Jet Fuel Market Report 2026

The jet fuel market size has grown steadily in recent years. It will grow from $212.78 billion in 2025 to $222.44 billion in 2026 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to growth in global air passenger traffic, expansion of airline fleets, military aviation fuel demand, development of refinery infrastructure, rise in international trade.

The jet fuel market size is expected to see strong growth in the next few years. It will grow to $276.1 billion in 2030 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to sustainable aviation fuel mandates, growth of low cost carriers, modernization of aircraft fleets, expansion of unmanned aerial vehicles, investment in alternative jet fuels. Major trends in the forecast period include rising adoption of sustainable aviation fuel, growth in commercial air travel demand, expansion of defense aviation fuel consumption, increasing use of synthetic jet fuels, fuel efficiency and emission reduction focus.

The surge in air passengers is expected to drive the growth of the jet fuel market in the coming years. Air passengers are individuals traveling by commercial airlines or private aircraft, and globalization has contributed to the increase in air travel. Rising passenger numbers are prompting airlines to operate more domestic and international flights, thereby increasing jet fuel consumption. Jet fuel supports the aviation industry by enabling continuous flight operations, optimizing airline schedules, and sustaining the global transportation network. For example, in August 2025, the International Air Transport Association reported that in 2024, the US remained the world’s largest aviation market with 876 million passengers, a 5.2% year-on-year increase, while China was the second-largest with 741 million passengers, marking an 18.7% increase compared to 2023. Consequently, the surge in air passengers is fueling the growth of the jet fuel market.

Major companies in the jet fuel market are adopting a strategic partnership approach to produce green jet fuel. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. For example, in May 2023, Alfanar Group, a Saudi Arabia-based manufacturer of electrical construction products, partnered with N+P Group, a Netherlands-based environmental solutions company. This collaboration aims to process waste equivalent to that produced by Birmingham and the broader West Midland Metropolitan Area, using it to generate feedstock pellets for the production of green jet fuel, also known as Sustainable Aviation Fuel (SAF). The waste management strategy includes establishing up to three additional processing facilities throughout the country, with their locations determined by the origin of the waste.

In February 2023, Indian Oil Company Ltd. (Indian Oil), an oil producer in India, collaborated with LanzaJet Inc. to explore the development of sustainable aviation fuel (SAF) in India. This partnership supports India's transition to cleaner fuels and contributes to the country's carbon reduction goals. LanzaJet Inc., a US-based aviation fuel manufacturer, captures waste gas emissions and uses microorganisms to convert them into usable ethanol fuel.

Major companies operating in the jet fuel market are Exxon Mobil Corporation, BP plc, Chevron Corporation, Valero Energy Corporation, Shell plc, TotalEnergies SE, Gazprom Neft PJSC, Indian Oil Corporation, Bharat Petroleum Corp. Ltd., Honeywell International Inc., World Fuel Service Corp., Neste Oyj, World Energy LLC, Rosneft Deutschland GmbH, China Aviation Oil Corporation Ltd., Qatar Jet Fuel Company, Allied Aviation Services Inc., Sinopec Corp., Oman Oil Company SAOC, Marathon Petroleum Corporation, Hess Corporation, National Refinery Limited, CNOOC Limited.

North America was the largest region in the jet fuel market in 2025. The regions covered in the jet fuel market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the jet fuel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The jet fuel market consists of sales of naphtha-type jet fuel, and aviation kerosene. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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