Global Jet Fuel Market Overview
According to SPER Market Research, the Global Jet Fuel Market is estimated to reach USD 334.96 billion by 2033 with a CAGR of 4.94%.
Aviation fuels known as jet fuels are primarily utilized by the United States and other North Atlantic Treaty Organization (NATO) nations to support their military operations. Commercial airlines, on the other hand, rely on similar types of fuel called Jet A and Jet A-1. Jet fuel, which ranks as the third most significant transportation fuel, falls under the category of middle-distillate products. It finds extensive use worldwide in both cooking and heating (kerosene), as well as powering commercial and military jets. Freeze point, flash point, and smoke point are vital characteristics of jet fuel when employed for aviation purposes. The boiling point range for commercial jet fuel typically falls between 190°C and 275°C, while military jet fuel operates within the range of 55°C to 285°C.
Exploring the Growth Drivers of the Global Jet Fuel Industry
Several factors influence the global jet fuel market. To begin with, the growing number of air travellers drives demand for jet fuel as more people choose to travel by air. Second, as the aviation industry expands with new and existing airlines, the demand for jet fuel rises to meet passenger demand. Economic conditions also play a role, as increased air travel and higher fuel demand result from a strong economy. Concerns about the environment encourage the development of sustainable aviation fuels, while technological advances in aircraft design influence fuel consumption. These factors influence the growth and demand for jet fuel.
What challenges does the Global Jet Fuel Market face?
The global jet fuel market is facing operational and growth challenges. Crude oil price volatility has a direct impact on jet fuel costs, making it difficult for businesses to plan and manage expenses. Environmental concerns and regulations necessitate the development of sustainable aviation fuels that adhere to stringent specifications. Geopolitical factors and conflicts can disrupt crude oil supply, causing market uncertainty. The infrastructure for producing, storing, and transporting jet fuel is complex and costly. While technological advances in aircraft design are beneficial to the environment, they may reduce the overall demand for jet fuel. Overcoming these obstacles is critical for ensuring a consistent, affordable, and long-term supply of jet fuel.
In what ways has the COVID-19 pandemic affected Global Jet Fuel Market?
COVID-19 had a significant impact on the global jet fuel market, as travel restrictions and lockdown measures resulted in a significant drop in air travel. This reduced demand for jet fuel, forcing airlines to cancel flights and cut back on operations, resulting in a jet fuel surplus. Prices fell as a result of the surplus, posing financial challenges for oil companies and refineries that rely on the aviation industry. The airline industry has also seen job losses and pay cuts. On the plus side, reduced air travel temporarily reduced greenhouse gas emissions and air pollution, benefiting the environment. COVID-19 resulted in decreased demand, surplus supply, plummeting prices, financial difficulties, job losses, and environmental benefits in the global jet fuel market.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Fuel Grade, By Application
|
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
|
| Companies Covered | Allied Aviation Services Inc., Amyris, Archer Daniels Midland Company, Bharat Petroleum Corp Ltd, BP Plc., Chevron Corporation, Exxon Mobil Corporation, Gazprom Neft PJSC, Honeywell International Inc., Primus Green Energy, Qatar Jet Fuel Company, Shell PLC, Solazyme, TotalEnergies SE, Valero Marketing and Supply, Others
|
Key Target Audience:
- Airlines and aviation companies
- Oil companies and refineries
- Aircraft manufacturers and suppliers
- Airport authorities and ground handling services
- Defense and military sectors
- Government regulatory bodies and policymakers
- Fuel distributors and suppliers
Global Jet Fuel Market Segmentation:
1. By Fuel Grade:
- Global Jet Fuel Market Value Share and Forecast, By Fuel Grade, 2023-2033
- Jet A
- Jet A1
- Jet B
- TS-1
2. By Application:
- Global Jet Fuel Market Value Share and Forecast, By Application, 2023-2033
- Commercial
- Defense
- General Avaition
- Private
3. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Global Jet Fuel Market Size (FY’2023-FY’2033)
- Overview of Global Jet Fuel Market
- Segmentation of Global Video Editing Platform Market By Fuel Grade (Jet A, Jet A1, Jet B, TS-1)
- Segmentation of Global Video Editing Software Market By Application (Commercial, Defense, General Avaition, Private)
- Statistical Snap of Global Jet Fuel Market
- Growth Analysis of Global Jet Fuel Market
- Problems and Challenges in Global Jet Fuel Market
- Competitive Landscape in the Global Jet Fuel Market
- Impact of COVID-19 and Demonetization on Global Jet Fuel Market
- Details on Recent Investment in Global Jet Fuel Market
- Competitive Analysis of Global Jet Fuel Market
- Key Players in the Global Jet Fuel Market
- SWOT Analysis of Global Jet Fuel Market
- Global Jet Fuel Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Jet Fuel Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Jet Fuel Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Jet Fuel Market
7. Global Jet Fuel Market, By Fuel Grade (USD Million)
7.1. Global Jet Fuel Market Value Share and Forecast, By Fuel Grade, 2023-2033
7.2. Jet A
7.3. Jet A1
7.4. Jet B
7.5. TS-1
8. Global Jet Fuel Market, By Application (USD Million)
8.1. Global Jet Fuel Market Value Share and Forecast, By Application, 2023-2033
8.2. Commercial
8.3. Defense
8.4. General Avaition
8.5. Private
9. Global Jet Fuel Market Forecast, 2019-2033 (USD Million)
9.1. Global Jet Fuel Market Size and Market Share
10. Global Jet Fuel Market, By Fuel Garde, 2019-2033 (USD Million)
10.1. Global Jet Fuel Market Size and Market Share By Fuel Grade (2019-2026)
10.2. Global Jet Fuel Market Size and Market Share By Fuel Grade (2027-2033)
11. Global Jet Fuel Market, By Application, 2019-2033 (USD Million)
11.1. Global Jet Fuel Market Size and Market Share By Application (2019-2026)
11.2. Global Jet Fuel Market Size and Market Share By Application (2027-2033)
12. Global Jet Fuel Market, By Region, 2019-2033 (USD Million)
12.1. Global Jet Fuel Market Size and Market Share By Region (2019-2026)
12.2. Global Jet Fuel Market Size and Market Share By Region (2027-2033)
12.3. Asia-Pacific
12.3.1. Australia
12.3.2. China
12.3.3. India
12.3.4. Japan
12.3.5. South Korea
12.3.6. Rest of Asia-Pacific
12.4. Europe
12.4.1. France
12.4.2. Germany
12.4.3. Italy
12.4.4. Spain
12.4.5. United Kingdom
12.4.6. Rest of Europe
12.5. Middle East and Africa
12.5.1. Kingdom of Saudi Arabia
12.5.2. United Arab Emirates
12.5.3. Rest of Middle East & Africa
12.6. North America
12.6.1. Canada
12.6.2. Mexico
12.6.3. United States
12.7. Latin America
12.7.1. Argentina
12.7.2. Brazil
12.7.3. Rest of Latin America
13. Company Profile
13.1. Allied Aviation Services Inc.
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. Amyris
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Archer Daniels Midland Company
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Bharat Petroleum Corp Ltd
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. BP Plc.
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. Chevron Corporation
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. Exxon Mobil Corporation
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Gazprom Neft PJSC
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. Honeywell International Inc.
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Primus Green Energy
13.10.1. Company details
13.10.2. Financial outlook
13.10.3. Product summary
13.10.4. Recent developments
13.11. Qatar Jet Fuel Company
13.11.1. Company details
13.11.2. Financial outlook
13.11.3. Product summary
13.11.4. Recent developments
13.12. Shell PLC
13.12.1. Company details
13.12.2. Financial outlook
13.12.3. Product summary
13.12.4. Recent developments
13.13. Solazyme
13.13.1. Company details
13.13.2. Financial outlook
13.13.3. Product summary
13.13.4. Recent developments
13.14. TotalEnergies SE
13.14.1. Company details
13.14.2. Financial outlook
13.14.3. Product summary
13.14.4. Recent developments
13.15. Valero Marketing and Supply
13.15.1. Company details
13.15.2. Financial outlook
13.15.3. Product summary
13.15.4. Recent developments
13.16. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
