The
global aviation
fuel market is expected to display higher growth rate over the next
five years. Rapid surge in market is credited to the shifting tend towards air
travel, particularly in developing economies across the globe. Increasing
number of aircraft carriers and presence of large number of airline operators
are expected to drive the growth of the market over the forecast period.
Globally, market is predicted to generate massive revenue over next five years,
providing numerous opportunities for industry participants to invest in
research and development of aviation fuel market.
However,
rising crude oil prices coupled with growing competition in the market are key
challenges for industry growth to a certain extent. Yet, increasing adoption of
bio-fuel and renewable aviation fuel is expected to foster industry expansion
in the upcoming years. In addition, rise in air traffic and aircraft fleet in
both commercial and military applications is predicted to spur the growth of
aviation fuel market over the forecast period. Growing air cargo transportation
in size & volume is estimated to offer several growth prospects to industry
participants over the next seven years.
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Rising
freight traffic is the key market trend associated with aviation fuel industry,
in the past few years. Improved living standards coupled with rising per capita
income, particularly in the BRICS economies such as Brazil, Russia, India,
China and South Africa are major contributing factors for robust market growth.
Increasing air passengers each years, diverging demographic outlooks, and
liberalization of aviation markets are predicted to stimulate industry
expansion.
The
market is broadly categorized into two major segments based on the application
type such as aviation turbine fuel and aviation biofuel. Aviation turbine fuel
segment is growing rapidly in the market with substantial revenue generation in
the last few years. Growing demand for aviation turbine fuel segment is
attributed to the increasing use of gas-turbine engines to power aircrafts.
Aviation biofuel segment has also witnessed substantial growth due to the
favorable government initiatives to promote use of biofuels and rising cost of
crude oils.
The
market is divided by region as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rise in the implementation of latest technologies in oil & gas
sector, surge in number of research & development activities in the region
and existence of well-established industrial infrastructure. In European
region, Germany, France, and United Kingdom are projected to witness steady
growth due to increasing adoption of the bio-fuels and renewable fuels.
Market Segment:
This report focuses on the top
manufacturers' Aviation Fuel capacity, production, value, price and market
share of Aviation Fuel in global market. The following manufacturers are covered
in this report:
•
BP
•
Chevron
•
Exxon Mobil
•
Gazprom
•
Royal Dutch Shell
•
HPCL
Aviation Fuel Breakdown Data by Type
•
Solid Dye
•
Liquid Dye
Aviation Fuel Breakdown Data by Region
•
North America
•
United States
•
Canada
•
Mexico
•
Asia-Pacific
•
China
•
India
•
Japan
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