Global Jet Fuel Market Segments 2024, Forecast To 2033
5 Mar, 2024
The jet fuel market has displayed strong growth, escalating from $195.98 billion in 2023 to $205.95 billion in 2024, with a 5.1% CAGR. This growth is attributed to commercial aviation expansion and geopolitical factors. Steady growth is expected, reaching $249.19 billion in 2028, with a projected 4.9% CAGR. Factors include the transition to sustainable aviation fuel, evolving industry regulations, and research in electric aviation. Major trends in 2028 include renewable aviation fuel initiatives, regulatory emissions standards, and the development of electric aviation.
Global Jet Fuel Market Key Driver
The jet fuel market is witnessing growth driven by the surge in air passengers globally. Favorable trends in globalization have led to increased air travel. In 2022, the International Air Transport Association reported a 64.4% increase in total air traffic over 2021, propelling the demand for jet fuel.
Get A Free Sample Of The Global Jet Fuel Market ReportGlobal Jet Fuel Market Segments
The jet fuel market covered in this report is segmented –
1) By Fuel Type: Conventional Fuel-Air Turbine Fuel, Avgas, Sustainable Fuel-Biofuel, Power-To-Liquid, Gas-To-Liquid
2) By Fuel Grade: Jet A, Jet A1, Jet B, TS-1
3) By Aircraft Type: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicle
4) By Application: Commercial, Defense, General Aviation, Private
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the jet fuel market in 2023. The regions covered in the jet fuel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Jet Fuel Industry Players
Exxon Mobil Corporation; BP plc; Chevron Corporation; Valero Energy Corporation; Shell plc; TotalEnergies SE; Gazprom Neft PJSC; Indian Oil Corporation; Bharat Petroleum Corp. Ltd.; Honeywell International Inc.; World Fuel Service Corp.; Neste Oyj; World Energy LLC; Rosneft Deutschland GmbH; China Aviation Oil Corporation Ltd.; Qatar Jet Fuel Company; Allied Aviation Services Inc.; Sinopec Corp.; Oman Oil Company SAOC; Marathon Petroleum Corporation; Royal Dutch Shell plc; Hess Corporation; Holiday Stationstores Inc.; Petroleum Brands International; National Refinery Limited; CNOOC Limited; Fuchs Lubricants; Singapore Airlines Ltd.; Lufthansa AG; Etihad Airways
Get The Full Global Jet Fuel Market ReportAIOps Jet Fuel Market Overview
Jet fuel is one of the important petroleum products produced from crude oil and processed in petroleum refineries. Jet fuel is mainly used in the transportation sector. Specifically, jet fuel is used in aircraft. The same jet fuel, of lower quality, is sold as kerosene for non-aircraft purposes.
Jet Fuel Global Market Report 2023 provides data on the global jet fuel market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The jet fuel market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.