North America Aviation Fuel Market Size (2024 - 2029)

The North America aviation fuel market is experiencing a resurgence, having recovered to pre-pandemic levels after being adversely affected by COVID-19. The market's expansion is driven by an increase in air travel, fueled by lower airfare, improved economic conditions, and rising disposable incomes. Despite challenges posed by the fluctuating costs of aviation fuel, the market is poised for growth, with the United States maintaining a leading position in the region. This growth trajectory presents significant opportunities for market participants, as North America is expected to capture a substantial portion of the global air passenger increase.

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Market Size of North America Aviation Fuel Industry

North America Aviation Fuel Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 15.00 %
Market Concentration Low

Major Players

North America Aviation Fuel Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Aviation Fuel Market Analysis

The aviation fuel market in North America is anticipated to register a CAGR of more than 15% during the forecast period.

The market was negatively impacted by the outbreak of COVID-19 due to regional lockdowns and flight restrictions. Currently, the market has reached pre-pandemic levels.

  • The increasing number of air passengers, on account of the cheaper airfare in recent times, stronger economic conditions, and increasing disposable income, are among the major driving factors for the market.
  • However, the high and volatile cost of aviation fuel is expected to restrain the market.
  • The air passenger number is expected to touch 8.2 billion by 2037. North America is expected to hold a significant share in this, creating ample opportunities for market players.
  • The United States is leading the market in the North American region. With forecast growth, the United States is likely to continue its dominance.

North America Aviation Fuel Industry Segmentation

Aviation fuels are petroleum-based fuels or mixtures of petroleum and synthetic fuels that are used to power airplanes. They are subject to stricter regulations than fuels used for stationary purposes, such as heating and driving. They contain additives to improve or preserve characteristics vital to fuel management or performance.

The North American aviation fuel market is segmented by fuel type, application, and geography. By fuel type, the market is segmented into air turbine fuel, aviation biofuel, and AVGAS. By application, the market is segmented into commercial, defense, and general aviation. The report also covers the market size and forecasts for the Aviation fuels market across the major countries in the region. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).

Fuel Type
Air Turbine Fuel (ATF)
Aviation Biofuel
AVGAS
Application
Commercial
Defense
General Aviation
Geography
The United States
Canada
Rest of North America
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North America Aviation Fuel Market Size Summary

The North American aviation fuel market is poised for significant growth, driven by an increase in air travel due to more affordable airfare, robust economic conditions, and rising disposable incomes. The market has rebounded to pre-pandemic levels after the disruptions caused by COVID-19. The United States leads the region, with expectations to maintain its dominance, supported by the commercial aviation sector, which is the largest consumer of aviation fuel. This sector's demand is fueled by the rising number of passengers and cargo volumes, making it a key driver of market expansion. However, the market faces challenges from the high and fluctuating costs of aviation fuel, which could restrain growth.

The defense sector also plays a crucial role in the aviation fuel market, with significant consumption by the US Air Force and Navy. As defense budgets increase, the demand for aviation fuel is expected to rise, positively impacting the market. The general aviation sector, with a substantial number of aircraft in the United States, further contributes to the market's growth. The market is moderately fragmented, with major companies like Exxon Mobil, BP, and Shell playing significant roles. Initiatives such as sustainable aviation fuel agreements and government strategies to boost production and use of alternative fuels are also shaping the market landscape, indicating a shift towards more sustainable practices in the aviation fuel industry.

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North America Aviation Fuel Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Fuel Type

      1. 2.1.1 Air Turbine Fuel (ATF)

      2. 2.1.2 Aviation Biofuel

      3. 2.1.3 AVGAS

    2. 2.2 Application

      1. 2.2.1 Commercial

      2. 2.2.2 Defense

      3. 2.2.3 General Aviation

    3. 2.3 Geography

      1. 2.3.1 The United States

      2. 2.3.2 Canada

      3. 2.3.3 Rest of North America

North America Aviation Fuel Market Size FAQs

The North America Aviation Fuel Market is projected to register a CAGR of greater than 15% during the forecast period (2024-2029)

Chevron Corporation , Exxon Mobil Corporation , BP PLC , TotalEnergies SE and Shell Plc are the major companies operating in the North America Aviation Fuel Market.

North America Aviation Fuel Report Snapshots

North America Aviation Fuel Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)