Latest News- Aviation Fuel Market: Commercial is expected to lead the End-user segment during 2024-2028

The Aviation Fuel Market is being driven by Increasing focus on clean aviation fuel

The Aviation Fuel Market is expected to grow at a CAGR of 8.55% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 109 billion. Vendors in the aviation fuel market are spearheading innovation by introducing new technologies for the production of sustainable aviation fuel (SAF). Notably, Honeywell unveiled its UOP eFining technology in March 2023, enabling the production of low-carbon eFuels, a sustainable alternative to traditional fossil fuels. Furthermore, in October 2022, Honeywell introduced an ethanol-to-jet fuel (ETJ) processing technology, converting corn-based, cellulosic, or sugar-based ethanol into SAF. These advancements underscore the potential growth of the global aviation fuel market during the forecast period, as the industry transitions towards more sustainable fuel solutions. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Commercial
  • Military
  • Private
• Product
  • ATF
  • Aviation biofuel
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
  • Europe
    • Germany
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing focus on clean aviation fuel
• Increase in demand for air travel
• Increasing use of military UAVs

However, the market also witnesses some limitations, which are as follows:

• Fluctuations in oil and gas prices
• Competition from fuel cells
• High cost of sustainable aviation fuels

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Market Scope in Aviation Fuel Market Research Report

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Research Analysis Overview

The Aviation Fuel Market encompasses Aviation Turbine Fuel and Aviation Gasoline, serving Commercial Aviation, Defense Aviation, and General Aviation. Fossil fuels, including jet fuel, contribute significantly to greenhouse gas emissions. Regulatory bodies impose environmental regulations, pushing for biofuels and efficient, aerodynamic aircraft. Risks of icing and fuel consumption impact air passenger travel. Proliferating businesses in short-distance travel and flying routes drive operating expenses. Aircraft manufacturers focus on reducing fuel costs through strategic mergers, efficient aircraft designs, and electric aircraft. Disposable income and customer base expansion influence market growth. Conventional fuelled aircraft face risks of icing and increased regulatory scrutiny.

Market Research Overview

The aviation fuel market encompasses the production and supply of Aviation Turbine Fuel (ATF) and Aviation Gasoline (AvGas) for commercial, defense, and general aviation sectors. According to Technavio, the size of the global aviation fuel market is determined by the consolidated revenue of key industry players engaged in the production and distribution of coal and related fuels, including fossil fuels and emerging biofuels. Market expansion will be fueled by escalating energy demand, driven by factors such as dwindling fossil fuel reserves and volatile fuel prices, as well as growing energy insecurity in countries heavily reliant on coal imports.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/