Aviation Fuel Market Size (2024 - 2029)

The aviation fuel market is projected to experience significant growth over the forecast period, driven by rising air travel demand and an expanding fleet of aircraft. Despite potential challenges posed by environmental concerns related to air pollution, advancements in sustainable aviation fuel technology are anticipated to offer substantial opportunities for market expansion. The Asia-Pacific region is expected to lead in market dominance due to its increasing air travel and aircraft numbers.

Market Size of Aviation Fuel Industry

Aviation Fuel Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 197.42 Billion
Market Size (2029) USD 281.96 Billion
CAGR (2024 - 2029) 7.39 %
Fastest Growing Market Asia Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Aviation Fuel Market Major Players

*Disclaimer: Major Players sorted in no particular order

Aviation Fuel Market Analysis

The Aviation Fuel Market size is estimated at USD 197.42 billion in 2024, and is expected to reach USD 281.96 billion by 2029, growing at a CAGR of 7.39% during the forecast period (2024-2029).

  • Over the medium term, the increasing demand for air travel and an increasing fleet of aircraft is expected to drive the market during the forecasted period.
  • On the other hand, the increasing environmental concerns for air pollution are expected to hinder the growth of the market during the forecasted period.
  • Nevertheless, the increasing advancements in sustainable aviation fuel technology are expected to create huge opportunities for the aviation fuel market.
  • Asia-Pacific is expected to be a dominant aviation fuel market region due to the increasing air travel and aircraft fleets in the region.

Aviation Fuel Industry Segmentation

Aviation fuel, also known as aviation gasoline (avgas) or jet fuel, is a specialized type of fuel specifically formulated for use in aircraft. It is a highly refined petroleum product designed to meet aircraft engines' specific requirements and performance characteristics.

The aviation fuel market is segmented based on fuel type, end-user, and geography. By fuel type, the market is segmented into aviation turbine fuel (jetA, jetA-1, and jetB), aviation biofuel, and AVGAS. By end-user, the market is segmented into commercial, defense, and general aviation. The report also covers the market size and forecasts for the aviation fuel market across major regions. The report offers the market size in value terms in USD for all the abovementioned segments.

Fuel Type
Air Turbine Fuel
Jet A-1
Jet A
Jet B
Aviation Biofuel
AVGAS
End-User
Commercial
Defence
General Aviation
Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)})
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
South America
Brazil
Argentina
Chile
Rest of South America
Middle-East and Africa
Saudi Arabia
United Arab Emirates
Egypt
South Africa
Rest of Middle-East and Africa
Need A Different Region Or Segment?
Customize Now

Aviation Fuel Market Size Summary

The aviation fuel market is poised for significant growth over the forecast period, driven by the increasing demand for air travel and the expansion of aircraft fleets. This growth is expected despite challenges posed by environmental concerns related to air pollution. However, advancements in sustainable aviation fuel technology are anticipated to offer substantial opportunities, potentially offsetting some of the environmental challenges. The Asia-Pacific region is projected to be a dominant player in the market, fueled by robust economic growth, urbanization, and a burgeoning middle-class population, all of which contribute to rising air travel demand and, consequently, higher aviation fuel consumption.

Aviation turbine fuel, commonly known as jet fuel, remains the primary energy source for various aircraft, including commercial airliners, military, and business jets. Its high energy density makes it ideal for long-haul flights and larger aircraft, ensuring its continued dominance in the market. The Asia-Pacific region's flourishing airline industry, rapid urbanization, and the rise of low-cost carriers further bolster the region's market position. Additionally, significant investments in airport infrastructure development across the region create favorable conditions for increased air traffic and fuel consumption. Major industry players, including ExxonMobil, Chevron, Shell, TotalEnergies, and BP, continue to influence the market landscape, with ongoing developments in sustainable aviation fuel production and procurement.

Explore More

Aviation Fuel Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Increasing Air Travel Demand

        2. 1.5.1.2 Expanding Airline Fleet

      2. 1.5.2 Restraints

        1. 1.5.2.1 Volatile Crude Oil Prices

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Fuel Type

      1. 2.1.1 Air Turbine Fuel

        1. 2.1.1.1 Jet A-1

        2. 2.1.1.2 Jet A

        3. 2.1.1.3 Jet B

      2. 2.1.2 Aviation Biofuel

      3. 2.1.3 AVGAS

    2. 2.2 End-User

      1. 2.2.1 Commercial

      2. 2.2.2 Defence

      3. 2.2.3 General Aviation

    3. 2.3 Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)})

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Russia

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Chile

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 United Arab Emirates

        3. 2.3.5.3 Egypt

        4. 2.3.5.4 South Africa

        5. 2.3.5.5 Rest of Middle-East and Africa

Aviation Fuel Market Size FAQs

The Aviation Fuel Market size is expected to reach USD 197.42 billion in 2024 and grow at a CAGR of 7.39% to reach USD 281.96 billion by 2029.

In 2024, the Aviation Fuel Market size is expected to reach USD 197.42 billion.

Aviation Fuel Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)