Aviation Fuel Market Report 2024 (Global Edition)

Global Aviation Fuel Market Report 2024 Market Size Split by Fuel Type (Jet A, Jet A1, Jet B, JP 5, JP 8, Avgas, Biofuel), by Aircraft Type (Fixed Wings, Rotorcraft, Others), by Equipment (Civil, Mili...

Aviation Fuel Market Report Description

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Aviation Fuel Market Insights Video

Competitive Landscape of the Aviation Fuel Market

The competitive landscape of the aviation fuel market is dominated by major oil and energy companies such as Shell, ExxonMobil, BP, and Total. These companies are engaged in fuel production, refining, distribution, and supply chain operations globally. Additionally, there are regional players and independent fuel suppliers catering to specific markets. Collaboration between fuel suppliers, airlines, and regulatory bodies is common to ensure compliance with safety standards and environmental regulations while striving for market competitiveness and profitability.

February 2023: Boeing has finalized deals to purchase 5.6 million gallons (21.2 million liters) of blended sustainable aviation fuel (SAF) from Neste, a leading global SAF producer. This acquisition is intended to bolster Boeing's U.S. commercial activities until 2023. These agreements represent a substantial rise, doubling the company's SAF acquisition compared to the preceding year.

(Source: https://investors.boeing.com/investors/news/press-release-details/2023/Boeing-Doubles-Sustainable-Aviation-Fuel-Purchase-for-Commercial-Operations-Buying-5.6-Million-Gallons-for-2023/default.aspx )

Top Companies Market Share in Aviation Fuel Industry: (In no particular order of Rank)

• Shell (Netherlands)
• ExxonMobil (United States)
• BP (United Kingdom)
• Chevron (United States)
• Total (France)
• Gazprom (Russia)
• Lufthansa Aviation Fuel Supply (Germany)
• Avfuel Corporation (United States)
• World Fuel Services Corporation (United States)
• Air BP (United Kingdom)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Aviation Fuel Market

Which Region Dominates the Aviation Fuel Market in 2024?

According to Cognitive Market Research, North America dominates the aviation fuel market due to several factors. The region boasts a vast aviation industry, including major airlines, cargo carriers, and private jet operators. Additionally, North America has a dense network of airports, supporting extensive air travel and cargo transportation. Strong economic growth, technological advancements, and regulatory initiatives promoting fuel efficiency further contribute to the region's dominance. Moreover, the presence of major oil companies and leading suppliers enhances North America's position as a key player in the aviation fuel market.

Which Region is Expanding at the Fastest CAGR?

The Asia Pacific region is experiencing the fastest compound annual growth rate (CAGR) in the aviation fuel market due to several factors. Rapid economic development, urbanization, and a burgeoning middle class have led to increased air travel demand in countries like China, India, and Southeast Asian nations. Furthermore, expanding airline fleets, rising tourism, and infrastructure development initiatives support the growth of the aviation industry in the region. These factors combined contribute to the Asia Pacific region's accelerated growth in the aviation fuel market.

 

The current report Scope analyzes Aviation Fuel Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Aviation Fuel

According to Cognitive Market Research, the global Aviation Fuel market size was estimated at USD 251484.20 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 100593.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.4% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Aviation Fuel market with a market size of USD 79368.41 million in 2024 and is projected to grow at a CAGR of 12.2% during the forecast period. The demand is amplified by the nation's Strong economic growth.
• The Canada Aviation Fuel market had a market share of USD 12071.24 million in 2024 and is projected to grow at a CAGR of 13.2% during the forecast period. This is due to technological advancements.
• The Mexico Aviation Fuel market is projected to witness growth at a CAGR of 12.9% during the forecast period, with a market size of USD 9154.02 million in 2024.

Europe Aviation Fuel

According to Cognitive Market Research, the global Aviation Fuel market size was estimated at USD 251484.20 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 75445.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.7% from 2024 to 2031.

• The United Kingdom Aviation Fuel market had a market share of USD 12674.80 million in 2024 and is projected to grow at a CAGR of 13.5% during the forecast period. In the UK, Aviation Fuel sales witness an upswing due to the nation's technological advancements in fuel efficiency.
• The France Aviation Fuel market is projected to witness growth at a CAGR of 11.9% during the forecast period, with a market size of USD 6940.96 million in 2024.
• According to Cognitive Market Research, the Germany Aviation Fuel market size was valued at USD 14938.16 million in 2024 and is projected to grow at a CAGR of 12.9% during the forecast period. In Germany, Aviation Fuel sales surged due to growing emphasis on reducing carbon emissions.
• The Italy Aviation Fuel market is projected to witness growth at a CAGR of 12.1% during the forecast period, with a market size of USD 6488.29 million in 2024.
• The Russia Aviation Fuel market is projected to witness growth at a CAGR of 11.7% during the forecast period, with a market size of USD 11694.02 million in 2024.
• The Spain Aviation Fuel market is projected to witness growth at a CAGR of 11.8% during the forecast period with a market size of USD 6186.51 million in 2024
• The Luxembourg Aviation Fuel market is projected to witness growth at a CAGR of 12.8% during the forecast period, with a market size of USD 2338.80 million in 2024.
• The Portugal Aviation Fuel market is projected to witness growth at a CAGR of 12.5% during the forecast period, with a market size of USD 1584.35 million in 2024.
• The Greece Aviation Fuel market is projected to witness growth at a CAGR of 13.0% during the forecast period, with a market size of USD 905.34 million in 2024.
• Rest of Europe's Aviation Fuel market is projected to witness growth at a CAGR of 11.4% during the forecast period, with a market size of USD 11694.02 million in 2024.

Asia Pacific Aviation Fuel

According to Cognitive Market Research, the global Aviation Fuel market size was estimated at USD 251484.20 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 57841.37 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.2% from 2024 to 2031.

• According to Cognitive Market Research, the China Aviation Fuel market size was valued at USD 26028.61 million in 2024 and is projected to grow at a CAGR of 15.7% during the forecast period. Aviation Fuel sales surge in China due to region's strategic location as a hub for international trade.
• The Japan Aviation Fuel market is projected to witness growth at a CAGR of 14.7% during the forecast period, with a market size of USD 7982.11 million in 2024.
• The India Aviation Fuel market had a market share of USD 6940.96 million in 2024 and is projected to grow at a CAGR of 18.0% during the forecast period. This is due to infrastructure development initiatives.
• The South Korea Aviation Fuel market is projected to witness growth at a CAGR of 15.3% during the forecast period, with a market size of USD 5784.14 million in 2024.
• The Australia Aviation Fuel market is projected to witness growth at a CAGR of 15.9% during the forecast period, with a market size of USD 3007.75 million in 2024.
• The South East Asia Aviation Fuel market is projected to witness growth at a CAGR of 17.2% during the forecast period, with a market size of USD 3991.05 million in 2024.
• The Rest of Asia Pacific Aviation Fuel market is projected to witness growth at a CAGR of 16.0% during the forecast period, with a market size of USD 4106.74 million in 2024.

South America Aviation Fuel

According to Cognitive Market Research, the global Aviation Fuel market size was estimated at USD 251484.20 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 12574.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Aviation Fuel market size was valued at USD 5381.76 million in 2024 and is projected to grow at a CAGR of 14.2% during the forecast period. Aviation Fuel sales flourish in Brazil due to region's expanding tourism industry.
• Argentina Aviation Fuel market had a market share of USD 2112.47 million in 2024 and is projected to grow at a CAGR of 14.5% during the forecast period. This is due to increased air travel demand.
• Colombia Aviation Fuel market is projected to witness growth at a CAGR of 13.4% during the forecast period with a market size of USD 1119.10 million in 2024.
• Peru Aviation Fuel market is projected to witness growth at a CAGR of 13.8% during the forecast period with a market size of USD 1031.09 million in 2024.
• Chile Aviation Fuel market is projected to witness growth at a CAGR of 13.9% during the forecast period with a market size of USD 905.34 million in 2024.
• The Rest of Latin America Aviation Fuel market is projected to witness growth at a CAGR of 12.7% during the forecast period, with a market size of USD 2024.45 million in 2024.

Middle East and Africa Aviation Fuel

According to Cognitive Market Research, the global Aviation Fuel market size was estimated at USD 251484.20 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 5029.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2031.

• The GCC Countries Aviation Fuel market is projected to witness growth at a CAGR of 14.7% during the forecast period with a market size of USD 2152.70 million in 2024. Aviation Fuel sales flourish due to region serves as a global aviation hub.
• The Egypt Aviation Fuel market is projected to witness growth at a CAGR of 14.2% during the forecast period, with a market size of USD 528.12 million in 2024.
• The South Africa Aviation Fuel market is projected to witness growth at a CAGR of 14.9% during the forecast period, with a market size of USD 794.69 million in 2024. Aviation Fuel sales flourish in South Africa due to increasing air travel demand.
• The Turkey Aviation Fuel market is projected to witness growth at a CAGR of 13.4% during the forecast period, with a market size of USD 432.55 million in 2024.
• The Nigeria Aviation Fuel market is projected to witness growth at a CAGR of 13.0% during the forecast period, with a market size of USD 528.12 million in 2024.
• The Rest of MEA Aviation Fuel market is projected to witness growth at a CAGR of 12.9% during the forecast period, with a market size of USD 593.50 million in 2024.

Aviation Fuel Market Analysis

How are Segments Performing in the Global Aviation Fuel Market?

Aviation Fuel Market Fuel Type Segment Analysis

According to Cognitive Market Research, Jet A stands out as the dominating category. Jet A fuel has secured the largest market share in the aviation fuel market due to its widespread usage across commercial aviation. It is the standard fuel for turbine-engine aircraft, including most commercial airliners and cargo planes. Jet A fuel offers high energy density, efficient combustion characteristics, and compatibility with a wide range of aircraft engines. Additionally, its availability and consistent quality make it the preferred choice for airlines worldwide, contributing to its dominance in the aviation fuel market.

Jet A1 fuel is experiencing the highest compound annual growth rate (CAGR) in the aviation fuel market due to several factors. It offers similar properties to Jet A fuel but with a lower freezing point, making it suitable for use in colder climates and at higher altitudes. As air travel expands to include more diverse routes and destinations, the demand for Jet A1 fuel, particularly in regions with harsher weather conditions, is increasing rapidly, driving its high CAGR in the aviation fuel market.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Aviation Fuel Industry. Request a Free Sample PDF!

Aviation Fuel Market Aircraft Type Segment Analysis

According to Cognitive Market Research, the dominating category is Fixed Wings. Fixed-wing aircraft have secured the largest market share in the aviation fuel market due to their widespread use across various sectors, including commercial aviation, cargo transportation, and general aviation. Fixed-wing aircraft offer efficient and long-range capabilities, making them the preferred choice for air travel, freight transport, and aerial missions. Their versatility, reliability, and capacity for transporting passengers and cargo contribute to their dominance in the aviation fuel market, resulting in the largest market share among aircraft types.

Rotorcraft aircraft are experiencing the highest compound annual growth rate (CAGR) in the aviation fuel market due to several factors. These aircraft offer unique capabilities, including vertical takeoff and landing (VTOL) and hover capabilities, making them essential for applications such as emergency medical services, search and rescue, and military operations. As demand grows for rotorcraft in both civil and military sectors, the consumption of aviation fuel for these specialized aircraft is increasing, driving their high CAGR in the market.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Aviation Fuel Equipment Segment Analysis

End User Segment Analysis

According to Cognitive Market Research, the dominating category is Civil. Civil end users have captured the largest market share in the aviation fuel market due to the extensive use of aviation fuel in commercial air transportation. Civil aviation encompasses passenger airlines, cargo carriers, private aviation, and other non-military aviation activities. The high volume of flights, large fleets, and widespread passenger demand contribute to the significant consumption of aviation fuel by civil end users. Their dominance in the market is further reinforced by the global scale of commercial air travel operations.

The military end user segment is experiencing the highest compound annual growth rate (CAGR) in the aviation fuel market due to increased defense spending, modernization initiatives, and geopolitical tensions driving military air operations. Military aircraft require substantial amounts of aviation fuel for training, exercises, operations, and logistical support. Additionally, advancements in military aviation technologies, such as unmanned aerial vehicles (UAVs) and combat aircraft, contribute to the rising demand for aviation fuel among military end users, resulting in the segment's high CAGR.

• Civil
• Military
• Private
• Sports & Recreational

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Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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