across the globe drive the growth of the global aviation fuel market.

PORTLAND, OREGON, UNITED STATES, September 19, 2022 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global aviation fuel market generated $179.2 billion in 2018, and is estimated to reach $238.5 billion by 2026, registering a CAGR of 3.5% from 2019 to 2026. The report offers an extensive analysis of changing market trends, top winning strategies, business performance, Porter’s Five Forces, and competitive landscape.

Surge in demand for aviation fuel from the military sector and rise in air transportation across the globe drive the global aviation fuel market. However, fluctuations in the prices of crude oil restrain the market growth. On the other hand, adoption of biofuels for aviation to reduce the pollution is expected to create new opportunities in the coming years.

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The demand from military sector for efficient and low cost military grade fuel has increased as all the nations are increasing their military strength. Owing to increased disposable income and boom in tourism industry, rise in air transportation has been experienced through air travel mode, which further drives the market growth. Moreover, introduction of new flight routes and investments from government in the field for construction of new airports also boosts the aviation fuel market growth. However, fluctuations in crude oil prices and rise in concerns over high level of carbon emissions leading to strict rules and regulations hampers the market growth. Meanwhile emerging sustainable aviation fuel (SAF) that is produced from typical feedstocks such as cooking oil and other non-palm waste oils from animals or plants, solid waste from homes and businesses, such as packaging, paper, textiles, and food scraps offer lucrative opportunities for the growth of the aviation fuel industry.

The report offers a detailed segmentation of the global aviation fuel market based on fuel type, aircraft type, end user, and region.

Based on fuel type, the Jet A1 segment contributed to the largest share in 2018, accounting for around one-third of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, the same segment is expected to register the highest CAGR of 3.8% from 2019 to 2026. The research also analyzes segments including Jet A, Jet B, JP 5, JP 8, avgas, and biofuels.

Based on aircraft type, the fixed wing segment accounted for the largest share in 2018, holding more than three-fourths of the total share, and is expected to maintain the largest share throughout the forecast period. Moreover, the same segment is estimated to portray the highest CAGR of 3.6% during the forecast period. The report also analyzes segments such as rotorcraft and others.

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Based on region, North America contributed the highest share, accounting for nearly two-fifths of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 4.3% from 2019 to 2026.

Leading market players analyzed in the research include Petrobras, Royal Dutch Shell plc, Sinopec Group, Total SA, Oman Oil Company SAOC., Bp p.l.c., Chevron Corporation, Exxon Mobil Corporation, Gazprom, and Indian Oil Corporation Limited.

Key findings of the study:
• Global aviation fuel market size is provided in terms of revenue
• India is projected to grow at the highest CAGR of approximately 4.6%, in terms of revenue, during the forecast period
• By end-user, the civil segment is anticipated to grow with CAGR 3.6%, in terms of revenue, during the forecast period
• India and U.S. dominated aviation fuel market share with a revenue of over 4.6% and 4.1% in 2018
• A comprehensive analysis of the factors that drive and restrain the aviation fuel market growth is provided
• The qualitative data in this report aims at the aviation fuel market trends, dynamics, and developments in the aviation fuel industry
• The aviation fuel market forecast and estimations are based on factors impacting the market growth

David Correa
Allied Analytics LLP
+1 800-792-5285
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