Jet Fuel Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to jet fuel market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Jet Fuel Market News

in Jet Fuel Market
  • In January 2024, LanzaJet inaugurated the world's first commercial-scale ethanol-to-jet Sustainable Aviation Fuel (SAF) production plant in Soperton, Georgia, USA. This marked a significant step in the commercialization of alternative SAF production pathways.
  • In March 2024, International Airlines Group (IAG), the parent company of British Airways and Iberia, announced its largest Sustainable Aviation Fuel (SAF) purchase agreement to date with e-SAF producer Twelve. This agreement signaled a strong commitment from a major airline group to invest in and utilize e-SAF.
  • In April 2024, Honeywell announced that its advanced Fischer-Tropsch (FT) technology can now convert a wider range of biomass sources, including forestry residues and energy crops, into Sustainable Aviation Fuel (SAF). This development broadened the potential feedstocks for SAF production, enhancing its sustainability and scalability.
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Global Jet Fuel Market size was valued at USD 284.58 Billion in 2023 and is poised to grow from USD 297.87 Billion in 2024 to USD 429.15 Billion by 2032, growing at a CAGR of 4.67% in the forecast period (2025-2032).

The competitive landscape of the global jet fuel industry is currently undergoing a significant transformation, primarily driven by the urgent need for decarbonization and the emergence of sustainable aviation fuels (SAF). Traditional oil and gas giants, such as ExxonMobil, Chevron, BP, Shell, and TotalEnergies, are major players with established infrastructure for production, distribution, and supply of conventional jet fuel. 'LanzaJet', 'International Airlines Group (IAG)', 'Honeywell ', 'ExxonMobil', 'Chevron', 'BP p.l.c.', 'Shell', 'TotalEnergies', 'Neste', 'World Energy, LLC', 'Gevo, Inc.', 'Aemetis, Inc.', 'Fulcrum BioEnergy', 'SkyNRG'

The growing global demand for air travel is a key driver for the jet fuel market. This demand has been further accelerated by the expansion of low-cost carriers and increasing disposable incomes in emerging markets, particularly in Asia Pacific. As the volume of flights increases, airlines require more jet fuel to meet the operational needs of their fleets, thereby driving the growth of the jet fuel market.

Growth in Sustainable Aviation Fuel (SAF): Sustainable aviation fuel (SAF) is emerging as one of the most significant global jet fuel market trend in the jet fuel market. SAF is produced from renewable resources like biofuels, waste oils, or even algae, offering a more sustainable alternative to conventional jet fuel. The adoption of SAF is gaining momentum as airlines and airports worldwide commit to carbon-neutral targets. SAF not only helps reduce the aviation industry's environmental impact but also aligns with regulatory requirements regarding emissions. Major airlines and energy companies are investing heavily in SAF production and partnerships to meet sustainability goals.

What are the Key Factors Driving the Jet Fuel Market in North America?

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Global Jet Fuel Market
Jet Fuel Market

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