The global aviation fuelmarket sizewas valued at $179.2billion in 2018 and is anticipated to generate $238.5 billion by 2026 growing at a CAGR of 3.5% from 2019 to 2026.Aviation fuel is a type of petroleum-based fuel used to energize an aircraft. It has better quality than other fuels used in any other medium of transport. The additives used in aviation fuel reduce the risk of icing or explosion due to high temperature. Aviation fuel is primarily used by most of the military aircrafts and commercial airlines to maximize fuel efficiency and to lower the operational cost.
The increase in demand from military sector and a rise in air transportation drive the growth of the aviation fuel market. Moreover, introduction of new flight routes and construction of new airports also impact the aviation fuel market growth positively. However, fluctuations in crude oil prices and high level of carbon emission hamper the aviation fuel market growth. Meanwhile, emerging sustainable aviation fuel (SAF) offers lucrative opportunities for the growth of the aviation fuel industry.
Aviation fuel market is segmented on the basis of fuel type, aircraft type, end user, and region. Depending on fuel type, it is divided into jet A, jet A1, jet B, JP 5, JP 8, avgas, and biofuels. Depending on aircraft type, the market is classified into fixed wings, rotorcraft, and others. By end user, the market is categorized into civil, military, private, and sports & recreational. Region wise, the aviation fuel market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in the aviation fuel industry include Bp p.l.c., Chevron Corporation, Exxon Mobil Corporation, Gazprom, Indian Oil Corporation Limited, Petrobras, Royal Dutch Shell plc, Sinopec Group, Total SA, and Oman Oil Company SAOC. The key players have adopted strategies such as partnership and business expansion to sustain the intense competition in the market.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Fuel Type
By Aircraft Type
By End User
By Region
Key Players
The increase in demand from military sector and a rise in air transportation drive the growth of the aviation fuel market. Moreover, introduction of new flight routes and construction of new airports also impact the aviation fuel market growth positively. However, fluctuations in crude oil prices and high level of carbon emission hamper the aviation fuel market growth. Meanwhile, emerging sustainable aviation fuel (SAF) offers lucrative opportunities for the growth of the aviation fuel industry.
Aviation fuel market is segmented on the basis of fuel type, aircraft type, end user, and region. Depending on fuel type, it is divided into jet A, jet A1, jet B, JP 5, JP 8, avgas, and biofuels. Depending on aircraft type, the market is classified into fixed wings, rotorcraft, and others. By end user, the market is categorized into civil, military, private, and sports & recreational. Region wise, the aviation fuel market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in the aviation fuel industry include Bp p.l.c., Chevron Corporation, Exxon Mobil Corporation, Gazprom, Indian Oil Corporation Limited, Petrobras, Royal Dutch Shell plc, Sinopec Group, Total SA, and Oman Oil Company SAOC. The key players have adopted strategies such as partnership and business expansion to sustain the intense competition in the market.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides extensive qualitative and quantitative analysis of the current trends and future estimations of the aviationfuel market from 2018 to 2026 to determine the prevailing opportunities.
- Comprehensive analysis of factors that drive and restrict aviation fuel market growth is provided.
- The aviation fuel market forecast andestimations are based on factors impacting the market growth, in terms of value.
- Profiles of leading players operating in the aviation fuelmarket are provided to understand the global competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable aviation fuelmarket share.
- The aviation fuel market size is provided in terms of revenue
- The report provides an in-depth analysis of the forecast along with the current and future aviation fuel market trends
KEY MARKET SEGMENTS
By Fuel Type
- Jet A
- Jet A1
- Jet B
- JP 5
- JP 8
- Avgas
- Biofuels
By Aircraft Type
- Fixed Wings
- Rotorcraft
- Others
By End User
- Civil
- Military
- Private
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Singapore
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Players
- Bp p.l.c.
- Chevron Corporation
- Exxon Mobil Corporation
- Gazprom
- Indian Oil Corporation Limited
- Petrobras
- Royal Dutch Shell plc
- Sinopec Group
- Total SA
- Oman Oil Company SAOC
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: AVIATION FUEL MARKET, BY FUEL TYPE
CHAPTER 5: AVIATION FUEL MARKET, BY AIRCRAFT TYPE
CHAPTER 6: AVIATION FUEL MARKET, BY END-USER
CHAPTER 7: AVIATION FUEL MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
Executive Summary
According to the report titled, 'Aviation FuelMarket by FuelType, Aircraft Type, and End-User: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global aviation fuelmarket sizewas valued at $179.2billion in 2018 and is anticipated to generate $238.5billion by 2026. The market is projected to experience growth at a CAGR of 3.5% from 2019 to 2026.Aviation fuel is a type of petroleum-based fuel used to energize an aircraft. It has better quality than other fuels used in any other medium of transport. The additives used in aviation fuel reduce the risk of icing or explosion due to high temperature. Aviation fuel is primarily used by most of the military aircrafts and commercial airlines to maximize fuel efficiency and to lower the operational cost. Aircraft industry is exp anding nowadays, which is increasing the competition among aircraft aviation fuel production in all sectors.
The demand from military sector for efficient and low cost military grade fuel has increased as all the nations are increasing their military strength. owing to an increased disposable income and boom in tourism industry, rise in air transportation has been experienced through air travel mode, which further drives the market growth. Moreover, introduction of new flight routes and investments from government in the field for construction of new airports also boosts the aviation fuel market growth. However, fluctuations in crude oil prices and a rise in concerns over high level of carbon emissions leading to strict rules and regulations hampers the market growth. Meanwhile emerging sustainable aviation fuel (SAF) that is produced from typical feedstocks such as cooking oil and other non-palm waste oils from animals or plants, solid waste from homes and businesses, such as packaging, paper, textiles, and food scraps offer lucrative opportunities for the growth of the aviation fuel industry.
The global aviation fuel is segmented on the basis of fuel type, aircraft type, end user, and region. Depending on fuel type, it is divided into jet A, jet A1, jet B, JP 5, JP 8, avgas, and biofuels. In 2018, jet A1 dominated the market share and is expected to grow at higher a CAGR during the forecast period. Depending on aircraft type, the market is classified into fixed wings, rotorcraft, and others. Fixed wings dominated the market share in 2018 and is expected to remain dominant during the forecast period. By end user, the market is categorized into civil, military, private, and sports & recreational. The civil segment dominated the market share and is expected to grow at higher CAGR compared to other end users. Region wise, the aviation fuel market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East and Africa). The global market was dominated by North America while, Asia-Pacific is expected to grow at higher CAGR owing to high demand from emerging economies in the region.
The key players in Bp p.l.c., Chevron Corporation, Exxon Mobil Corporation, Gazprom, Indian Oil Corporation Limited, Petrobras, Royal Dutch Shell plc, Sinopec Group, Total SA, and Oman Oil Company SAOC .
According to Eswara Prasad, Manager, Energy & Power, “Aviation fuel market is driven by rising air travelers and increasing spend on air travel from emerging economies especially from Asia-pacific region. The most commonly used Jet A1 fuel will dominate the market during forecast period while biofuels will gain significant share owing to several investments being made towards sustainable aviation fuel (SAF) and commitment of aviation industry to reduce carbon emission to 50% by 2040 ”.
Key findings of the study
- Global aviation fuel market size is provided in terms of revenue
- India is projected to grow at the highest CAGR of approximately 4.6%, in terms of revenue, during the forecast period
- By end-user, the civil segment is anticipated to grow with CAGR 3.6%, in terms of revenue, during the forecast period
- India and U.S. dominated aviation fuelmarketshare with a revenue of over 4.6% and 4.1% in 2018
- A comprehensive analysis of the factors that drive and restrain the aviation fuelmarket growth is provided
- The qualitative data in this report aims at the aviation fuelmarket trends, dynamics, and developments in the aviation fuel industry
- The aviation fuel market forecast andestimations are based on factors impacting the market growth
Companies Mentioned
- Bp p.l.c.
- Chevron Corporation
- Exxon Mobil Corporation
- Gazprom
- Indian Oil Corporation Limited
- Petrobras
- Royal Dutch Shell plc
- Sinopec Group
- Total SA
- Oman Oil Company SAO
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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