Renewable Aviation Fuel Sector is Expected to Dominate the Global Military Jet Fuel Market
The growing
expenditure in the defense sector as the security threats intensified is major
factor attributable to the growth of the market.
According
to TechSci Research report, “Global Military Jet Fuel Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Military Jet Fuel is
anticipated to project robust growth in the forecast period with a CAGR of 3.29%
through 2028, the growing expenditure in the defense sector as the security
threats intensified, requiring governments worldwide to continue increasing
their defense budgets, in turn, are expected to drive the military jet fuel
market.
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Based
on fuel type, Renewable
Aviation Fuel segment is expected to dominate the market during the forecast
period. Renewable Aviation Fuel (RAF), often called Sustainable Aviation Fuel (SAF),
is a clean substitute for fossil jet fuels. SAF is produced from sustainable
resources, such as waste oils from a biological origin, agriculture residues,
or non-fossil CO2. RAF is a drop-in fuel, which means that it can be blended
with fossil jet fuel and that the blended fuel requires no special
infrastructure or equipment changes. The first flight, which used blended
biofuel, began in 2008, and over 370,000 flights have taken to the skies using
RAF since 2016.
The
aviation industry is one of the world’s biggest carbon emitters, and this
carbon emitted at higher altitudes is potentially more harmful than sea level
emissions. The industry is constantly trying to reduce its emissions, and
advanced biofuels are a viable option that is a ‘drop-in’ solution, i.e., it
can be used by the existing infrastructure. Governments across the globe are
implementing aviation rules and policies to reduce their carbon footprint. For
instance, flights entering the European Union must pay for CO2 emissions due to
the EU Emission Trading System (ETS) since 2012. Sustainable aviation fuels are
currently being discussed as an important way to reduce aviation's greenhouse
gas emissions. Consequently, this drive for upgrades and modernization results
in a higher need for jet fuel as these enhancements effectively extend the
operational life span of the fighter aircraft.
Hence,
such increasing development in the aviation fuel sector and the need to cut
carbon emissions are expected to drive the renewable aviation fuel market in
the defense sector during the forecast period.
Based
on Region, Asia Pacific plays a significant role in the global Military Jet
Fuel market, The Asia-Pacific region is the largest consumer of jet fuel,
consisting of several massive consumers, such as China, India, Japan, South
Korea, and Australia. These countries also lead in terms of jet fuel
consumption in military consumption. As the region with the largest population
globally, Asia-Pacific has several unresolved and frozen conflicts spread
across sensitive hotspots, which can become the focal point of large conflicts.
The
tensions in the region have been further flared by China’s rising military
prowess and aggression toward its neighbors, especially in the maritime South
China Sea region. Hence, countries in the region have become wary of each
other’s intentions, and to protect their interests, the countries have been
investing heavily in the modernization and expansion of their armed forces,
including military aircraft. Such factors are expected to drive military
expenditure, which is expected to expand the size of aircraft fleets, driving
jet fuel consumption during the forecast period.
China
is the largest energy consumer and one of the largest producers and consumers
of jet fuel globally. The country has one of the largest aircraft fleets.
According to the World Directory of Modern Military Aircraft (WDMMA), as of
2023, the cumulative number of Chinese military aircraft stands at nearly 3,377
units, with the Chinese Air Force consisting of 2,084 units, the Army Air Force
at 857 units, and the Naval Air Force at 436 units. For instance, in July 2023,
the Defense Ministry of India granted preliminary approval to acquire 26 Rafale
fighter jets intended for the Indian Navy. The proposed deal encompasses the
purchase of 26 Dassault Aviation Rafale fighter jets, which includes four
trainer aircraft to enhance operational capabilities.
Therefore,
owing to the above factors, Asia-Pacifc and in particular the China and India,
are expected to be the largest market during the forecast period.
Key
market players in the Global Military Jet Fuel Market are following:-
- Shell
PLC
- BP
PLC
- Honeywell
International Inc.
- Repsol
SA
- GS
Caltex Corporation
- Chevron
Corporation
- Totalenergies
SE
- Exxonmobil
Corporation
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“The
global Military Jet Fuel Market is primarily driven by geopolitical tensions,
military modernization efforts, and technological advancements. Geopolitical
tensions can increase military spending and the demand for jet fuel.
Modernization efforts lead to the acquisition of advanced aircraft, while
technological advancements improve fuel efficiency. Additionally, environmental
regulations are pushing the development of alternative, eco-friendly fuels.
Energy security concerns, supply chain stability, and cost considerations also
influence the market. These drivers collectively shape the demand for jet fuel
in the military sector, impacting procurement strategies and the development of
more efficient and sustainable fuel solutions.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
Military Jet
Fuel Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented
by fuel type (air turbine fuel and renewable aviation fuel), By Region,
Competition 2018-2028 has
evaluated the future growth potential of Global Military Jet Fuel Market and
provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Military
Jet Fuel Market.
Contact
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