Aviation Fuel Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2025-2034)

The global aviation fuel market attained 230.48 Million Tons of jet fuel in 2024. The market is further expected to grow at a CAGR of 7.20% during the forecast period of 2025-2034 to attain 461.94 Million Tons of jet fuel by 2034.

Lucrative Growth Prospects in the Asia-Pacific to Boost the Market Growth of Aviation Fuel

The market for aviation fuel is expected to be driven by the lucrative opportunities in the developing regions for market expansion, such as the Asia-Pacific, which offers substantial lucrative prospects for key players. Further, considerable investment in the transportation infrastructure in the region recently has provided an impetus to the market growth of aviation fuel. Many developing nations, like India, China, Indonesia, are projected to witness huge growth over the forecast period. In addition, the growing demand for air freight in some developing countries is expected to have a positive impact over the upcoming years. Also, the rising demand for a variety of aviation fuels in the emerging markets has been boosted by the rapid growth of air cargo transportation, consequently aiding the market growth of aviation fuel.

Aviation Fuel: Market Segmentation

Aviation fuel, an exclusive type of fuel, is generally used to energize an aircraft. This fuel is petroleum-based and is of high quality than the regular fuels used in rail transport or road transport, or others.

On the basis of fuel type, the market is divided into:

• Air Turbine Fuel
• Avgas
• Biofuel
• Others

Jet A, Jet A1, Jet B, JP 5, and JP 8.

Based on aircraft type, the industry can be segmented into:

• Fixed Wings
• Rotorcraft
• Others

By end use, the industry is categorised into:

• Commercial
• Military
• Private
• Others

The commercial segment is further segmented into passenger and cargo.

The regional markets for the product include:

• North America
• Europe
• The Asia-Pacific
• Latin America
• The Middle East and Africa

Conscious Shift towards Cost-Effective Aviation Fuels to Aid the Market Growth of Aviation Fuel

The market for aviation fuel is driven by the robust growth in air passengers in developing nations in recent years. In addition, the growing revenue passenger kilometres in recent years are boosting the market growth of aviation fuel. Moreover, a conscious and deliberate shift towards the adoption of more cost-effective aviation fuels and fuels, which particularly have less carbon footprint is aiding the market expansion of aviation fuel. However, the market suffered a sharp decline in 2020 due to the COVID-19 outbreak, which resulted in an abrupt and prolonged suspension of aviation services so as to contain the virus. The recent ease in lockdowns and controlled domestic flights in various countries across the globe are expected to help the aviation fuel industry regain its growth.

Key Industry Players in the Global Aviation Fuel Market

The report gives a detailed analysis of the following key players in the global aviation fuel market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• BP p.l.c.
• Chevron Corporation
• Exxon Mobil Corporation
• Royal Dutch Shell plc
• TOTAL SE
• Indian Oil Corporation Ltd
• Others

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.