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

Global Sustainable Aviation Fuel Market size was valued at USD 344.29 billion in 2022 and is poised to grow from USD 557.82 billion in 2023 to USD 26487.57 billion by 2031, growing at a CAGR of 62.02% during the forecast period (2024-2031).

Compared to the conventional jet fuel it replaces, the use of sustainable aviation fuel reduces carbon emissions over the fuel's lifetime. Compared to the traditional jet fuel it replaces, sustainable aviation fuel offers a tremendous reduction in carbon emissions of up to 80% over the fuel's lifetime, depending on the sustainable feedstock used, the production method, and the supply chain to the airport. Utilising sustainable aviation fuel is permitted for any aircraft qualified to use the current jet fuel specification. The SAF is predicted to increase sustainability by eliminating 100% of waste and residues, reducing emissions by 80% of its value. In addition, it enhances aircraft performance while reducing aviation emissions when compared to fossil jet fuel. Its high level of energy and improved aromatic and oxygen content. The achievement of the aviation sector's carbon reduction goals depends in large part on sustainable aviation fuel. The market for sustainable aviation fuel is being positively impacted by the increase in the adoption of alternative solutions by different aviation industry stakeholders, such as hybrid-electric and all-electric aircraft, improved aero-engine efficiency through design modifications, and growing demand due to high fuel efficiency.

US Sustainable Aviation Fuel Market is poised to grow at a sustainable CAGR for the next forecast year.