Market Size of North America Commercial Aircraft Aviation Fuel Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 15.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Commercial Aircraft Aviation Fuel Market Analysis
The North American commercial aircraft aviation fuel market is expected to grow at a CAGR of more than 15% over the forecast period.
The market has been negatively impacted by the outbreak of COVID-19 due to regional lockdowns and flight restrictions. Currently, the market has reached pre-pandemic levels.
- Factors such as increasing air passenger traffic, increasing the number of low-cost carriers (LCC) across the region, and growing demand for air cargo transportation, are expected to drive the market over the forecast period.
- However, volatile crude oil and jet fuel prices are expected to restrain the target market.
- The commercial aviation industry aims to increase domestic renewable jet fuel supply to reduce carbon emissions. Thus, there is an increasing demand for alternatives, such as renewable aviation fuel, which will likely provide an opportunity in the near future.
- The United States is expected to dominate the North American commercial aircraft aviation fuel market over the forecast period.
North America Commercial Aircraft 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 commercial aviation fuel market is segmented by fuel type and geography. By fuel type, the market is segmented into air turbine fuel, aviation biofuel, and others. 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 | |
| Others |
| Geography | |
| The United States | |
| Canada | |
| Rest of North America |
North America Commercial Aircraft Aviation Fuel Market Size Summary
The North American commercial aircraft aviation fuel market is poised for significant growth, driven by factors such as increasing air passenger traffic, the rise of low-cost carriers, and a growing demand for air cargo transportation. The market has rebounded to pre-pandemic levels after the negative impact of COVID-19, and it is expected to continue expanding over the forecast period. However, the market faces challenges from volatile crude oil and jet fuel prices. The push towards reducing carbon emissions has led to a growing interest in renewable aviation fuels, presenting new opportunities for market players. The United States is anticipated to lead the market, supported by its robust air travel and cargo volume growth.
Aviation turbine fuel, particularly Jet A and Jet A1, remains the primary fuel types for commercial aircraft, with Jet A being predominantly used in the United States. The demand for jet fuel is influenced by factors such as increased air traffic, global economic conditions, and advancements in fuel efficiency. Ongoing developments, such as the eligibility of LanzaTech's ethanol-based ATJ-SPK for blending with standard Jet A, are expected to boost Jet A fuel demand. The market is moderately fragmented, with key players including Chevron Corporation, World Fuel Services Corp, Total S.A., Vitol Holding BV, and Royal Dutch Shell Plc. Initiatives like the production of sustainable aviation fuel from waste and recycled materials are also shaping the market landscape.
North America Commercial Aircraft Aviation Fuel Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Fuel Type
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2.1.1 Air Turbine Fuel (ATF)
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2.1.2 Aviation Biofuel
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2.1.3 Others
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2.2 Geography
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2.2.1 The United States
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2.2.2 Canada
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2.2.3 Rest of North America
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North America Commercial Aircraft Aviation Fuel Market Size FAQs
What is the current North America Commercial Aircraft Aviation Fuel Market size?
The North America Commercial Aircraft Aviation Fuel Market is projected to register a CAGR of greater than 15% during the forecast period (2024-2029)
Who are the key players in North America Commercial Aircraft Aviation Fuel Market?
Chevron Corporation, World Fuel Services Corp , Vitol Holding BV , Shell PLC and TotalEnergies SE are the major companies operating in the North America Commercial Aircraft Aviation Fuel Market.
