Ocean View, DE -- (SBWIRE) -- 06/24/2020 -- Aviation fuel market forecast will be primarily driven by rapid growth of the global tourism sector. This growth can be largely attributed to a booming middle-class population around the world. Strong economic growth around many emerging economies and increased purchasing power of consumers is propelling the expansion of aviation and tourism industries. Global Market Insights, Inc., estimates that aviation fuel market size will reach US$325 billion by 2026.

Flights are comfortable and convenient, especially over longer routes, which is why an increasing number of people worldwide are now opting for air travel. The introduction of low-cost carriers and the consequently dropping air fares will propel aviation fuel industry outlook.

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In recent times, air travel is being given higher preference by customers due to it being efficient and superior way of traveling over longer routes. Furthermore, reduced prices of tickets owing to the emergence of low-cost carriers should push global aviation fuel market trends in the forthcoming years.

According to a research report by Global Market Insights, Inc., global aviation fuel market is estimated to surpass $325 billion by 2026.

The Major Key Players in the Market are as follows:
Total, ExxonMobil, Chevron, British Petroleum (BP), Shell, Gazprom, Vitol, World Fuel Services, Mercury Air Group, China Aviation Oil, Reliance Petroleum, Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited (BPCL), HPCL, Virent, Inc.

The biokerosene segment is projected to dominate the industry share in the forthcoming years. The segment is anticipated to witness a growth of more than 33% through 2026. This development can be accounted for consistent investments and developments in the field of biokerosene to support the future aircrafts.

In addition, rising climate change concerns would likely propel the market share as governments agencies are increasingly focusing on manufacturing commercially viable green fuel to minimize the fuel's impact on environment.

With reference to the end-user segment, business jets are anticipated to observe considerable growth through the forecast timeframe. The segment would likely account for more than 14% of the overall aviation fuel market share. This development can be attributed to the growing need for these aircrafts for short-distance trips as well as business travels.

Apart from this, new regulations about multiple aviation ownership plans including timeshare and fractional ownership have encouraged customers to conveniently own private jets. This is likely to be a key factor proliferating the market growth through the forthcoming timeframe.

Latin America aviation fuel market is projected to dominate the global market share through 2026. Consistent expansion of tourism industry is the major factor responsible for the market growth in the region.

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Along with tourism, the recovering economy with the cross-border merger of airlines would further add up to the industry expansion of Latin America. A steady rise in air traffic would also positively impact the industry outlook.

Apart from Latin America, MEA aviation fuel market is anticipated to witness significant profits through 2026. Growing demand of the business jets across the region is likely to be a major factor proliferating the market share.

Some Points From Table Of Content: -
Chapter 4. Aviation Fuel Market, By Grade
4.1. Global aviation fuel industry share by grade, 2018 & 2026
4.2. Jet Fuel
4.2.1. Global market estimates and forecasts, 2016 – 2026
4.2.2. Market estimates and forecast, by region, 2016 – 2026
4.3. Aviation Gasoline
4.3.1. Global market estimates and forecasts, 2016 – 2026
4.3.2. Market estimates and forecast, by region, 2016 – 2026
4.4. Biokerosene
4.4.1. Global market estimates and forecasts, 2016 – 2026
4.4.2. Market estimates and forecast, by region, 2016 – 2026

Chapter 5. Aviation Fuel Market, By End-use Sector
5.1. Global aviation fuel market share by end-use sector, 2018 & 2026
5.2. Commercial
5.2.1. Global market estimates and forecasts, 2016 – 2026
5.2.2. Market estimates and forecast, by region, 2016 – 2026
5.2.3. Narrow body
5.2.3.1. Global market estimates and forecasts, 2016 – 2026
5.2.3.2. Market estimates and forecast, by region, 2016 – 2026
5.2.4. Widebody
5.2.4.1. Global market estimates and forecasts, 2016 – 2026
5.2.4.2. Market estimates and forecast, by region, 2016 – 2026
5.3. Regional
5.3.1. Global market estimates and forecasts, 2016 – 2026
5.3.2. Market estimates and forecast, by region, 2016 – 2026
5.4. Business
5.4.1. Global market estimates and forecasts, 2016 – 2026
5.4.2. Market estimates and forecast, by region, 2016 – 2026
5.5. Helicopter
5.5.1. Global market estimates and forecasts, 2016 – 2026
5.5.2. Market estimates and forecast, by region, 2016 – 2026
5.6. Military
5.6.1. Global market estimates and forecasts, 2016 – 2026
5.6.2. Market estimates and forecast, by region, 2016 – 2026

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