Sustainable Aviation Fuel Market Size, Share, Growth Analysis, By Type(Biofuel, Hydrogen Fuel), By Aircraft Type(Fixed Wings, Rotorcraft) - Industry Forecast 2024-2031

The market for sustainable aviation fuels is dominated by North America, which is anticipated to expand at a CAGR of 60.94% during the forecast period. The North American market for sustainable aviation fuel is driven by demand from industrialized nations. The aviation industries in these nations are among the biggest in the world. Some of the world's top airlines are based in North America. All have their main offices in North America and are well-known in their respective regions, including American Airlines, Delta Air Lines, United Airlines, and Southwest Airlines. Additionally, the existence of these businesses in North America increases the region's need for environmentally friendly aviation fuel.

Over the course of the forecast, Europe is expected to expand at a CAGR of 59.88%. The growing need for sustainable aviation fuel in Europe is being driven by the growth in air travel to and from Europe. Europe is also a popular tourism destination, receiving a large number of visitors each year. Europe accounted for over 23.7% of the world's scheduled passenger and freight traffic, according to the International Air Transport Association's World Air Transport Statistics. Additionally, Europe is responsible for 2.3% of domestic scheduled passenger traffic and over 21% of the world's scheduled international passenger traffic. Due to a large number of passengers, there are more flights to and from Europe. The European market is growing as a result of this.