Portland, OR, June 17, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global aviation fuel market generated $179.2 billion in 2018, and is estimated to reach $238.5 billion by 2026, registering a CAGR of 3.5% from 2019 to 2026. The report offers an extensive analysis of changing market trends, top winning strategies, business performance, Porter’s Five Forces, and competitive landscape.

Surge in demand for aviation fuel from the military sector and rise in air transportation across the globe drive the global aviation fuel market. However, fluctuations in the prices of crude oil restrain the market growth. On the other hand, adoption of biofuels for aviation to reduce the pollution is expected to create new opportunities in the coming years.

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Covid-19 scenario:

  • The Covid-19 pandemic has adversely affected the aviation industry. On the other hand, the restrictions on travel and tourism amid lockdown have decreased the demand for aviation fuel.
  • According to the International Air Transport Association, there is decline in the revenue of about $63 to $113 billion in the airline industry during the global lockdown.

The report offers a detailed segmentation of the global aviation fuel market based on fuel type, aircraft type, end user, and region.

Based on fuel type, the Jet A1 segment contributed to the largest share in 2018, accounting for around one-third of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, the same segment is expected to register the highest CAGR of 3.8% from 2019 to 2026. The research also analyzes segments including Jet A, Jet B, JP 5, JP 8, avgas, and biofuels.

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Based on aircraft type, the fixed wing segment accounted for the largest share in 2018, holding more than three-fourths of the total share, and is expected to maintain the largest share throughout the forecast period. Moreover, the same segment is estimated to portray the highest CAGR of 3.6% during the forecast period. The report also analyzes segments such as rotorcraft and others.

Based on region, North America contributed the highest share, accounting for nearly two-fifths of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 4.3% from 2019 to 2026.

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Leading market players analyzed in the research include Petrobras, Royal Dutch Shell plc, Sinopec Group, Total SA, Oman Oil Company SAOC., Bp p.l.c., Chevron Corporation, Exxon Mobil Corporation, Gazprom, and Indian Oil Corporation Limited.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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