Pune, June 16, 2020 (GLOBE NEWSWIRE) -- The global aviation fuel market size is predicted to reach USD 450 billion by 2026, exhibiting a CAGR of 5.22% during the forecast period. The increasing defense budget of many nations will subsequently enhance the growth of the market during the forecast period, states Fortune Business Insights, in a report, titled “Aviation Fuel Market Size, Share and Industry Analysis By Fuel (Jet Fuel (Aviation Turbine Fuel), Avgas, Bio Jet Fuel), By End User (Commercial, Private, Military) And Regional Forecast 2019-2026” the market size stood at USD 300 billion in 2018.
The aviation fuel market report includes:
- Market drivers, latest industry trends and market restraints
- In-depth Analysis of COVID-19 effect on the market
- strategies of companies and competitors
- historical and current market figures
- Regional data in terms of revenue
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An Overview of the Impact of COVID-19 on this Market:
The whole world is battling with the novel coronavirus. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
To get to know more about the short-term and long-term impacts of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/aviation-fuel-market-100427
Market Driver:
Rising Air Passenger Traffic to Stimulate Market Expansion
The commercial airline sector is predicted to account for the largest share in the global market during the forecast period owing to the rapid economic development. The rising air traffic and massive investment in airport infrastructure are factors predicted to bolster the healthy growth of the market. The increased per capita income in the emerging nations along with high inclination towards air travel will consequently enable the growth of the market. The improvement in the production of aviation fuel and demand for logistics will foster the growth of the market. The market is driven by the ongoing advancement in air connectivity. Moreover, the rapid urbanization and boom in the tourism industry will contribute positively to the growth of the market. The rising demand for aviation turbine fuel (ATF) or jet fuel for powering jet and turbo-propelled engine aircraft will favor the healthy growth of the market. The two primary grades of aviation fuel used in commercial airlines include Jet A1 and Jet A. In addition, the improvement in aircraft fuel-burning efficiency with low emission will spur opportunities for the market.
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Regional Analysis:
Enormous Investment in Communication Technologies to Influence growth in North America
The market in North America is predicted to witness a substantial growth rate during the forecast period. The growth in the region is attributed to the high aviation fuel consumption in the US and Canada. The robust infrastructure development along with enormous investment in information & communication technology will foster healthy growth of the market during the forecast period. The surge in manufacturing units and improved business channels will aid expansion in North America. The growing tourists and tourism in the US will offer impetus growth to the industry in North America. The market in Asia Pacific is predicted to rise tremendously owing to the huge potential for the aviation industry in emerging nations such as China, India, Japan. The booming hospitality and tourism industry in the region will have an excellent effect on the market in Asia Pacific. However, the occurrence of coronavirus will negatively impact the market during the forecast period.
Key Development:
June 2019: Boeing signed an agreement with RSB with an investment of USD 1Mn for sustainable aviation fuel in Brazil.
October 2018: The Indian government announced the reduction in excise duty on aviation fuels from 14% to 11%.
List of the Key Companies Operating in the Aviation Gasoline Market are:
- Total
- ExxonMobil
- Chevron
- British Petroleum (BP)
- Shell
- Gazprom
- Vitol
- World Fuel Services
- Mercury Air Group
- China Aviation Oil
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Detailed Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Key Industry Developments
- Regulatory Landscape
- Porters Five Forces Analysis
- Global Aviation Fuel Market Analysis (US$ Mn, Thousand Tonnes), Insights and Forecast, 2015-2026
- Key Findings
- Market Analysis, Insights and Forecast – By Fuel
- Jet Fuel (ATF)
- Avgas
- Bio Jet Fuel
- Market Analysis, Insights and Forecast – By End-User
- Commercial
- Private
- Military
- Market Analysis, Insights and Forecast – By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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