항공 연료 시장 예측(-2030년) : 연료 유형, 항공기 유형, 등급, 최종사용자별, 지역별 세계 분석

According to Stratistics MRC, the Global Aviation Fuel Market is accounted for $292.77 billion in 2023 and is expected to reach $827.44 billion by 2030 growing at a CAGR of 16% during the forecast period. Jet fuel, also referred to as aviation fuel, is a particular kind of petroleum-based fuel intended for use in aircraft. To guarantee the best possible performance and safety during aviation operations, this high-energy-density liquid is subjected to strict specifications. Jet fuel is categorized into several grades, the most commonly used being Jet A and Jet A-1 on a worldwide scale. These fuels, which are based on kerosene, are designed to endure the harsh circumstances that arise at low temperatures and high altitudes

According to the International Air Transport Association (IATA), the aviation industry continues to grapple with challenges related to fuel efficiency and environmental sustainability. The association emphasizes the need for collaborative efforts and innovation within the industry to address these concerns, highlighting the pivotal role of advancements in aviation fuel technologies and sustainable practices in shaping the future of air transportation.

Market Dynamics:

Driver:

Growth of the aviation industry

The aviation fuel market is primarily driven by the ongoing growth of the global aviation industry. Due to factors like economic growth, rising disposable income, and globalization, there is a surge in demand for air travel, which leads to a proportionate increase in the consumption of aviation fuel. Additionally, this expansion is especially noticeable in developing nations, where the aviation industry is expanding quickly and supporting a steady demand for jet fuel.

Restraint:

Unpredictability in energy prices

The volatility of oil prices poses a major constraint on the aviation fuel market. Airlines and other industry stakeholders face difficulties as a result of fluctuations in the world oil markets, which are impacted by geopolitical events, disruptions in supply, and economic uncertainty. Furthermore, the profitability of aviation companies may be impacted by sudden increases in oil prices, which can also result in higher operational costs and financial uncertainty.

Opportunity:

Growth of eco-friendly aviation fuels

The aviation industry's growing focus on sustainability offers a substantial chance for the use of sustainable aviation fuels (SAFs). Moreover, an environment that is conducive to the development and use of cleaner and greener alternative fuels is created by rising environmental consciousness and regulatory support for lowering carbon emissions.

Threat:

Inadequate facilities for alternative fuels

The smooth integration of alternative fuels, like hydrogen-based fuels or sustainable aviation fuels (SAFs), into the aviation industry is threatened by the lack of infrastructure for these fuels. Furthermore, the expansion of alternative fuel options may be hampered by inadequate production facilities, distribution networks, and storage capacities, which would slow down the industry's transition to sustainability.

Covid-19 Impact:

The COVID-19 pandemic had a major effect on the aviation fuel market because it resulted in widespread travel restrictions, lockdowns, and a sharp decline in demand for air travel. Airlines around the world encountered previously unheard-of financial difficulties, including grounded fleets and decreased revenues, which led to postponed fuel purchases and an excess of fuel in the market. Additionally, the market's susceptibility to external shocks was highlighted by the pandemic's disruptive effects, which led to a re-evaluation of supply chain resilience and the requirement for industry-wide adjustments to handle unforeseen crises.

The Jet fuel segment is expected to be the largest during the forecast period

When it comes to aviation fuel, jet fuel usually has the largest market share. Specifically, jet fuel is the main fuel used in military and commercial aircraft. It is a specific kerosene-based fuel made for jet engines that provides stability and high energy density over a broad temperature range. Moreover, due to its wide range of aircraft compatibility and strict adherence to industry standards, jet fuel has a dominant market share.

The Commercial segment is expected to have the highest CAGR during the forecast period

In the aviation market, the commercial aviation segment has consistently demonstrated the highest CAGR. The demand for air travel worldwide is rising, airline fleets are getting bigger, and economic growth is driving the expansion of the commercial aviation sector, which includes the passenger and cargo services offered by airlines. Growing middle-class populations, the emergence of emerging markets, and the ongoing demand for effective transportation all contribute to the sector's steady growth. Additionally, new routes, improved aircraft technology, and a growing emphasis on fuel economy all contribute to the expansion of commercial aviation.

Region with largest share:

The Europe region had the largest market share during the forecast period. Strong airline companies, significant international airports, and a dense network of domestic and international flights all support the European aviation industry. Europe has a significant market share due to the presence of major aviation services and aircraft manufacturing companies with their headquarters there. Furthermore, regulatory structures, technological advancements, and a commitment to environmentally friendly aviation further define Europe's role as a major player in the world aviation market.

Region with highest CAGR:

The market's highest CAGR has frequently been seen in the Asia-Pacific region. Rapid urbanization, the expansion of the middle class, and the rising demand for air travel in emerging economies like China and India are some of the factors driving this growth. Significant investments in aviation infrastructure, airline fleet expansion, and an increasing emphasis on modernizing airport facilities have all occurred in the Asia-Pacific region. Additionally, the aviation industry has grown rapidly due to the region's strategic importance in world trade and commerce.

Key players in the market

Some of the key players in Aviation Fuel market include Emirates National Oil Company, Chevron Corporation, Marathon Petroleum Corporation, Abu Dhabi National Oil Company, Essar Oil Limited, Allied Aviation Services Inc, Exxon Mobil Corporation, Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, World Fuel Services Corporation, British Petroleum Fuel, Royal Dutch Shell plc, China Aviation Oil Corporation Ltd, Viva Energy Group, TotalEnergies SE and Valero Energy Corporation.

Key Developments:

In December 2023, Marathon Petroleum Corporation MPC, a leading downstream energy company, secured a two-year time charter contract with Performance Shipping Inc., a prominent oil shipping company. The deal involves Performance Shipping's M/T P. Long Beach tanker transporting refined products for MPC at a rate of $37,200 per day, generating approximately $25.7 million in gross revenue for the former.

In October 2023, Chevron Corporation announced today that it has entered into a definitive agreement with Hess Corporation to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on Chevron's closing price on October 20, 2023. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The total enterprise value, including debt, of the transaction is $60 billion.

In October 2023, Abu Dhabi National Oil Co. announced it has taken a final investment decision and awarded the build contracts for a gas project expected to produce over 1.5 billion cubic feet per day at home. The state-owned energy giant touted the Hail and Ghasha Offshore Development project in the Emirati capital as the world's first gas production project to have net-zero emissions.

Fuel Types Covered:

• Jet A-1
• Jet A
• Jet B
• JP 5
• JP 8
• Avgas
• Biofuel
• Other Fuel Types

Aircraft Types Covered:

• Fixed Wing
• Rotary Wing
• Unmanned Aerial Vehicle
• Other Aircraft Types

Grades Covered:

• Jet fuel
• Aviation Gasoline
• Biokerosene
• Other Grades

End Users Covered:

• Commercial
• Civil
• Military
• Private
• Sports & Recreational
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 End User Analysis
• 3.7 Emerging Markets
• 3.8 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Aviation Fuel Market, By Fuel Type

• 5.1 Introduction
• 5.2 Jet A-1
• 5.3 Jet A
• 5.4 Jet B
• 5.5 JP 5
• 5.6 JP 8
• 5.7 Avgas
• 5.8 Biofuel
• 5.9 Other Fuel Types

6 Global Aviation Fuel Market, By Aircraft Type

• 6.1 Introduction
• 6.2 Fixed Wing
• 6.3 Rotary Wing
• 6.4 Unmanned Aerial Vehicle
• 6.5 Other Aircraft Types

7 Global Aviation Fuel Market, By Grade

• 7.1 Introduction
• 7.2 Jet fuel
• 7.3 Aviation Gasoline
• 7.4 Biokerosene
• 7.5 Other Grades

8 Global Aviation Fuel Market, By End User

• 8.1 Introduction
• 8.2 Commercial
• 8.3 Civil
• 8.4 Military
• 8.5 Private
• 8.6 Sports & Recreational
• 8.7 Other End Users

9 Global Aviation Fuel Market, By Geography

• 9.1 Introduction
• 9.2 North America
  • 9.2.1 US
  • 9.2.2 Canada
  • 9.2.3 Mexico
• 9.3 Europe
  • 9.3.1 Germany
  • 9.3.2 UK
  • 9.3.3 Italy
  • 9.3.4 France
  • 9.3.5 Spain
  • 9.3.6 Rest of Europe
• 9.4 Asia Pacific
  • 9.4.1 Japan
  • 9.4.2 China
  • 9.4.3 India
  • 9.4.4 Australia
  • 9.4.5 New Zealand
  • 9.4.6 South Korea
  • 9.4.7 Rest of Asia Pacific
• 9.5 South America
  • 9.5.1 Argentina
  • 9.5.2 Brazil
  • 9.5.3 Chile
  • 9.5.4 Rest of South America
• 9.6 Middle East & Africa
  • 9.6.1 Saudi Arabia
  • 9.6.2 UAE
  • 9.6.3 Qatar
  • 9.6.4 South Africa
  • 9.6.5 Rest of Middle East & Africa

10 Key Developments

• 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 10.2 Acquisitions & Mergers
• 10.3 New Product Launch
• 10.4 Expansions
• 10.5 Other Key Strategies

11 Company Profiling

• 11.1 Emirates National Oil Company
• 11.2 Chevron Corporation
• 11.3 Marathon Petroleum Corporation
• 11.4 Abu Dhabi National Oil Company
• 11.5 Essar Oil Limited
• 11.6 Allied Aviation Services Inc
• 11.7 Exxon Mobil Corporation
• 11.8 Indian Oil Corporation Limited
• 11.9 Bharat Petroleum Corporation Limited
• 11.10 Hindustan Petroleum Corporation Limited
• 11.11 World Fuel Services Corporation
• 11.12 British Petroleum Fuel
• 11.13 Royal Dutch Shell plc
• 11.14 China Aviation Oil Corporation Ltd
• 11.15 Viva Energy Group
• 11.16 TotalEnergies SE
• 11.17 Valero Energy Corporation