Market Overview:

The global aviation fuel market reached a value of US$ 288.60 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 387.60 Billion by 2027, exhibiting a CAGR of 4.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Aviation fuel is a colorless, combustible, and straight-run petroleum distillate utilized for aircraft propulsion. It is also used as a coolant or heat sink while providing high thermal stability to the engine and airframe. Besides this, it is employed as a hydraulic fluid to convey pressure signals in the control system and position engine devices, such as the compressor stator vane and compressor air bleed valve positions, to achieve ideal operating conditions. Aviation fuel offers several advantages to aircraft, including stability, lubricity, fluidity, volatility, non-corrosivity, cleanliness, and prevents the risk of explosion and deposit formation in the turbine after mixing with additives.

Aviation Fuel Market Trends:

At present, there is a considerable rise in the usage of aviation fuel in military aircraft to increase fuel efficiency and reduce operational costs across the globe. This, along with the burgeoning aircraft industry, represents one of the key factors driving the market. Moreover, there is a rise in air transportation due to economic and demographic growth around the world. This, coupled with the increasing development of airports for better connectivity, is strengthening the growth of the market. Additionally, key market players are investing in research and development (R&D) activities to introduce biofuels that can significantly reduce carbon emissions. In line with this, the growing demand for sustainable aviation fuel (SAF) as an alternative to fossil fuels is positively influencing the market. Apart from this, the escalating demand for air freight as it is the fastest way of transporting goods internationally is offering lucrative growth opportunities to industry investors. Other growth-inducing factors expected to strengthen the market growth are rapid economic development and the rising production of aviation fuel.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global aviation fuel market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on fuel, aircraft and end use.

Breakup by Fuel:

• Jet A1
• Jet B
• JP 5
• JP 8
• Avgas
• Biofuel
   

Breakup by Aircraft:

• Fixed Wings
• Rotorcraft
• Others
   

Breakup by End Use:

• Commercial
• Military
• Private
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Abu Dhabi National Oil Company, Bharat Petroleum Corp. Ltd., BP plc, Chevron Corporation, China Aviation Oil (Singapore) Corporation Ltd, Exxon Mobil Corporation, Indian Oil Corporation Ltd., Neste Oyj, Oman Oil Marketing Company SAOG, Petróleo Brasileiro S.A. (Petrobras), Shell plc, TotalEnergies SE and Vitol.

Report Coverage:

Key Questions Answered in This Report:

• How has the global aviation fuel market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global aviation fuel market?
• What are the key regional markets?
• What is the breakup of the market based on the fuel?
• What is the breakup of the market based on the aircraft?
• What is the breakup of the market based on the end use?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global aviation fuel market and who are the key players?
• What is the degree of competition in the industry?