Aviation Fuel Market: Outlook, Opportunity and Demand Analysis, Forecast 2026

Aviation fuel market forecast will be primarily driven by rapid growth of the global tourism sector. This growth can be largely attributed to a booming middle-class population around the world. Strong economic growth around many emerging economies and increased purchasing power of consumers is propelling the expansion of aviation and tourism industries. The market size will reach US$325 billion by 2026.

Flights are comfortable and convenient, especially over longer routes, which is why an increasing number of people worldwide are now opting for air travel. The introduction of low-cost carriers and the consequently dropping air fares will propel aviation fuel market outlook.

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Based on fuel type, the aviation fuel market is categorized into aviation gasoline, biokerosene and jet fuel. Out of these three, biokerosene segment is anticipated to garner the highest growth at more than 33% over the predicted period. Constant developments and investments in biokerosene could make it a viable fuel option for future aircrafts. Additionally, growing attempts by industry partakers to develop commercially viable, environmentally friendly fuel alternatives may complement biokerosene market outlook. In 2019, the U.S. Department of Energy provisioned a grant of USD 1.7 million to the Fuel Laboratory of Renewable Energy for boosting the development of sustainable aircraft gas.

With growing demand for short-distance trips and business travel, the overall market share for business jets is expected to foster in the coming years. Analysts predict that business jets could account for more than 14% of the aviation fuel market share. Business models like multiple aviation ownership plans which contain timeshare and fractional ownership have allowed individuals to conveniently own private jets. Increasing implementation of such models could hugely contribute towards industry growth. Whereas escalating demand for chartered airplane services may offer tremendous prospects for market expansion.

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As per regional share, the aviation fuel market of Middle East & Africa (MEA) and Latin America is anticipated to record fruitful proceeds in the coming years. Rapid surge in the region’s tourism industry along with steady growth in air traffic has compelled major airplane manufacturers to develop more widebody frames for commercial airlines. Recovering economy and mergers of various international airliners in Latin America may boost product demand. Meanwhile, propelling demand for private jets in MEA would act as a key factor contributing to the region’s market growth.

Some of the prominent players present in aviation fuel market include BP, Shell, Gazprom, Chevron, IOCL and Reliance Petroleum. Companies in this industry are focusing on signing strategic deals and forming lucrative partnerships to help progress business reach. Taking November 2019 for instance, BP inked a technical services deal with Sonangol that focused on developing its business in Angola. Thus, with proliferation in the global tourism industry and rise in demand for long-haul business jets, the market is anticipated to accrue sizable growth in the coming years.

Major Key Points from Table of Content:

Chapter 4.   Aviation Fuel Market, By Grade

4.1.  Global market share by grade, 2018 & 2026

4.2.  Jet Fuel

4.2.1. Global market estimates and forecasts, 2016 – 2026

4.2.2. Market estimates and forecast, by region, 2016 – 2026

4.3.  Aviation Gasoline

4.3.1. Global market estimates and forecasts, 2016 – 2026

4.3.2. Market estimates and forecast, by region, 2016 – 2026

4.4.  Biokerosene

4.4.1. Global market estimates and forecasts, 2016 – 2026

4.4.2. Market estimates and forecast, by region, 2016 – 2026

Chapter 5.   Aviation Fuel Market, By End-use Sector

5.1.  Global market share by end-use sector, 2018 & 2026

5.2.  Commercial

5.2.1. Global market estimates and forecasts, 2016 – 2026

5.2.2. Market estimates and forecast, by region, 2016 – 2026

5.2.3. Narrow body

5.2.3.1.   Global market estimates and forecasts, 2016 – 2026

5.2.3.2.   Market estimates and forecast, by region, 2016 – 2026

5.2.4. Widebody

5.2.4.1.   Global market estimates and forecasts, 2016 – 2026

5.2.4.2.    Market estimates and forecast, by region, 2016 – 2026

5.3.  Regional

5.3.1. Global market estimates and forecasts, 2016 – 2026

5.3.2. Market estimates and forecast, by region, 2016 – 2026

5.4.  Business

5.4.1. Global market estimates and forecasts, 2016 – 2026

5.4.2. Market estimates and forecast, by region, 2016 – 2026

5.5.  Helicopter

5.5.1. Global market estimates and forecasts, 2016 – 2026

5.5.2. Market estimates and forecast, by region, 2016 – 2026

5.6.  Military

5.6.1. Global market estimates and forecasts, 2016 – 2026

5.6.2. Market estimates and forecast, by region, 2016 – 2026

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Related News -   https://www.marketwatch.com/press-release/biometrics-market-2021-2024-by-trends-outlook-growth-forecast-2021-06-22

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