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Aviation Fuel Market Size to Hit USD 450 Billion by 2026 | Jet Fuel to Dominate the Global Aviation Fuel Market Share

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Pune, India, Aug. 01, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights, the global aviation fuel market size projected to hit USD 450 billion by 2026 and exhibit a CAGR of 5.33% during the forecast period. The market size stood at USD 300 billion in 2018. The aviation industry needs to focus on reducing carbon emissions and ensuring sustainable air travel. Use of high-quality aviation fuel will improve the efficiency of airplanes. Moreover, air travel is set to increase rapidly, owing to its rising preference from tourism, socio-economic, and other sectors. This will further increase the aviation fuel market share in the forthcoming years

Aviation industry is estimated to consume around 15% of the global oil demand by 2030, as per the International Energy Association (IEA). This shows that the demand for aviation fuel is likely to increase, which drives the global aviation fuel market.

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List of Key Players Present in the Market

  • Total
  • ExxonMobil
  • Chevron
  • British Petroleum (BP)
  • Shell
  • Gazprom
  • Vitol
  • World Fuel Services
  • Mercury Air Group
  • China Aviation Oil

Report Scope & Segmentation:

Report Coverage Details
Forecast Period 2019-2026
Forecast Period  2019 TO 2026 CAGR 5.22%
2026 Value Projection USD 450 Billion
Base Year 2018
Market Size in 2018 USD 300 Billion
Historical Data for 2015-2017
No. of Pages 130
Segments covered Fuel, End user, Geography
Growth Drivers Prominent Oil & Gas Companies Are Gaining Momentum In Terms Of The Aviation Fuel Market

COVID-19 Impact

In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects:

We analysed industry trends in the context of COVID-19. We analysed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyse the impact of COVID-19 on various regions and major countries.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/aviation-fuel-market-100427

Market Drivers:

Burgeoning Demand for Jet Fuel Drives the Market

Jet fuel also referred to as Aviation Turbine Fuel (ATF) is a petroleum-based fuel which powers turbo-propelled and jet engine aircraft. The rising demand for air cargo transportation is expected to boost the segment’s growth. This, in turn, will drive the aviation fuel market growth. Jet fuels are high-value light petroleum products processed from crude oil. These fuels are not only used in jet aircraft, but in jet turbine applications too. There are different grades of jet fuels called Jet A1, and Jet A. The former is used for commercial purposes in international aviation, and the latter is specifically for the U.S. domestic aviation.

A growing number of air traffic passengers is expected to expand the airline industry. As a matter of fact, Boeing recently receives the highest order for manufacturing commercial air buses and cargos on account of an increasing number of Boeing passengers.  Other factors driving the jet fuel segment are better aircraft fuel-burning efficiency, growing international trade, rising industrial production globally, and better economic scenario. The global aviation fuel market size is likely to increase owing to the rising demand for bio-jet fuel. The types of fuel intend to mitigate the pollution levels and ensure sustainable air travel.

Quick Buy – Aviation Fuel Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100427

Regional Insights

British Airways and Shell Plans to Build a Green Jet Fuel Refinery in the UK

From a geographical standpoint, North America is anticipated to emerge dominant in the global aviation fuel market through the forecast years. Strong economic growth in the U.S. is pushing the market to grow at a high pace. Rising investments in information communication and technology (ICT) and an increasing number of manufacturing units in this region are contributing to the growth of the market. Driven by these factors, the aviation fuel market share is expected to increase during the forecast period in North America.

The market in Europe is expected to grow considerably in the forecast years. Consequently, British Airways and Shell are planning to build a sustainable and green jet fuel plant. This plant will be made from household waste. Furthermore, both the companies are funding £2.8m to a renewable waste company called Velocys. The aim of this plant is to produce 20 million gallons of carbon-free and sustainable jet fuel.

The market in the Asia Pacific is expected to witness high potential owing to the rapid developments in countries such as China, Japan, and India. China is the biggest consumer of aviation fuel in APAC. Following China, Other countries such as Japan, Indonesia, and India are consumers of aviation fuel. Moreover, the Indian government reduced excise duty on aviation fuel from 14% to 11% in October 2018.

Competitive Landscape:

Market to Benefit as Countries Plan to Increase their Defense Budget

As per the International Air Transport Association or IATA, the number of air skyrocketed as it surpassed 4 billion for the first time. This is attributable to the bettering economic conditions of developing economies and lessening airfares. The aviation fuel market revenue is likely to increase as some of the countries are planning to increase their defense budget. This is primarily done to enhance national security and also, military plans a crucial role in aviation fuel consumption. Hence, not only commercial airplanes, private jets, and military jets consume aviation fuel. This acts as potential growth triggers for the market.

“Rising per capita income of middle-class people now opt for airplanes for comfort and luxury, thus boosting the aviation fuel market potential,” said a lead analyst at Fortune Business insights. This, coupled with instability in crude oil prices, enable growth in the market.

Among leading players in the global market, BP and Shell are presently leading the market. Other companies such as Total, Chevron, Gazprom, ExxonMobil, and Hindustan Petroleum Corporation Limited play a significant role in the market. Boeing is planning to invest around US$ 1 Million in the Roundtable on Sustainable Biomaterials (RSB) and World Wide Fund for Nature to build sustainable aviation biofuels in Brazil.

Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/aviation-fuel-market-100427

Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Emerging Trends – For Major Countries
    • Latest Technological Advancement
    • Key Industry Developments
    • Regulatory Landscape
    • Porters Five Forces Analysis
  • Global Aviation Fuel Market Analysis (US$ Mn, Thousand Tonnes), Insights and Forecast, 2015-2026
    • Key Findings
    • Market Analysis, Insights and Forecast – By Fuel
      • Jet Fuel (ATF)
      • Avgas
      • Bio Jet Fuel
    • Market Analysis, Insights and Forecast – By End-User
      • Commercial
      • Private
      • Military
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Latin America
      • Europe
      • Asia Pacific
      • Middle East & Africa
  • North America Aviation Fuel Market Analysis (US$ Mn, Thousand Tonnes), Insights and Forecast, 2015-2026
    • Key Findings
    • Market Analysis, Insights and Forecast – By Fuel
      • Jet Fuel (ATF)
      • Avgas
      • Bio Jet Fuel
    • Market Analysis, Insights and Forecast – By End-User
      • Commercial
      • Private
      • Military
    • Market Analysis, Insights and Forecast – By Country
      • U.S.
      • Canada

Continued…

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About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

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Email: [email protected]

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Reliance Cyber and Google Cloud Security unite to transform cybersecurity for UK businesses

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LONDON, May 28, 2024 /PRNewswire/ — Leading Managed Security Service Provider (MSSP), Reliance Cyber has been selected as one of only four MSSPs to partner with Google Cloud Security (GCS). This collaboration is set to make cybersecurity more effective and less complicated for businesses throughout the UK and Ireland.

Why this matters:In today’s complex security environment, businesses face a multitude of challenges, including escalating cyberattacks, an overwhelming number of security alerts, rising cybersecurity costs, and a critical shortage of skilled professionals. The partnership between Reliance Cyber and Google Cloud Security provides organisations with improved security postures through insightful, data-driven analytics, which underpin Reliance Cyber’s XDR service. For businesses facing diverse economic, social, and technological changes—such as the ongoing impacts of COVID-19, the transition to hybrid and remote work, rapid technological advancements like AI, and budget pressures from the cost of living crisis—this partnership represents a significant step forward. It enhances cybersecurity without the usual challenges of high costs, complexity, or the need for specialised staff. It’s about making world-class security simple and available to a wider audience.
What’s changing:
Support for growth: The partnership will expand the reach of state-of-the-art security services to more businesses, helping to protect organisations without the stress of financial and operational barriersEnhanced visibility, lower costs: Leveraging Google’s SOAR capabilities and Chronicle’s powerful telemetry, Reliance Cyber’s tailored ingestion approach means organisations can achieve enhanced visibility across their digital environments at a reduced cost. This approach enables proactive prevention and detection of threats, ensuring better security with less expenditure.Key benefits of the strategic partnership include:
AI and automation: Automation is at the core of Reliance Cyber’s offering. Every alert is enriched with threat intel from leading vendors, automatically correlated, and grouped into cases, reducing mean time to detect (MTTD) and mean time to respond (MTTR). Google’s additions enhance this with lower data ingestion costs, superior threat intelligence, curated detections, and advanced anomaly detection using machine learningSimplified security operations to support staff: Integration of Google Cloud’s SOAR capabilities simplifies the security management landscape, allowing CISOs to focus on strategic planning rather than daily operational hurdlesScalable security for business growth: The partnership supports business expansion strategies by providing scalable security solutions that grow with the company, crucial for organisations driving technological advancementData-driven insights for better decision-making: Boards will gain unparalleled visibility into their digital environments, fostering smarter, faster decision-making to preemptively address potential security threats.Rob Walton, Chief Revenue Officer at Reliance Cyber, on the transformative impact: “We’re thrilled to partner with Google Cloud Security. This partnership aligns perfectly with our mission to deliver comprehensive, advanced security services to the market, making top-level security accessible and manageable for businesses of all sizes. Ultimately, it’s about creating predictability and peace of mind in an area that can often cause businesses and their boards sleepless nights, particularly due to concerns about attacks and the financial constraints that dictate risk appetites.”
Do you want more coverage, at less cost, with zero compromises? 
Enquire about a proof of concept. Visit: https://eu1.hubs.ly/H09bKtG0.
About Reliance Cyber
Since our founding in 2003, Reliance Cyber has established itself as a leading Managed Security Service Provider (MSSP). By combining deep cybersecurity expertise with a true partnership ethos, we enable organisations to concentrate on their core business.
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Artificial Intelligence

Eficode acquires Jodocus and reinforces Atlassian Cloud skills and Atlassian partnership in Germany

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HELSINKI, May 28, 2024 /PRNewswire/ — Eficode has acquired Jodocus, the first cloud-native Atlassian Platinum partner in Germany. This acquisition further reinforces Eficode’s role as an Atlassian partner in Germany and expands its skills and services in Atlassian Cloud.

“Atlassian is moving to the Cloud, and the related know-how is essential to speed up this transition. Jodocus was originally the first Atlassian partner in Germany to focus fully on the Cloud. Their broad expertise in Atlassian tools and cloud migrations helps our customers in their journey to the cloud and complements our mission to build the future of software development,” says Ilari Nurmi, CEO of Eficode. “We welcome Jodocus’ employees and customers to Eficode.”
Founded in 2019, Jodocus is an Atlassian Platinum Solution Partner with extensive expertise in Atlassian Cloud. In addition to focusing on the Cloud, the Jodocus team offers support on business processes, Application Lifecycle Management, and DevOps. Their customer base is in Germany, with well-known names such as Otto Group and Fricke. Jodocus has 45 employees, and its revenue in 2023 was 11,5 million euros. “Together, Eficode and Jodocus will form a more significant entity and have even more international customers, which opens possibilities for deepening and broadening our relationship with our customers,” says Werner Krandick, CEO of Jodocus.
Eficode has enabled countless businesses with DevOps and digital transformation to adopt new technologies and practices to create software better. Its full spectrum of digital services can now be extended also to Jodocus’ customers. Eficode ROOT provides software development tools as a managed service in a Software-as-a-Service manner. In turn, with Total Support, we manage the tools and offer support, coaching, and mentoring for Atlassian solutions as a subscription.
In recent years, Eficode has grown strongly both organically and through acquisitions. Eficode’s compound annual growth (CAGR) during the previous four fiscal years has been 70%.
Media contactsIlari Nurmi, Chief Executive Officer, Eficode. [email protected], +358 40 577 5084 Lauri Palokangas, Chief Marketing Officer, Eficode. [email protected], +358 50 486 4918 
This information was brought to you by Cision http://news.cision.com
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Artificial Intelligence

New first of its kind UK legal-tech recruitment platform aims to put an end to overseas worker scams

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Unique UK-based legal technology platform, Immpact, helps unite the global talent market to fulfil UK skills shortages across healthcare, construction, engineering, life sciences and hospitality Immpact directly connects employers, recruiters and regulated legal experts with pre-qualified global talent – and aims to help eradicate profiteering job scammersREADING, England, May 28, 2024 /PRNewswire/ — A unique new legal-tech recruitment platform has launched in the UK to help put an end to overseas worker scams and directly connect UK employers and recruiters with pre-qualified overseas global talent. Immpact will help fulfil acute skills shortages across sectors including healthcare, construction, engineering, life sciences and hospitality, while ensuring full legal Home Office compliance.

The launch of Immpact follows over two years of advanced legal-tech development. Using the immigration law expertise of Founder and Managing Director, Jonathan Beech, and his team of specialists, the platform will help unite a previously disconnected global talent market with under-resourced UK employers and transform global workplace migration. Immpact has also been developed through discussions with hundreds of employers, industry bodies and overseas talent.
With job scams – from fake jobs to illegal fees for sponsor licences – ongoing, particularly in the social and healthcare sector, Immpact will ensure only pre-qualified talent, employers and recruitment firms are placed on its platform following stringent multi-layer checks. This will ensure that all jobs and talent are qualified and genuine along with thoroughly regulated employers and recruiters, to provide a global marketplace for talent.
Jonathan Beech, Founder and Managing Director of Immpact, said: “Through my existing business running Migrate UK, I’m acutely aware of the issues that UK employers and recruiters are having in trying to fulfil talent shortages across sectors such as care, healthcare and life sciences. I also regularly hear terrible stories of genuine overseas job hunters being ripped off in their home countries or the UK by job scammers, often running to thousands of pounds.
“I knew there had to be a better way to match pre-qualified overseas talent with genuine work opportunities and responsible UK employers – effectively a ‘talent’ match-making site which is designed to eradicate scammers to provide a global, trusted marketplace for talent.”
Following the latest government immigration rule changes, overseas recruitment costs are continuing to rise for businesses struggling with talent shortages. From 4 April 2024, the minimum salary for entering the new skilled visa worker route for the first time increased by 48%, from £26,200 to £38,700 a year. There are different rates for those already holding a skilled worker certificate of sponsorship prior to this date and discounts are available for key shortage roles on the Immigration Salary List (ISL).
Immpact will benefit employers and recruiters by saving them time and money. Working with recruitment experts to analyse existing overseas recruitment workflows, Immpact has calculated that it will save 50% of the time involved in managing overseas recruitment, helping to cut down the time-consuming filtering of applications traditionally needed.
For employers traditionally looking to recruit overseas applicants, previous data from industry recruitment software specialists show that 30% of overseas applications are rejected as they do not have the right to work, while 64% are rejected due to CVs being unclear or requirements not being met. This leaves just 6% of applications remaining, which results in about 2% then being interviewed. Immpact will automatically present only suitable pre-qualified applications to employers or recruiters, eradicating wasted time on unsuitable or unqualified applicants.
Beech continues: “Following thousands of hours of development and utilising the latest advanced technology which can adapt to evolving Home Office requirements and procedures, we’re proud to launch Immpact. Our unique new platform takes care of the entire process – from pre-qualifying processes, searching and shortlisting, down to arranging interviews, successful appointments, onboarding, the provision of regular content and guidance, and access to regulated immigration legal professionals.
“Our new technology will transform global migration for both UK organisations and businesses struggling to recruit and global talent looking to work in the UK. Immpact has been thoroughly tested at every stage and is both user-friendly and, crucially, compliant, so qualified overseas applicants and UK employers and recruiters can be confident that only genuine UK jobs and overseas applicants match and proceed. Quite simply, we want Immpact to simplify the whole migration process by putting the right talent in the right place at the right time, and for UK employers to fulfil critical talent shortages which will help them not only survive, but thrive.”
The platform has a free trial or low-cost subscriber options for search-matching and more for employers and recruiters. For talent, the platform has zero costs for creating a profile, using the pre-qualifying tools or searching for opportunities. For further information visit www.immpact.ai.
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