Pune, Aug. 13, 2020 (GLOBE NEWSWIRE) -- The global aviation gasoline market size expected to gain momentum by exhibiting a CAGR of 4.2% between 2020 and 2027. This is attributable to the increasing demand for small aircraft and the growing leisure air sports activities across the globe. This information is published in the latest report, titled, “Aviation Gasoline (Avgas) Market Size, Share & COVID-19 Impact Analysis, By End-User (Private, Commercial, and Military), and Regional Forecasts, 2020-2027.” The report further observes that the market was worth USD 1.78 billion in 2019 and is likely to reach USD 1.91 billion by 2027.



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Travel Restrictions amid COVID-19 to Hamper Growth

The outbreak of the COVID-19 pandemic has led to the stringent imposition of travel ban by the federal agencies across the globe. Owing to the travel ban, several flights have been suspended leading to lesser demand for aviation gasoline. However, once the travel ban gets removed and the flights start commencing their operations, the market is expected to return to normalcy.

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Aviation gasoline or avgas is primarily an aviation fuel that propels an aircraft’s spark-ignited internal-combustion engine. It has a rich mixture octane rating of about 130 that enables it to posses high supercharge boost pressures. It can be used without the fear of an occurrence of detonation within the engine. Additionally, only the 100LL avgas variety is available for consumption across the globe. This aviation fuel is largely adopted in small-sized and old piston engines of aircraft.

What does the Report Include?

The market report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides a comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027. 

DRIVING FACTORS:

Growing Demand for Small Aircraft & Sports Activities to Promote Growth

According to the General Aviation Manufacturers Association, in 2018, about 1302 numbers of piston based aircraft were sold, as compared to 1218 in 2017. The growing demand for small piston aircraft for several sports activities such as aerobatics, air racing, gliding, and other activities is set to drive the demand for aviation gasoline in the coming years. Additionally, the increasing demand for aviation aircraft for business purposes by the growing number of high-net worth individuals is expected to contribute to the growth of the global aviation gasoline market in the forthcoming years.



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SEGMENTATION:

Private Segment Held a Share of 56.3% Backed by Rising Number of High-net Worth Individuals

The segment private, based on end-user, held a share of 56.3% in 2019 and is expected to experience an augmented growth owing to the increasing number of high-net worth individuals and ultra-high net worth individual in the forthcoming years.

REGIONAL INSIGHTS

North America to Remain at the Forefront; Growing Number of Air Travelers to Propel Demand

Among all regions, the market in North America was worth USD 0.94 billion in 2019 and is likely to showcase a significant growth by dominating the global aviation gasoline market during the forecast period. This is attributable to the increasing number of air travelers in the region. Asia-Pacific, on the other hand, is expected to hold the second position and showcase a considerable growth in the forthcoming years. This is ascribable to the increasing focus on manufacturing large number of aircraft by the companies in countries such as China and Australia between 2020 and 2027.

COMPETITIVE LANDSCAPE:

Contract Signing by Major Companies to Strengthen Position

The global aviation gasoline market report observes that the market is highly consolidated with the presence of several major companies such as ExxonMobil and Shell. These companies are signing new contracts and expanding the aviation gasoline application to strengthen their positions during the forecast period. The other key players in the market are adopting strategies such as partnership, introduction of new product, and collaboration to gain a major chunk of the market in terms of revenue during the forecast period.

Industry Development:

  • July 2020: SEI Industries announced the launch of a new multi-fuel model of Bulk Aviation Transport Tank (BATT). According to the company, the multi-fuel tank is a total fuel transport system that allows operators to switch between diesel, flying jet, and aviation gasoline as per the requirement of the aircraft.


List of the Leading Companies Operating in the Aviation Gasoline (Avgas) Market are:

  • ExxonMobil  (U.S.)
  • Shell (Netherlands)
  • BP Plc (U.K)
  • Total (France)
  • Vitol Group (U.K)
  • Phillips 66 (U.S.)
  • Repsol (Spain)
  • Indian Oil Corporation Limited (India)
  • Naftal (Algeria)
  • Hjelmco Oil AB (Sweden)


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Detailed Table of Content

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Emerging Trends – For Major Countries
    • Key Developments: Merger & Acquisition, Partnership, etc.
    • Latest Technological Advancement
    • Regulatory Landscape
    • Porters Five Forces Analysis
  • Qualitative Analysis – Impact of COVID-19
    • Impact of COVID-19 on the Aviation Fuel Market
      • Crude Oil Dynamics
        • Demand-Supply Gap Analysis
        • Impact pc Crude Oil Price and Short-term Forecast
      • Aviation Fuel Dynamics
        • Impact on Current Demand for ATF and Short-term Forecast
        • Current Price and Short-term Forecast
    • Steps Taken by the Government to Overcome the Impact
      • Airline Stimulus Plans by Major Countries
    • Key Developments by the Industry Players in Response to COVID-19
    • Potential Opportunities and Challenges due to COVID-19 Outbreak
  • Global Aviation Gasoline (Avgas) Market Analysis (USD Billion) (Thousand Tons), Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By End-User
      • Private
      • Commercial
      • Military
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East & Africa

TOC Continued..!!!



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