Global Aviation Fuel Market Research Report forecast 2019-2026
Summary - A new market study, titled “Global Aviation Fuel Market -
2019-2026” has been featured on Wise Guy Reports.
Global Aviation Fuel Market
Overview:
The global Aviation Fuel
market size was worth USD XX billion in2018 and is forecasted to reach USD XX
billion by 2026, at a CAGR of XX% during the forecast period.
Aviation fuel is a
specialized type of petroleum-fuel used to power aircraft. It is generally of
higher quality than fuels used in less critical applications, such as heating
or road transportation, and often contains additives to reduce the risk of
icing or explosion due to high temperature among other properties.
Most current commercial airlines and military aircraft use
jet fuel for maximum fuel efficiency and lowest cost. Aviation fuel generally
arrives at the airport via pipeline systems, such as the CEPS (Central Europe
Pipeline System) in Europe. It is then pumped over and dispensed from a tanker.
The fuel is then driven up to parked aircrafts and helicopters. Some airports
have pumps similar to filling stations to which aircraft must taxi. Some
airports have permanent piping to parking areas for large aircrafts.
Global Aviation Fuel Market Dynamics:
Increase in the global middle-class population, growing
demand for a global passenger traveling and rising number of aircrafts carriers
are the crucial factors driving the market growth. Aviation fuel market has
seen a considerable increase in passenger air travel globally. In the last six
years, the aviation industry has witnessed a rise in more than 6% of global air
passenger travel demand. As per the study of International Air Transport
Association (IATA), there are around 7.8 billion passengers who are expected to
be traveling by 2036, which is almost double the number in 2017 globally.
Increase in the middle-class population along with rising
affordable air carrier services will further drive the Aviation fuel market
growth. For instance, according to the OECD – Organisation for economic
co-operation and development, the size of the global middle class will increase
4.9 billion by 2030. Price of crude oil still dropping to around USD 53.50 and
rising income of the middle class is aggressively motivating many low budget
carriers’ companies to serve the passengers well. Low oil prices have been a
significant contributor to recent growth in air transportation. With aviation,
fuel costs running at around a third of overall airline costs, passing on the
lower oil prices to the customers in the form of lower ticket costs have
certainly contributed to the strong performance.
Stringent regulations and rise and fall in oil & gas
prices are the restraints hampering the market growth globally. Global strict
environmental policies from government in reducing carbon footprint from air
travel is a key restraint for the market growth. The prices of crude oil, the
main factor determining the cost of aviation fuel has drastically come down in
recent days, however the growth can again decline as the prices of the crude
oil rise over the coming years.
Global Personal Mobility Device Market Segment Analysis:
Based on the type of aviation fuel it is categorized as Jet
Fuel A, A-1, and Jet B and Biofuel. Jet Fuel A-1 is the major segment, as it is
the standard fuel with commonly used all over the world. Jet A is the fuel type
which is usually used in the United States and major airports in Canada. Jet
Fuel B is the fuel with Naptha-kerosene in it and is mostly used in cold
countries. It is an alternative fuel to Jet A-1, as Jet A-1 is difficult to
handle high flammable conditions. Airline companies are using alternative fuels
such as biofuel to cope with environmental concerns globally. For instance, In
August 2018 Spicejet Airline Company took off from Dehradun to New Delhi
propelled with the mixture of Bio-Diesel and Aviation fuel.
Based on the application type, the aviation fuel is
categorized as commercial, defense, and others. Commercial aircraft segment is
further divided into cargo aircraft and passenger aircraft. Commercial aircraft
held the major share in the consumption of aviation fuel due to the large
mobility of passengers traveling worldwide every year. Defense aircrafts
segment holds the next highest share in the consumption of Aviation fuel as
they are governed and owned by various federal state governments and private
organization working for defence operations in respective countries. Defence
segment is anticipated to witness a positive impact on aviation fuel market
growth over the next few years. High conventional fuel cost have led the defence
segment to huge expenses, which forced to invest in new generation aviation
fuel.
Global Aviation Fuel Market Segmentation-Geographical
Analysis:
The North America Aviation Fuel market size was worth USD XX
billion in 2018 and is forecasted to reach USD XX billion by 2026, at a CAGR of
XX% during the forecast period. Investments from US governments on aviation
fuel for their defense department is helping the development of the aviation
fuel market in North America. The U.S. Department of defense shows the utmost
demand for aviation fuel, hence it is allotting huge sums of money for testing
and adoption of aviation fuels. In recent years, emissions norms being strict
for airlines operating companies which have shown interest towards alternative
jet fuel was trending majorly in developed economies like US and Canada, where
they tried using bio jet fuel replacing conventional ones.
Asia Pacific region is expected to hold the maximum share in
the forecast period with increasingly urbanization and changing lifestyles from
key performing countries, thus leading to strong demand for Aviation fuel
market growth. Developing countries such as China, India, and Indonesia are
expected to be the fastest growing markets regarding additional annual
passengers by 2036. New Infrastructure developments leading to better
connectivity in the air travel sector in the nations of Asia Pacific especially
in China, India, Singapore, and Indonesia will lead to increasing in the air
travel passengers, in turn driving the demand for Aviation fuel.
Global Aviation Fuel Market Competitive Analysis:
Major aviation fuel companies in the world have gone through
a rough phase with volatile oil prices and showed a continuous increase which
led to the intense competition between different low budget carriers &
premium carrier airlines.
Air BP, Shel, Exxon Mobil, Chevron Corp, Gazprom, Total SA,
and IOCL are the key market players operating in Aviation Fuel Market globally.
Industry players are developing new fuel technologies in the
Aviation fuel market. For instance, In November 2018 Japan's biotechnology
company Euglena started mass production of bio jet fuel and biodiesel derived
from algae and waste oil, being the first company to fuel green commercial
flights out of Japan.
In November 2017, Shell aviation announced that it has
signed a fuelling concession agreement to operate the new into-plane and fuel
farm facilities as the sole jet fuel supplier at Salalah International Airport
in Oman.
Why Purchase the Report
• To gain immense market opportunities lying in the Global
Aviation fuel market which includes alternative fuels like CNG, bio jet fuel.
• To determine the potential of this sector which is in
continuously growing as the demand of the passengers is increasing year on
year.
• This report brings down an in-depth analysis of the future
estimated growth in the aviation fuel market with qualitative interviews of the
experts.
• To identify and implements a strategy to enter into this
developing and growing sector.
Who can buy this report?
• Researchers/Scholars
• Airlines companies
• Fuel suppliers/manufacturers
• Aviation Industry professionals
• Emerging Companies
• Education & Research Institutes
FOR MORE DETAILS : https://www.wiseguyreports.com/reports/3791880-global-aviation-fuel-market-2019-2026
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