Aviation fuel is a form of petroleum-based or kerosene-based fuel utilized to function an aircraft. Aviation fuel possesses better excellence than fuels utilized in other modes of transportation. They are introduced in dissimilar combinations of kerosene, kerosene-gasoline kerosene-biofuel, and several others. The fuels utilized in aviation lessen the risk of icing or explosion owing to great temperature, which is gained by integrating some additives such as corrosion inhibitors and several others. Aviation fuel is majorly utilized by most military aircraft and commercial airlines to augment fuel efficiency and to lower operational costs.
According to the report analysis, ‘Global Aviation Fuel Market, By Fuel Type (Jet A, Jet A1, Jet B, JP 5, JP 8, Avgas and Biofuels); By Aircraft Type (Fixed Wings, Rotocraft and Others); By End-users (Civil, Military, Private and Sports & Recreational); and Region – Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030’ states that the market is predicted to increase on the back of growing air passengers in emerging economies. The augment in requirement from military segments and an augment in air transportation are projected to be the major aspects adding to the market growth. New flight paths and fresh airports are also projected to boost the requirement for fuel, which will further propel aviation fuel market growth during the coming years.
Whereas, the market for aviation fuel is also sectored by aircraft form into Fixed Wings, Rotorcraft, and several others. The fixed wings sector is projected to control the largest market share of an effective % during the year 2019 as the piston and turbine engines are utilized in such aircraft, which demand fuel as the main source to introduce, lift and also propel the aircraft forward.
Although, the global aviation fuel market is sectored by end-users into Civil, Military, Private, and Sports & Recreational. Among such, the civil segment is projected to hold the greatest market share of an effective % during 2019, due to the large number of commercial airliners that offer passenger and freight transit services.
Not only has this, but the requirement for aviation fuel is also projected to augment significantly in the coming years due to the augment in airline passenger traffic. Moreover, enlarging middle class in the emerging region, diverging demographic outlooks, and liberalization of aviation markets are some of the foremost factors which are most probable to boost the growth of the market for aviation fuel.
Furthermore, the worldwide aviation fuel market is sectored based on regional analysis into five foremost regions. These comprise North America, Latin America, Europe, APAC, and MENA. Among such, the market around the Asia Pacific is projected to hold the largest market share of an effective % in the year 2019, due to an augment in investment by the government, introduction to fresh flight routes, augmented fleet sizes, and high requirement for fuel from emerging economies in the region. Therefore, in the near years, it is predicted that the market of aviation fuel will increase around the globe more effectively over the upcoming years.
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Ankur Gupta, Head Marketing & Communications