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

Sustainable Aviation Fuel Market Drivers

Aviation Industry’s Pressure to reduce GHG Emissions to Bring Lucrative Growth Opportunities

• As a result of increased greenhouse gas emissions due to human activity, climate change is being caused. Fossil fuels like natural gas, coal, and oil and gas are the main sources of carbon dioxide emissions. In addition, Russia and China are among the biggest polluters in the world. Gas, coal, and oil companies owned by OPEC are the primary cause of these pollution. The market's expansion is aided by this element.

• A greater proportion of aircraft are being deployed due to the rising demand from both passengers and service providers for air travel. Additionally, this element promotes market expansion. Over the course of the projection period, the market expansion is additionally aided by the rising middle-class population as well as their increased spending power. Therefore, the increase in aircraft and air travellers is assisting in driving the market's expansion during the anticipated year.

Sustainable Aviation Fuel Market Restraints

Inadequate Supply of Feedstock and Refineries to Hinder Market Growth

• The raw materials that play a vital part in the entire production chain of alternative aviation fuels including e-fuels, bio jet fuels, and synthetic fuels are non-biological and biological resources like waste oil, sugar and oil crops, algae, etc. As a result of the scarcity of the raw materials needed to produce sustainable aviation fuel, demand for it also becomes non-existent. This factor is therefore impeding market expansion.