The aviation fuel market size is expected to grow from USD 249.9 billion in 2022 and is projected to reach USD 696.2 billion by 2030, at a CAGR of 13.7% during the forecast period. Growing demand to reduce GHG emissions is one of the major factors driving this market.
Major players in the aviation fuel market include Exxon Mobil Corporation (US), Chevron Corporation (US), British Petroleum (UK), Shell (UK), TotalEnergies (France), Neste (Finland), Gazprom (Russia), World Fuel Service (US), Indian Oil Corporation (India), and Valero Energy Corporation (US) among others. These players have adopted various growth strategies, such as new product launches, expansions, and contracts & agreements, to strengthen their presence in the aircraft cabin interiors market. New product launches and contracts & agreements have been the leading strategies adopted by major players from 2019 to 2022, which helped them innovate upon their offerings and expand their customer bases.
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Exxon Mobil Corporation engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream, and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products. The Chemical segment offers petrochemicals. The company was founded by John D. Rockefeller in 1882 and is headquartered in Irving, Texas, US.
Chevron Corporation is an integrated oil and gas company. It operates in the oil and gas value chain, from the exploration and production and storage and pipeline transportation to the refining, marketing, and distribution of oil and gas products. The company explores, produces, and transports crude oil and natural gas; refines, markets, and distributes transportation fuel and lubricants; and sells petrochemicals and additives. Chevron has interests in gas to liquid facilities in its operating regions. The company has an operational presence in North America, South America, Europe, Asia, the Middle East, and Africa.
British Petroleum (BP) operates as an integrated oil and gas company. It operates through the following segments: Gas & Low Carbon Energy, Customers & Products, and Oil Production & Operations. The Oil Production & Operations segment engages in oil and natural gas exploration, field development and production, midstream transportation, storage and processing, and marketing and trade of natural gas, including liquefied natural gas and power and natural gas liquids. The Gas & Low Carbon Energy segment refines, manufactures, markets, transports, supplies, and trades crude oil, petroleum, petrochemicals products, and related services to wholesale and retail customers.
Shell plc engages in the production of oil and natural gas. It operates through the following segments: Integrated Gas, Upstream, Oil Products, and Chemicals. The Integrated Gas segment includes liquefied natural gas, conversion of natural gas into gas to liquid fuel and other products, and a new energies portfolio. The Upstream segment explores and extracts natural gas and natural gas liquids. The Oil Products segment is involved in refining, trading, and marketing crude oil. The Chemicals segment manages manufacturing plants and its own marketing network.
TotalEnergies engages in the exploration and production of fuel, natural gas, and low-carbon electricity. It operates through the following business segments: Exploration & Production; Integrated Gas, Renewables & Power; Refining & Chemicals; and Marketing & Services. The Exploration & Production segment encompasses oil and natural gas exploration and production activities. The Integrated Gas, Renewables & Power segment comprises integrated gas and low-carbon electricity businesses. It also includes upstream and midstream LNG activities. The Refining & Chemicals segment engages in activities related to refining oil, petrochemicals, and specialty chemicals. This segment also includes the activities of oil supply, trading, and marine shipping. The Marketing & Services segment includes the global activities of supply and marketing in the field of petroleum products.
Aviation Fuel Market by Fuel Type (Conventional Fuel-Air Turbine Fuel, Avgas, Sustainable Fuel- Biofuel, Hydrogen Fuel, Power-To-Liquid, Gas-To-Liquid), Aircraft Type (Fixed Wing, Rotary Wing, Unmanned Aerial Vehicle) & Region- Global Forecast to 2030
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