Global Aviation Fuel Market to Reach Around 402 Million Tons by 2032, Aided by the Rising Trend of Air Travel

North America holds a significant market share of the market due to the rising number of air passengers globally. The rising disposable income and hectic schedules of consumers further surge the popularity of air travel, aiding the aviation fuel market growth.

The increasing environmental concerns and rising attempts to reduce carbon emissions from the aviation sector are driving the development of sustainable aviation fuels (SAFs). Countries such as the United States are also actively investing in research and development to commercially produce sustainable aviation fuels on a large scale.

Advancements in green technology, the introduction of stringent government initiatives aimed at mitigating carbon emissions, a growing focus on energy and defence security, and an open global economic environment are also expected to favour the adoption of sustainable aviation fuels (SAFs) in the coming years.

Increasing attempts by key players to produce sustainable aviation fuels (SAFs) amid rising air travel is positively influencing the market growth. For instance, in December 2023, Exxon Mobil Corporation (NYSE: XOM) announced its plans to produce 3,000 barrel biofuels, including SAFs, at its Gravenchon facility in France by 2025 by simultaneously treating both petroleum and renewable feedstocks.

Besides, leading companies are collaborating with governments to enhance the sustainability of the aviation industry. For example, in November 2023, the United States, along with Boeing, launched an initiative to develop and use sustainable aviation fuel (SAF) in Asia-Pacific Economic Cooperation (APEC) member countries to achieve net zero emissions by 2050.

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Market Analysis by Fuel Type, Aircraft Type, End Use, and Region:

• The market, on the basis of fuel type, can be divided into air turbine fuel, avgas, and biofuel, among others.

• Based on aircraft type, the market can be divided into fixed wings and rotorcraft, among others.

• The various end use for aviation fuel include commercial, military, and private, among others.

• The major regional markets for aviation fuel include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Liquid fuels are necessary for aeroplanes, and the International Air Transport Association projects a yearly growth in air travel worldwide of more than 3%. The rising number of air passengers fuels the market demand.

• The research and development of sustainable aviation fuel that is made from organic materials, such as waste oils, fats, and specialised non-food crops, and innovations in fuel-efficient aviation engines contribute to the aviation fuel market growth.

• Construction and remodelling of airports such as Los Angeles International Airport and capacity expansion of San Francisco International Airport positively influence the market by expanding demand.

• The growth in business travel and MICE events across the world further contributes to the market by creating robust flight demand.

Key Offerings of the Report:

• The EMR report gives an overview of the global aviation fuel market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the fuel types, aircraft types, end uses, and major regions of aviation fuel.

• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.

• The market report also analyses the trade data by covering the major importing and exporting countries.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global aviation fuel market are BP p.l.c., Chevron Corporation, Exxon Mobil Corporation, Royal Dutch Shell plc, TOTAL SE, and Indian Oil Corporation Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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