The report "Aviation Fuel Market by Fuel Type (Jet Fuel, Avgas, Biofuel, Hydrogen Fuel, Power-To-Liquid, Gas-To-Liquid), End User (Airline, Government & Military, Non-Scheduled Operators), Aircraft Type and Region - Global Forecast to 2030" The Aviation fuel Market is estimated in terms of market size to be USD 200.21 billion in 2024 to USD 325.98 billion by 2030, at a CAGR of 8.5% and in terms of volume to be 86.20 billion gallons in 2024 to 132.80 billion gallons by 2030 at a CAGR of 7.5%t during the forecast period.
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Aviation fuel manufacturers focus on developing high quality fuels that enhance the aircrafts performance and reduce operational costs associated with air travel. Increasing focus on reducing aviations emissions impact on environment have increased the investment in sustainable aviation fuels. Aviation fuel manufacturers play a pivotal role in providing efficient and environmentally responsible fuel to the global aviation industry. Advancements and availability of various fuel producing techniques is also contributing to the aviation fuel market.
By Aircraft Type, Unmanned Aerial Vehicle (UAV) segment for the aviation fuel market is projected to grow at highest market share during the forecast period. Unmanned Aerial Vehicle (UAV) segment by aircraft type is projected to grow at highest market share due to growing demand for use in defense sector for activities like ISR and tactical operations. Technological development further propels the Unmanned Aerial Vehicle (UAV) market, especially the propulsion system and alternative fuels. Innovations with hybrid-electric and hydrogen power and integration with SAFs address both concerns around the efficiency of operationalization and environment. Regulatory policies promoting Unmanned Aerial Vehicle (UAV) inclusion into controlled airspace along with research and development promoted by the governments help expand this market. As the demand for Unmanned Aerial Vehicle (UAV) grows across various sectors, the segment is going to drive significant changes in the aviation fuel market and, therefore, will be one of the key contributors to the evolution of the industry during the forecast period.
Based on fuel type, the Sustainable Aviation Fuel (SAF) segment will be dominating the market acting as a ideal form of aviation fuel.
The Sustainable Aviation Fuel (SAF) segment will be dominating the market acting as a ideal form of aviation fuel in terms of environmental concerns. SAF has the ability to reduce greenhouse gas emissions by 80% which helps the global aviation sector to align with the aim of achieving net-zero emissions. Also, airlines are increasingly incorporating SAF to meet regulatory requirements, thereby contributing to the growing demand for Saf aviation fuel.
Asia Pacific holds the second highest market share in the regions considered for the aviation fuel market.
Asia Pacific is projected to hold the second highest maket share in the regions considered for aviation fuel market in the forecast period. Increasing air travel demands in the region both for domestic and international is fuelling the demand for aviation fuel in the region. Also, Govenrmnets and aviation sector in the region is actively investing in the production of SAF innovations. The key hubs in Singapore continue to dominate as the global transit points, while in emerging markets, there is rapid construction of airports and expansion of fleets to take care of more passenger traffic. This growth directly correlates with higher consumption of aviation fuel thereby increasing the asia pacific region market share.
Exxon Mobil Corporation (US), Chevron Corporation (US), BP P.l.C (UK), Shell (UK), and TotalEnergies (France) are the major key players in the aviation fuel market. These companies have strong distribution networks across regions like North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.
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