Aviation Biofuel Market Trends

The aviation biofuel market is expected to observe an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by production technology, application, and region. Among production technology, the hydrogenated vegetable oil segment is expected to influence the overall aviation biofuel market owing to the fact that it’s the primary source of raw material for first-generation aircraft biofuel manufacturing and generation. Based on the application, the commercial aircraft segment is predicted to dominate the global market on account of the growing adaptation of biofuels instead of traditional jet fuel. CLICK TO DOWNLOAD SAMPLE REPORT

Growth Drivers

Growing efforts to decrease carbon emission

The climbing demand for biofuel and growing international trade is projected to drive the aviation biofuel market globally. European airlines, such as British Airways, Air France, and Lufthansa, in synchronization with Airbus and European aviation biofuel makers, have commenced the authorization of aviation biofuel in Europe. Additionally, the U.S. Federal government is budding as an active promoter and buyer of aviation biofuel. An inter-agency biofuel partnership has been made amongst the Department of Defense, the U.S. Department of Agriculture, and the U.S. Department of Energy to gain biofuel for the U.S. Air Force and the U.S. Navy.

An escalation in the number of aircraft will drive the aviation biofuel market

The Air-transport industry is booming. The number of passengers commuting frequently around the world is increasing due to a high preference for air travel and less time taken to travel across destinations.

Although currently, all airlines are facing a critical downfall in demand due to widespread COVID-19 pandemic, it is expected to pick up the pace gradually once the situation normalizes.

Rising demand in APAC countries

Demand for aircraft is likely to rise considerably in emerging nations of Asia-Pacific (APAC) due to upsurge in the number of middle-income customers throughout the forecast period.

Restraints

Strict regulations

Maintaining the standard specifications while producing aviation biofuel comes under strict guidelines that might put a hindrance on the global aviation biofuels market growth.