Aviation Fuel Market Size By Grade (Jet Fuel, Aviation Gasoline, Biokerosene), By End-use Sector (Commercial Aircraft [Narrow Body Aircraft, Widebody Aircraft], Regional Jet, Business Jet, Helicopter, Military), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026

Published Date: Nov 2019  |  Report ID: GMI4455  |  Authors: Kiran Pulidindi, Soumalya Chakraborty

Report Format: PDF   |   Pages: 160   |   Base Year: 2018

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Aviation Fuel Market size surpassed USD 160 billion in 2018 and is poised to grow at over 7.5% CAGR between 2019 and 2026. The market growth is driven by technological advancements and investments for optimizing the fuel formulation techniques to minimize the impact on environment.

The aviation fuel industry participants are collaboratively working on various fuel grades and variants for making it suitable to be used with a wide range of aircrafts. Moreover, several companies are also closely working with regulatory bodies to commercialize certain grades of fuel with an aim of improving efficiency and reduce pollution.

Aviation Fuel Market

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Volatility of crude oil prices coupled with advent of hybrid, electric, and more electric aircrafts may hamper the aviation fuel market demand. Moreover, complexities associated with crude oil refining and extraction and geopolitical issues may further contribute towards increasing prices and affecting the market value. However, industry participants are continuously investing in green and bio-based fuel solutions, that are expected to normalize the impacts and prove to be a reliable alternative for the traditional fossil-based fuel.

Aviation Fuel Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 160.88 Billion (USD)
Historical Data for: 2016 to 2018 Forecast Period: 2019 to 2026
Forecast Period 2019 to 2026 CAGR: 4.7% 2026 Value Projection: 327.62 Billion (USD)
Pages: 160 Tables, Charts & Figures: 241
Geographies covered (28): U.S., Canada, Germany, France, UK, Italy, Russia, Spain, Netherlands, Switzerland, China, Japan, Australia, Indonesia, India, South Korea, Thailand, Hong Kong, Singapore, Brazil, Mexico, Argentina, Chile, Colombia, Saudi Arabia, United Arab Emirates, Turkey, South Africa
Segments covered: Grade, End-user, and Region
Companies covered (15): Total, ExxonMobil, Chevron, British Petroleum (BP), Shell, Gazprom, Vitol, World Fuel Services, Mercury Air Group, China Aviation Oil, Reliance Petroleum, Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited (BPCL), HPCL, Virent, Inc.
Growth Drivers:
  • Proliferating demand for air travel owing to low cost carriers
  • Increasing production and deliveries of aircrafts
  • Construction and expansion of airports
  • Booming trade activities and proliferating e-commerce industry
  • Expanding middle class population and proliferating tourism industry
  • Supporting regulatory norms and rising demand for green and sustainable fuel
Pitfalls & Challenges:
  • Volatile crude oil pricing and geopolitical issues
  • Rising preference for hybrid and electric aircrafts
  • Capacity constraints and congestion related issues

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Commercial aircrafts are leading the way

Commercial aircrafts dominate over its counterparts, however regional aircrafts showcase promising growth

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Commercial aircrafts will dominate the aviation fuel market share throughout the forecast period. This can be attributed to rising air passenger travel globally. Moreover, the proliferation of low-cost carriers along with improving living standards and growing tourism industry are providing a positive outlook for the industry expansion. Airliners are focussing on expanding their network of routes for catering to a wide geographical area and attract passengers.

The regional jet is estimated to witness significant gains till 2026 impelled by proliferating demand for short distance travels globally. These jets are ideal for providing travel services for limited set of passengers efficiently. Additionally, few airlines across the globe are focussing on improving flying experience through these jets by offering personalized services, thereby enhancing the overall passenger comfort and appeal.

Focus towards reducing greenhouse gas emissions driving the biokerosene popularity in the aviation fuel market

Biokerosene grade segment is set to exhibit highest growth through 2026 due to rising preference of governments globally to reduce their reliance on conventional petroleum-based fuels. These fuels contribute significantly towards reducing environmental pollution and improving efficiency. Industry players from across the globe are continuously investing for commercializing the fuel.

Jet fuel segment is anticipated to account for more than 90% market share during the forecast period. This can be credited to increasing prevalence and usage of this fuel for a wide range of aircrafts. Furthermore, the fuel is also available in various grades and forms which are ideal for civil and military aircrafts including Jet A, Jet B, and Jet A-1 among others.

North American companies to witness significant aircraft production and deliveries backlog

Proliferating tourism and improving air passenger travel in Asia Pacific to drive regional demand

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Asia Pacific aviation fuel market size is predicted to observe substantial growth from 2019 to 2026 led by proliferating tourism industry across the region. Additionally, improving living standards and rising disposable income are further expanding the regional growth. Airliners in the region are entering into strategic and long-term agreements with aviation fuel companies for ensuring a continuous supply of fuel for their aircrafts.

North America holds significant market revenue share. This is owing to rising aviation production and deliveries in the region. Moreover, aircraft manufacturers are experiencing remarkable delivery backlogs which are expected to influence growth opportunities in the market.

Strategic collaborations form the major basis for business expansion

Industry players are engaged in strategic collaborations and partnerships with airline operators for innovating the technologies associated with the aviation fuel and expand their business share. Major companies in the market include Shell, BP, ExxonMobil, Chevron, and Gazprom.

The aviation fuel market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in million barrels per year and revenue in USD million from 2016 to 2026, for the following segments:

Market by Grade

  • Jet fuel
  • Aviation Gasoline
  • Biokerosene

Market by End-use Sector

  • Commercial
    • Narrow Body
    • Wide Body
  • Regional
  • Business
  • Helicopter
  • Military

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Russia
    • Spain
    • Netherlands
    • Switzerland
  • Asia Pacific
    • China
    • Japan
    • Australia
    • Indonesia
    • India
    • South Korea
    • Thailand
    • Hong Kong
    • Singapore
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Chile
    • Colombia
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Turkey
    • South Africa

Frequently Asked Questions (FAQ) :

Asia Pacific market size is predicted to observe substantial growth from 2019 to 2026 led by proliferating tourism industry across the region.
According to this research report by GMI, the jet fuel grade segment is anticipated to account for more than 90% market share during the forecast period.
Major companies in the market include Shell, BP, ExxonMobil, Chevron, and Gazprom.
The North America market demand can be attributed to rising aviation production and deliveries in the region.

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Premium Report Details

  • Published Date: Nov 2019
  • Pages: 160
  • Tables: 217
  • Charts / Figures: 24
  • Companies covered: 15
  • Countries covered: 28

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