Aviation Fuel Market Report 2020-2030
A Global Aviation Fuel Market Estimate and Forecast – Industry Insights For Consumption, Demand, Production, Price Trend, Competitive Intelligence, and Opportunity Analysis Along the Value Chain
The global aviation fuel market was valued at $xx billion in 2018. The market is growing owing to the increasing low-cost carriers amongst developing countries and ever expanding development in aviation sector. Flourishing aviation industry is rapidly altering its efforts towards reducing carbon emissions and further safeguarding sustainable air travel. Aviation fuels are extracted from crude oil that is high value light petroleum based products that have wider application in jet aircraft along with in jet turbines.
Aviation fuel is a combustible energy source that is capable of handling large jet turbine engines. Aviation fuel is a form of petroleum based fuel that is specifically used for availing energy to the aircraft and are considered to be of superior quality fuel. Additionally, aviation fuel provides wider application in various processes such as road transport and heating and provides additives for explosion owing to high temperature and helps in eliminating the risk of icing that is further significantly strengthening the growth of global aviation fuel market.
The number of population travelling through aeroplanes is anticipated to increase at rapid pace owing to extensive inclination of socio-economic and tourism domain that is driving the growth of global aviation fuel market. There are various grades of aviation fuels such as Jet A1 that have wider applicability in commercial domain and Jet A that is extensively being used for the domain aviation in U.S. The superior quality of aviation fuel enables mitigation of pollution levels and further provides effective and sustainable air travel to the passengers of various airlines thus significantly impacting their profit margins.
Increasing per capita income of middle class population has exploded the requirement for luxury and comfort in aviation sector that is another factor bolstering the growth of global aviation fuel market. However, instability in crude oil prices is another factor that is hampering the growth of global aviation fuel market.
Aviation fuel market forecast 2020 – 2030 estimates the historical market size in terms of consumption as well as revenue generated by the industry players across the globe. It offers the opportunity analysis along the value chain for the aviation fuel manufacturers. Also, the report offers the vendor analysis along with price trend which provides an edge to the stakeholders especially manufacturers to create a better understanding of the market. Industry players benefit from the product benchmarking and matrix helping them to take right decision in choosing the right product with optimum prices suited for their end use applications.
The reports provide the analysis based on fuel type and application.
Insights by Product Type
On the basis of fuel type, the global aviation fuel market is categorized jet A and jet A1, and jet B. Of all, the jackup category held the largest share in the market in 2018.
Insights by Application
On the basis of application, the global aviation fuel market is categorized into commercial, defence, and general aviation. Of all, the commercial category held the largest share in the market in 2018, owing to the increasing number of passengers travelled by air. For instance, in 2018, around 50% of the world’s 1.4 billion tourists who travelled across international borders were transported by air. Moreover, significant economic development and huge investment in increasing the overall infrastructure of the commercial airline industry are the other major factor driving the growth of the market.
The report offers the insights for the North American, European, Asia-Pacific, Middle East and Africa, and Latin American Market. A detail analysis of historic and forecast consumption data, revenue in the market and competitive analysis for major competitors in each region is also provided.
Aviation fuel market in Asia-Pacific region is anticipated to generate largest revenue in the global market by 2030, owing to the world’s largest domestic market with 42% of traffic share in 2018, and contributed by the high demand in China and India, due to their increasing GDP per capita and increasing domestic air connectivity. Therefore, with the growing air passenger and air freight traffic in the region majorly from the emerging economies such as Indonesia, India, and Thailand, the Asia-Pacific aviation fuel market is expected to witness huge growth during the forecast period.
Some of the players having prominent presence in the global aviation fuel market include BP plc, Royal Dutch Shell PLC, Exxon Mobil Corporation, Total SA, Qatar Jet Fuel Company, Chevron Corporation, Allied Aviation Services Inc., Valero Marketing and Supply, Gazprom Neft PJSC, and China Aviation Oil.
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