The market is predicted to suffer since low-income nations might not be able to pay the exorbitant airfares brought on by these factors. Asia Pacific and Africa are two of the price-sensitive regions. Due to their lower per capita incomes, developing countries in the region are unable to purchase pricey tickets.
Competitive Landscape
ExxonMobil is expected to generate USD 339.9 billion in 2024, followed by Chevron with USD 194.7 billion, Total with USD 210.2 billion, Shell with USD 302 billion, and Reliance Petroleum with USD 15.7 million. These are the top five companies in the aviation fuel industry. Each business contributes to the growth of the regional aviation fuel sector.
ExxonMobil, Shell, Chevron, and Total are the industry leaders in aviation fuel, working tirelessly to supply jet fuel to airlines worldwide. Those airlines have some refinishing and distribution capabilities to guarantee product quality. These businesses follow safety and fuel performance regulations and operate across several regions. British Airways, Eastern Canadian Airlines, and Australian Airlines Corporations all maintain efficient fuel emissions carbon consumption to help lower carbon emissions.
The major players in the Aviation Fuel industry include,
- Neste Corporation
- Exxon Mobil Corporation
- Chevron Corporation
- BP plc
- Shell plc
- TotalEnergies SE
- Indian Oil Corporation Ltd.
- Valero Energy Corporation
- Phillips 66 Company
- Bharat Petroleum Corporation Limited
- LanzaTech Global, Inc.
- World Energy LLC
- Gevo, Inc.
- Petróleo Brasileiro S.A
- OMV Aktiengesellschaft
- China Petrochemical Corporation
- Vitol
- Essar Group
- World Kinect Corporation
- Aemetis, Inc.
Aviation Fuel Market Segmental Analysis
The global aviation fuel market is segmented into fuel processing technology, aircraft type, fuel type, end user, and region. By fuel processing technology, the market is classified into conventional, hydrotreating, catalytic cracking, isomerization, blending, synthetic fuel, water electrolysis, reverse water-gas shift, hydrocracking & fractionation, biofuel, alcohol-to-jet conversion, and biomass-to-liquid. Depending on aircraft type, it is divided into fixed wing, military aviation, business & generation aviation, rotary wing, military helicopter, unmanned aerial vehicle (UAV), and defense & military. According to fuel type, the market is categorized into conventional aviation fuel, sustainable aviation fuel, hydrogen fuel, power-to-liquid, and gas-to-liquid. As per end user, it is segregated into airline, government & military, and non-scheduled operator.
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By Fuel Processing Technology, hydrotreating, especially the Hydroprocessed Esters and Fatty Acids, Synthetic Paraffinic Kerosene (HEFA-SPK) pathway, dominated the market in 2024. It had the biggest market share among sustainable aviation fuel (SAF) technologies due to its proven scalability, compatibility with modern jet engines, and widespread regulatory acceptance. Large producers such as Neste and World Energy have significantly expanded the capacity of HEFA production worldwide.
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By Aircraft Type, fixed-wing aircraft, which include freight, commercial, and military aircraft, will consume more than 72% of aviation fuel in 2023–2024. Due to its extensive use in the transportation of people and goods, gasoline is in high demand worldwide.
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By Fuel Type, the primary fuel for airplanes is still jet A/A-1, which will account for about 96% of the market in 2024. Sustainable aviation fuel's current infrastructure, dependability, and engine compatibility keep it at the top even if more people become interested in it.
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By End User, the commercial aircraft category is the largest users of aviation fuel in 2024, accounting for more than 60% of total usage. Due to the large number of passenger and freight flights, commercial aviation is the primary cause of the world's gasoline consumption.
Regional Outlook
North America held the largest aviation fuel market in 2024 due to its robust commercial aviation sector, ongoing additions of SAF (Sustainable Aviation Fuel), and robust regulatory support. SAF gained popularity due to the U.S. Inflation Reduction Act and incentives for producing biofuel. The continued use of conventional and alternative aircraft fuels was ensured by major airlines and regional defense operations.
Asia-Pacific expanded at the fastest rate in 2024 due to aggressive fleet growth, a growing middle class, and more people traveling. Much money was spent on creating SAF throughout the region, particularly in Southeast Asia, China, and India. As defense spending increased and infrastructure improved, both the military and the civilian sectors required more types of aviation fuel.
Europe is significantly ahead in 2024 due to its stringent environmental laws, such as the EU ETS (Emissions Trading System), which mandated SAF blending and carbon pricing. SAF production and usage increased as a result of the region's focus on decarbonizing aviation and collaboration between airlines and fuel suppliers. Power-to-liquid fuels and hydrogen are also very popular in the European market.
The LAMEA aviation fuel market grew steadily in 2024. Due to its extensive refinery capacity and importance on international aviation routes, the Middle East had a significant impact. Regional air travel increased in Latin America, and new airline routes and infrastructure upgrades in Africa increased demand. Comparatively speaking, this region's adoption of SAF was still quite low.