As cited by the research report titled ‘Aviation Fuel Market Size By Grade (Jet Fuel, Aviation Gasoline, Biokerosene), By End-use Sector (Commercial Aircraft [Narrow Body Aircraft, Widebody Aircraft], Regional Jet, Business Jet, Helicopter, Military), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available with Market Study Report, global aviation fuel market is projected to accumulate USD 325 billion over 2019-2026.
 

Increasing construction and expansion of airports, along with mounting production and delivery of aircrafts are primarily driving the global aviation fuel market growth. Additionally, rising demand for low cost carriers and growing tourism sector are augmenting the market outlook.
 

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The report cites that middle class population are opting air travel for efficient & superior long route travel, reduced ticket fares owing to the emergence of low-cost carriers are further enhancing the market scenario. Airliners are placing orders for various aircrafts to cater the rising passenger demand.
 

Based on grade, worldwide aviation fuel industry is segmented into jet fuel, biokerosene, and aviation gasoline. Among these, biokerosene segment is anticipated to witness a growth of around 33% over the analysis period, owing to continuous development & investments in this fuel for powering future aircrafts, coupled with increasing focus of regulatory bodies and industry players on the production of commercially viable green fuel to minimize impacts on the environment.
 

Considering end use sector, the marketplace is categorized into commercial aircraft, business jet, regional jet, helicopter, and military. As cited in the report, business jets segment is poised to account for 14% market share over the forecast timeline, due to growing usage of these aircrafts for short distance trips and business travel.
 

Additionally, the provision for multiple aviation ownership plans involving fractional & timeshare ownership have allowed customers to own private jets conveniently, thus positively swaying the industry dynamics. Also, growing demand for chartered aircraft services is enhancing the market outlook.
 

Considering the regional framework, aviation fuel market in Latin America and Middle East & Africa is anticipated to record significant growth over 2019-2026, due to growing tourism. In Latin America, the recovering economy with cross border merger of the airliners is likely to fuel the industry demand. Meanwhile, Middle East & Africa is witnessing a rising demand of business jets, aiding revenue inflow.
 

Prominent players influencing the worldwide aviation fuel industry trends are Virent Inc., Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited, Reliance Petroleum Limited, China Aviation Oil Corporation Ltd., Mercury Air Group Inc., World Fuel Services Corporation, Vitol Holding BV, PJSC Gazprom, Royal Dutch Shell plc, British Petroleum plc, Bharat Petroleum Corporation Limited, Chevron Corporation, Exxon Mobil Corporation,  and Total SA.