Aircraft Lightning Protection Market is expected to witness significant growth to 2026

As per regional share, the Aviation Fuel of Middle East & Africa (MEA) and Latin America is anticipated to record fruitful proceeds in the coming years. Increasing production of aircrafts is slated to foster aviation fuel industry size. In recent years, airline companies have recorded a growth in the number of air-traveling passengers. This ever-increasing demand has amassed a lot of backlog orders from airplane manufacturers. Taking Boeing for instance, in November 2019, UAE-based airline Emirates inked a strategic agreement with the company for buying 30 Boeing 787 jets which were valued at USD 9 billion. Currently, Boeing has a backlog of more than 5,000 airplanes. With surge in demand for aircrafts by the airline industry, Global Market Insights, Inc. suggests that the aviation fuel market is likely to exceed US$325 billion by 2026.

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Proliferation in the global tourism industry coupled with rise in construction of aircrafts is expected to boost the demand for aviation fuel. Introduction of low-cost carriers that offer efficient and hassle-free journey over long routes have made air travel a viable choice. Availability of cheap airline tickets have inspired the middle-class population to opt for air travel.

Based on fuel type, the aviation fuel market is categorized into aviation gasoline, biokerosene and jet fuel. Out of these three, biokerosene segment is anticipated to garner the highest growth at more than 33% over the predicted period. Constant developments and investments in biokerosene could make it a viable fuel option for future aircrafts. Additionally, growing attempts by industry partakers to develop commercially viable, environmentally friendly fuel alternatives may complement biokerosene market outlook. In 2019, the U.S. Department of Energy provisioned a grant of USD 1.7 million to the Fuel Laboratory of Renewable Energy for boosting the development of sustainable aircraft gas.

With growing demand for short-distance trips and business travel, the overall market share for business jets is expected to foster in the coming years. Analysts predict that business jets could account for more than 14% of the aviation fuel market share. Business models like multiple aviation ownership plans which contain timeshare and fractional ownership have allowed individuals to conveniently own private jets. Increasing implementation of such models could hugely contribute towards industry growth. Whereas escalating demand for chartered airplane services may offer tremendous prospects for aviation fuel industry expansion.

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As per regional share, the aviation fuel market of Middle East & Africa (MEA) and Latin America is anticipated to record fruitful proceeds in the coming years. Rapid surge in the region’s tourism industry along with steady growth in air traffic has compelled major airplane manufacturers to develop more widebody frames for commercial airlines. Recovering economy and mergers of various international airliners in Latin America may boost product demand. Meanwhile, propelling demand for private jets in MEA would act as a key factor contributing to the region’s aviation fuel market growth.

Some of the prominent players present in aviation fuel market include BP, Shell, Gazprom, Chevron, IOCL and Reliance Petroleum. Companies in this industry are focusing on signing strategic deals and forming lucrative partnerships to help progress business reach. Taking November 2019 for instance, BP inked a technical services deal with Sonangol that focused on developing its business in Angola.

Browse key industry insights spread across 160 pages with 217 market data tables & 24 figures & charts from the report, "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" in detail along with the table of contents:https://www.gminsights.com/industry-analysis/aviation-fuel-market

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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