Aviation Fuel Market Size to exceed $325bn by 2026

Aviation Fuel Market size is poised to exceed USD 325 billion by 2026; according to a new research report by Global Market Insights, Inc.
 

Proliferating air passenger traffic coupled with improving tourism industry are playing a major role in expanding the airline travel routes, thereby driving the aviation fuel market revenue over the study period. Improving middle class living standards coupled with increasing preference for air travel over longer routes owing to safe and efficient transportation are further augmenting the industry share. Rising development and experiment in green fuel including biokerosene technologies are expected to offer significant growth opportunities in the near future.

 

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Aviation fuel industry players and airliners globally are focusing towards the development and commercialization of biofuel as an alternative for the traditional jet fuel for minimizing the harmful impacts on the environment. For instance, in 2019, KLM announced significant investments in the European industrial plant for producing biokerosene. The plant is expected to be operational by 2022.
 

Browse key industry insights spread across 160 pages with 217 market data tables & 24 figures & charts from the report, “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” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/aviation-fuel-market
 

Aviation gasoline is expected to showcase a healthy growth of around 4% over the forecast timeframe. This can be attributed to the increasing usage of these fuel for powering light weight and compact aircrafts. Additionally, these fuels have superior compression ratio, which contributes significantly towards improving the engine efficiency, thereby providing a positive outlook for the aviation fuel business share expansion.
 

Jet fuel is still the most preferred choice among all airlines

Jet fuel is highly preferred, while biokerosene fuel is gaining popularity
Jet fuel is highly preferred, while biokerosene fuel is gaining popularity

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Jet fuel is set to dominate the aviation fuel market share with more than 90% share over the projected timeframe. This can be attributed to the lower fuel cost compared to its counterparts. Additionally, the fuel also has significantly higher energy content per unit volume, thereby improving the aircraft performance significantly. The reduced volatility of the fuel makes it safer and lowers the fuel handling danger, thereby boosting the fuel demand.
 

Military sector will showcase a growth of over 4.5% over the study period. This can be attributed to the rising focus of governments globally to improve their defense and military forces. Moreover, increasing investments and advancing modernizing programs are expected to provide future growth opportunities for the rising demand. Rising military expenditure globally will provide lucrative opportunities for industry players to invest in the sector. For instance, according to the Stockholm International Peace Research Institute (SIPRI), the world military expenditure accounted for over USD 1.8 trillion in 2018.
 

Helicopters will account for a respectable revenue share of more than 16% over the study period. This can be credited to the rising demand for helicopters for tourism and emergency rescue services. The benefits offered by these crafts, including vertical take-off and landing operations coupled with the ability to hover over limited air space are further supporting the market expansion.
 

Low cost carriers driving the European aviation fuel market demand

The European aviation gasoline market accounted for over USD 34 billion in 2018. This can be attributed to the rising air travel across the region. The proliferating low cost carriers coupled with improving tourism industry are expected to offer significant growth opportunities for the regional expansion. According to the International Air Transport Association (IATA), few of the major airline operators across the region with over 70% operating margins are Lufthansa Group, Air France-KLM, and IAG.
 

Industry players are investing in sustainable fuel solutions

Industry players are continuously engaged in advancing technologies and processes associated with the production of green fuels. For instance, in November 2019, Shell announced the provision for technical support and commercial expertise for the Europe’s first sustainable aviation fuel plant. Few of the major players operating in the aviation fuel market include Reliance Petroleum, HPCL, Shell, ExxonMobil, Gazprom, and Chevron among others.
 

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