Oct 23, 2020   SOURCE: BusinessWire

Outlook on the Aviation Fuel Global Market to 2025 - by Fuel Type, Aircraft Type, End-user and Geography - ResearchAndMarkets.com

The "Global Aviation Fuel Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.

Global aviation fuel market was valued at US$178.560 billion in 2019 and is expected to grow at a CAGR of 6.00% over the forecast period to reach a total market size of US$253.261 billion in 2025.

Aviation fuel is a type of kerosene-based fuel which is used to operate an aircraft. Aviation fuels reduce the risk of icing or explosion due to high temperature and is primarily used by military aircrafts as well as commercial airlines in order to maximize fuel efficiency while lowering down the operational cost.

Growing global travel and tourism industry

Booming travel and tourism industry is one of the major drivers of global aviation fuel market. According to the United Nations World Tourism Organization (UNWTO), international tourist arrivals grew 5 per cent in 2018, reaching the figure to 1.4 billion which was reached two years ahead of the UNWTO forecast. This high growth in the number of international tourists is significantly driven by a relatively strong global economy with expanding middle class population base in emerging economies, new business models, technological advances, and affordable travel costs and visa facilitation. In conjunction to this, export earnings generated by tourism also increased to US$1.7 trillion in 2018, thus making the sector a true global force for economic growth and development by way of creating more and more employment. With growing number of air travel passengers worldwide, the demand for commercial aircrafts is also rising among different airlines.

Severe impact of COVID-19 on global aviation industry

The recent pandemic outbreak caused by COVID-19 has negatively impacted almost each and every industry including automotive and construction. However, the global travel and tourism industry has been hit the hardest by this pandemic. The novel coronavirus disease, which broke out in Wuhan, China, in the beginning of 2020, and then continued to spread like a wild fire throughout the globe, pushed governments to impose nationwide lockdowns and close national borders in order to contain the spread of the pandemic. The duration of the pandemic is still uncertain, and since inability of governments to contain the spread can increase the burden of this disease significantly, air travel remains restricted. A steep decline in the number of commercial flights across the globe has been driving down the demand for aviation fuel.

Although some airline carriers continue to operate while ensuring compliance to strict guidelines from governments, it is not enough to recoup the slump. Reluctance of people towards air travel, on account of high degree of fear of contracting the disease, is also limiting the number of flights per month. This trend is expected to continue till the time the world has at least one reliable vaccine or cure for the virus.

Companies Mentioned

  • Shell
  • Neste
  • Total
  • BP
  • Chevron Corporation
  • Exxon Mobil Corporation
  • Gazprom Neft PJSC
  • Mabanaft GmbH & Co. KG
  • VARO
  • Global Partners LP
  • Lukoil

Key Topics Covered:

1. Introduction

1.1. Market Definition

1.2. Market Segmentation

2. Research Methodology

2.1. Research Data

2.2. Assumptions

3. Executive Summary

3.1. Research Highlights

4. Market Dynamics

4.1. Market Drivers

4.2. Market Restraints

4.3. Market Opportunities

4.4. Porters Five Forces Analysis

4.5. Industry Value Chain Analysis

4.6. Market Attractiveness

5. Global Aviation Fuel Market Analysis, By Fuel Type

5.1. Introduction

5.2. Jet Fuel

5.3. Biofuel

6. Global Aviation Fuel Market Analysis, By Aircraft Type

6.1. Introduction

6.2. Fixed Wing

6.3. Rotorcraft

7. Global Aviation Fuel Market Analysis, By End User

7.1. Introduction

7.2. Military

7.3. Commercial

7.4. Private

7.5. Sports and Recreational

8. Global Aviation Fuel Market Analysis, By Geography

8.1. Introduction

8.2. North America

8.3. South America

8.4. Europe

8.5. Middle East and Africa

8.6. Asia Pacific

9. Competitive Environment and Analysis

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/xownqd