GLOBAL AVIATION JET FUEL TESTING AND INSPECTION SERVICES MARKET SIZE (2024 - 2030)

In 2023, the Global Aviation Jet Fuel Testing and Inspection Services Market was valued at $252.79 Billion and is projected to reach a market size of $330.42 Billion by 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 3.9%.

Market Overview:  

Aviation Jet Fuel is a special type of petrol-based fuel that is primarily used to power airplanes and various aircraft. These are processed and refined to enhance statements under premium quality and often contain additives to reduce the risks of icing at minimum temperatures. The rising number of air passengers along with the increasing number of business trips and short-distance trips has led to industry growth due to the expanding tourism industry along with the rising popularity of low-cost carriers. Furthermore, rising flying routes and increasing disposal incomes are some of the prime factors driving business growth in the sector. The industry is also impacted by stringent government policies and regulations, environmental regulations, and political concerns, among others.

Aircraft manufacturers are also aiming on providing efficient and highly aerodynamic aircraft carriers that are predicted to cut fuel consumption amount considerably. Moreover, with the emergence of hybrid and advanced technologies, electric aircraft, and the constant development of fully electric aircraft carriers the aviation fuel market is bound to flourish over the study period impacting the need for fuel testing and inspection services augmenting the global market size for it.

COVID-19 Impact on the Office Supplies Market:

COVID-19 critically impacted all businesses worldwide. The worst hit-off were the people in the low-income group working in the aviation services sector. They had to deal with the disruptions caused by supply chain issues and business operations. The pandemic completely shut down businesses and restricted the movement of people limiting the sector’s growth. It also changed the way in which businesses functioned. Many business owners capitalized on the evolving market trends, leading to an increase in business registrations and revenues.  Much of the new registrations were in sectors that witnessed a pandemic-influenced spike in demand like the agriculture sector and others. Therefore, it had a critical negative impact on the aviation jet fuel testing and inspection services market. Moreover, during the pandemic, the whole world faced the issue of scarcity of labors due to movement restrictions and the ongoing health crisis. Thus, the outbreak totally disrupted the travel and tourism sector making little or no scope for the industry to flourish during that time. Additionally, the government also introduced new travel laws and regulations along with aviation guidelines, which further impacted the aviation jet fuel testing and inspection market during the global pandemic crisis.  

Market Drivers:

Continuous innovation, technological advancements, and increase in research and development sector is boosting the global market growth for aviation jet fuel testing and inspection services:

Increasing demand from both consumers and merchants to reduce maintenance and management costs along with providing advanced solutions drives the market growth resulting in the continuous evolution of the technology, focusing on products and services. Ongoing developments in testing and inspection technologies and advancements in the aviation industry may strengthen the overall global market. Also, growing investments in the research and development sector in the industry may create a pool of opportunities for new players in the market augmenting the demand for these services and expanding the global market size for aviation jet fuel testing and inspection services.

Increasing disposable income is propelling the market growth of aviation jet fuel testing and inspection services:

Macroeconomic factors including urbanization along with customer inclination toward modern technologies and services to enhance the testing process are the likely reasons to spur the demand for these aviation jet fuel testing and inspection services worldwide. Also, it minimizes the cost of maintenance and manages the risks and safety issues concerned with the aircraft carrier, in the long run driving the need for these services.

Market Restraints:

Government regulatory policies and strategies to control and monitor are curtailing the growth of the aviation jet fuel testing and inspection services market:

Government regulatory and initiative policies to control, manage and monitor the aviation sector is hampering the otherwise exponentially growing initiatives taken by the major players in the market. It is slowing down the growth rate of the global market size.

GLOBAL AVIATION JET FUEL TESTING AND INSPECTION SERVICES MARKET  REPORT COVERAGE:

This research report on the Aviation Jet Fuel Testing and Inspection Services Market has been segmented and sub-segmented based on the Region, and Key Companies.

Aviation Jet Fuel Testing and Inspection Services Market – By Analysis Services.

• Appearance Analysis

• Composition Analysis

• Volatility Analysis

• Combustion Analysis

• Corrosion Analysis

• Conductivity Analysis

Based on analysis services, the aviation jet fuel testing and inspection services market has been segmented into 6 segments – Appearance Analysis, Composition Analysis, Volatility Analysis, Combustion Analysis, Corrosion Analysis, and Conductivity Analysis.

Aviation Jet Fuel Testing and Inspection Services Market – By Testing Type.

• OCM Testing

• Debris Analysis

Based on testing type, the aviation jet fuel testing and inspection services market has been segmented into 2 segments – OCM Testing and Debris Analysis.

Aviation Jet Fuel Testing and Inspection Services Market – By Region.

• North America

• Europe

• South America

• Asia-Pacific

• Middle-East and Africa

Based on region, the aviation jet fuel testing and inspection services market has been segmented into 5 major regions – North America, Europe, South America, Asia-Pacific, Middle-East, and Africa.

Asia-Pacific accounts for the highest market share of the revenue and is estimated to hold its dominant position during the entire forecasted period, 2023-2028. This is due to the rapid development in the region across all industries and increasing economic growth in the region. Moreover, the increasing demand for aviation fuels and proper testing and maintenance processes are the prominent drivers of the aviation jet fuel testing and inspection services market in the region. In December 2021, Indigo Airlines, India signed an agreement with the Dehradun-based Council of Scientific and Industrial Research-Indian Institute of Petroleum to manufacture and supply these services. Due to such developments, the region is anticipated to witness rapid growth in the forecasted future.

North America is also anticipated to project a steady growth rate in the forthcoming years majorly due to activities in the U.S., Canada, and Mexico. A major market share is held by the U.S. followed by Mexico and Canada. The growth of defence sector in the U.S. is majorly driving the need for the aviation jet fuel testing and inspection services market in the region there. With around USD 867 billion the U.S. government spends on the military and defence sector, it is leading the global market thus, augmenting the demand for these services.

Aviation Jet Fuel Testing and Inspection Services Market – By Companies.

1. Exxon Mobil Corporation

2. Bharat Petroleum Corp Ltd

3. BP Plc.

4. Chevron corporation

5. Allied Aviation Services, Inc.

6. Valero Marketing and Supply

7. Shell PLC.

8. TotalEnergies SE

9. Qatar Jet Fuel Company

10. Gazprom Neft PJSC

11. Archer Daniels Midland Company

12. Honeywell International Inc.

13. Amyris

14. Primus Green Energy

15. Solazyme

The key market players are focusing on business strategies, such as product launches, to increase their customer base and strengthen their product portfolio and adopting various types of technology to improve their business and market value.  

Recent Industry Developments:

• In August 2020, Gevo Inc. Entered into an agreement with Trafigura Trading LLC, a subsidiary of Trafigura Group Pte Ltd. The agreement comprised of purchase and sale of renewable hydrocarbons among the two companies.

• In June 2020, Hypoint Inc. Entered into a contract with Urban Aeronautics Inc.

• In June 2020, Amazon Air acquired 6 million gallons of aviation fuel provided by Shell Aviation and produced by World Energy.

• In December 2019, World Energy joined hands with Shell and Air France to supply aviation fuel for flights from San Francisco.