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Aviation Fuel Market Size to Worth Around USD 935.67 Bn by 2032

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Ottawa, June 23, 2023 (GLOBE NEWSWIRE) — The global aviation fuel market size will expand to USD 719.96 billion in 2030. The growing tourism & travel industry, enhancing holiday destinations, high spending capacity, and construction of new airports is majorly driving the aviation fuel market growth.

In the European tourism & travel industry, revenue is predicted to witness a compounded annual growth rate (CAGR) of 1.71% from 2023 to 2027. The European tourism & travel market volume is projected to account for $300.20 billion by 2027. Such high estimates boost the aviation industry’s growth accordingly.

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Due to the limited count of aviation fuel providers, the bargaining power of buyers is relatively less as compared to the bargaining power of suppliers in this market. With the advent of electric aircraft, the threat of substitutes is moderate in the global Aviation Fuel Market as of now.

To support nations in response to the COVID-19 pandemic, United Nations International Children’s Emergency Fund (UNICEF) supplied more than 400 million medical masks since January 2020. UNICEF also provided 23.3 million N95 respirators and 385 million surgical masks to 134 countries across the globe. The demand for aviation fuel is going to rise with the growing air transportation of medications and healthcare products.

The global aviation fuel market report includes an analysis of leading continents for a better understanding of the recent scenario. Additionally, our global aviation fuel market research report offers prominent insights about the latest industry developments and suggests future strategies that can be adopted at a global level. Our report highlights some of the crucial influencing factors such as drivers, restraints, opportunities, and challenges. The report also includes ecosystem analysis, value chain analysis, and vendor landscape.

Report Highlights

  • By fuel type, the global aviation fuel market is segmented into sustainable fuel and conventional fuel. The sustainable fuel segment is expected to hold a significant market share during the forecast period. The conventional fuel segment held the largest market share in 2022.
  • By end user, the global aviation fuel market is divided into commercial aircraft, private aircraft, and military aircraft. The commercial aircraft segment is anticipated to dominate the market during the forecast period. The commercial aircraft segment had the highest revenue share in 2022.
  • By Region, the aviation fuel market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa, and Latin America. North America held the highest maker share of the global aviation fuel market in 2022. Asia Pacific (APAC) region is estimated to grow with the highest compounded annual growth rate (CAGR) during the study period till 2032.

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Scope of this report

Coverage Details
Market Size in 2030 USD 719.96 Billion
CAGR 14% from 2023 to 2032
By Fuel Type
  • Conventional Fuel
  • Sustainable Fuel
By End User
  • Commercial Aircraft
  • Private Aircraft
  • Military Aircraft
By Region
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa
Key Players Exxon Mobil, Shell Plc, Indian Oil Corporation Limited, Chevron Corporation, Valero Energy Corporation, Essar Oil (UK) Limited, Bharat Petroleum Corporation Limited, TotalEnergies SE, Viva Energy Group, Abu Dhabi National Oil Company (ADNOC), Neste, and Others

Regional Snapshots

North America is among the most lucrative markets for aviation fuels. In 2022, airlines in the US carried more than 611.9 million passengers on domestic flights across the country. The domestic air passenger traffic in Mexico accounted for about 44.4 million passengers in 2021. Thus, such a high count of domestic air passengers creates immense scope for sustainable aviation fuel in the North American region.

As per Eurostat, around 373 million passengers traveled by air in the EU in 2021. According to Eurostat, during the 1st half of 2022 only, around 338 million passengers traveled at the EU level in the European region. Thus, the increasing count of passengers in the European Union creates remarkable scope for new commercial aircraft, which will enhance the need for required aviation fuel.

In November 2020, the Indian Union Ministry of Food Processing Industries announced to offer air transportation subsidy of 50% for 41 notified vegetables and fruits from the Himalayan and the Northeastern states to any location across India. In January 2023, Amazon launched its cargo service ‘Amazon Air’ in India with 2 cargo aircraft having a carrying capacity of 20,000 packages. Growing e-commerce shipments are anticipated to create enormous opportunities for the aviation sector in the Asia Pacific region.

The countries in the African continent are in the developing stage and are not as developed as the countries in the West. The development of the aviation sector in the African region is estimated to take place at a comparatively slow pace. The aviation sector is expanding in the Latin American region. The aviation fuel market region is anticipated to grow considerably in Latin America.

Market Dynamics for Aviation Fuel Market:

Market Driver: Increasing Air Traffic in Various Countries

The growth in air traffic is mostly attributable to an increase in domestic air travel in developed as well as developing nations. In 2022, airlines in the United States carried around 688 million passengers on domestic flights across the country. This count was a significant rise from 612 million domestic passengers carried by various US airlines in 2021.

Domestic airlines in India carried around 123.2 million passengers from January 2022 to December 2022. In September 2022, Aircraft manufacturer Boeing reported that India’s air traffic is predicted to witness 7% annual growth till 2040.

The air cargo market is growing notably all over the world. According to International Air Transport Association (IATA), overall air cargo volumes grew by 18.7% year-on-year (Y-o-Y) in 2021. International cargo volumes of Middle Eastern carriers rose by around 5.7% in December 2021 as compared to December 2019.

Air freight is playing a noticeable role in transporting temperature-sensitive medications in the finest condition. Considering temperature-sensitive space along with faster delivery speeds of aircraft, various vaccines can be shipped by air. As per World Health Organization (WHO), vaccination programs help in preventing about 3 million child deaths each year.

As per Seabury Group, around 0.5 million tonnes of pharmaceutical products are shipped by air every year. In 2020, Amazon Air shipped 100,000 thermometers, 29 million face masks, and 3 million gloves. All these healthcare products were distributed to employees across Europe amidst the COVID-19 pandemic. Hence, the international transport of medications by air is expected to rise in the near future. Thus, rising air traffic is expected to generate higher demand for aviation fuel across the globe.

Market Restraint: Growing Concern Regarding Emission Across the World

With many aircraft powered with jet gasoline, the aviation industry accounts for around 2.5% of global CO2 emissions. The European Commission has estimated that by 2050, air transport will increase aviation greenhouse gas emissions by about 300% compared to 2005 levels in case no strong strategy is adopted to control GHG emissions.

As of 2019, the top five countries with respect to passenger aviation-related carbon emissions were Japan, China, the United States, the United Kingdom, and Germany. Flights departing from airports in the United States and its territories emitted around 23% of global passenger transport-related CO2 in 2019, 2/3rd of which was from domestic flights. By emitting approximately 19% of the global passenger transport-related CO2 in 2019, the 28 countries of the European Union (EU) collectively stood 2nd behind the US. In 2022, Japan’s CO2 emissions due to international aviation accounted for about 9.89 million tonnes. This count is notably high as compared to 8.85 million tonnes of CO2 emitted in the previous year (2021).

The aviation industry is aiming to achieve net-zero carbon emissions by 2050. Numerous government authorities are working on essential measures to curtail aviation emissions. In October 2022, the United Nations’ International Civil Aviation Organization (ICAO) had negotiations with 184 nations for agreement on CO2 emissions reduction measures. In July 2020, the Environmental Protection Agency proposed greenhouse gas emission standards for newly launched commercial aircraft.

As compared with the levels in 2020, the aviation industry in China has decided to reduce carbon emissions per ton-km by 4.5% by 2025. Qantas Airways Ltd has planned to reduce carbon emissions by 25% by 2030. Thus, rising emission levels in the aviation sector and respective norms to curb them is restraining the global aviation fuel market growth remarkably.

Related Reports

  • Aviation Analytics Market – The global aviation analytics market size was valued at USD 3.5 billion in 2022 and expanding around USD 10.75 billion by 2032 with a CAGR of 11.86% from 2023 to 2032.
  • Aviation Asset Management Market – The global aviation asset management market size was valued at USD 183.38 billion in 2022, and it is expanding around USD 327.48 billion by 2032 with a CAGR of 5.97% from 2023 to 2032.
  • AI in Aviation Market – The global artificial intelligence in aviation market size was valued at US$ 653.74 million in 2021 and it is expanding around US$ 9,985.86 million by 2030 with a CAGR of 35.38% from 2022 to 2030.

Key Developments in the Marketplace:

  • In December 2022, the ultra-low-cost airline Akasa Air ordered 72 Boeing 737 Max airplanes. The order value for 72 Boeing 737 Max airplanes is said to be worth $9 billion. This is the biggest order received by Boeing from India. This order provides Boeing with the much-needed foothold across the Indian aviation sector. The growing count of airplanes enhances the demand for aviation fuel respectively.
  • In 1st quarter (Q1) of 2023, Airbus gained orders for 142 aircraft, including one A319neo, 12 A220-300s, 60 A321neos, 27 A320neos, five A350-900s, four A350Fs, and 33 A350-1000s. The Airbus March report showed that the company got orders for 156 aircraft in the 1st quarter (Q1) of 2023. Also, the company has planned to deliver 720 aircraft in 2023.

Market Segmentation

By Fuel Type

  • Conventional Fuel
  • Sustainable Fuel

By End User

  • Commercial Aircraft
  • Private Aircraft
  • Military Aircraft

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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Artificial Intelligence

Picus Security Launches Security Validation for Kubernetes

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Teams can eliminate container security exposures with the new enhancements in Picus’ platform for multi-cloud
SAN FRANCISCO, May 23, 2024 /PRNewswire/ — Picus Security, the Security Validation company, today announced security validation for Kubernetes. This new capability allows Security and DevOps teams to realize the benefits of containers securely by proactively measuring and optimizing the resilience of clusters. It is the latest innovative addition to the Picus Security Validation Platform, which empowers users to consistently validate their security posture and measure risk across on-premises and multi-cloud environments.

For organizations that want an agile way to deploy, run and scale applications, Kubernetes offers considerable benefits. However, security is often the biggest barrier to its adoption. The dynamic and complex nature of Kubernetes means that containers are often misconfigured due to human error. Without a hands-on approach to governance, security gaps can easily emerge over time, increasing the risk of incidents. This situation is exacerbated by the high level of expertise required to secure Kubernetes and the use of default settings which are inherently insecure. According to The State of Kubernetes Report, more than two-thirds of Kubernetes users (67%) have delayed deployments due to security concerns.* 
The addition of Kubernetes validation extends the Picus platform’s existing validation capabilities, which are powered by attack simulation and GenAI. It enables organizations to proactively identify and mitigate security misconfigurations, such as weak policies and settings that could allow containers to run with insecure privileges and facilitate lateral movement. Now security teams can automatically assess the security of their workloads wherever they are located – on-premises, in containers, and also in cloud platforms including Amazon Web Services, Google Cloud Platform, and Microsoft Azure.
“Cloud security is perhaps the biggest barrier of entry for organizations that want to take advantage of container orchestration,” said Volkan Erturk, Picus CTO and Co-Founder. “Kubernetes offers incredible opportunities for DevOps teams to deploy and scale new applications, but Security teams can struggle to keep pace.
“With the Picus Security Validation Platform, security concerns won’t slow down an organization’s digital transformation journey. This new offering will allow our users to consistently measure the security of their workloads and vastly reduce the effort needed to address exposures across growing IT environments.”
Additional Information
Read the Kubernetes validation announcement blog.Register for the upcoming webinar on July 11th 2024 at 10.00 EST/ 15.00 BST: Beyond Cloud Security Posture Management: Validating Cloud Effectiveness with Attack Simulation About Picus Security
Picus Security helps security teams consistently and accurately validate their security posture. Our Security Validation Platform simulates real-world threats to evaluate the effectiveness of security controls, identify high-risk attack paths to critical assets, and optimize threat prevention and detection capabilities.
As the pioneer of Breach and Attack Simulation, we specialize in delivering the actionable insights our customers need to be threat-centric and proactive. 
Picus is a Gartner® Peer Insights™ Customers’ Choice for 2024 in the BAS tools category†. The company is recognized as a leader by Frost & Sullivan^.
† Gartner, Voice of the Customer for Breach and Attack Simulation Tools, Peer Contributors, 30 January 2024 ^ Frost and Sullivan, 2022 Frost Radar™ report for the Global Breach and Attack Simulation Market
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Artificial Intelligence

Highlights from the Finale: Day Three of the London Blockchain Conference Unravelled

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As the London Blockchain Conference draws to a close, attendees heard from industry experts on Driving Innovation with Blockchain.
LONDON, May 23, 2024 /PRNewswire/ — Attendees at the London Blockchain Conference were in to witness the final day, which featured a line-up of informative and thought-provoking speakers. Throughout the day, there were exciting panels and presentations which featured cutting-edge ideas and insights.

Day 3 kickstarted with BSVA launching a new report focusing on the role of blockchain in safeguarding data and streamlining transactions.
Other sessions included:
The Intersection of Web3, AI, and Emerging Tech – Somi Aran, Founder of InPeak gave the opening keynote which explored the dynamic convergence of Web3, Artificial Intelligence, and emerging technologies. She delved into how these technologies are reshaping industries and redefining the boundaries of innovation and the potential impacts and opportunities these technologies present.
Bridging the gap: Making Web3 technologies user-friendly – Christine Leong, CIO, nChain – discussed some of the innovative strategies and practical solutions aimed at simplifying Web3 technologies. She also discussed how nChain is planning to transform Web3 from a domain exclusive to the tech-savvy, into a user-friendly ecosystem that empowers all users.
Is code law? – Rules applicable to blockchain networks – panel featuring Marcin Zarakowski, CEO of Token Recovery, Akber Datoo CEO of D2 Legal Technology, Jeffrey Golden, King’s Counsel (Hon) at 3 Hare Court Chambers, Andrei Kirilenko, Professor of Finance at Cambridge Judge Business School, Professor Sarah Green, Law Commissioner at Law Commission, where they discussed that rules apply to the nodes and validators which support the particular network and process its transactions. The group also discussed whether the blockchain protocols’ rules and software code are the only sources of regulation in blockchain networks.
An Introduction to nChain Identity – Thomas Moretti, Head of Product Development at nChain. He spoke about the Self Sovereignty Identity concept and showcased the latest project it is working on – nChain Identity.
Reimagining Roles: How regulated industry leaders are shaping the future of finance – a panel featuring, Andrew Mosson (Chief Commercial Officer of OneTrading, Néstor Palao, Head DLT & Corporate Clients at Sygnum Bank, Laurence Lewandowska, CFO/COO at BSV Association and Wojciech Kaszycki Chairman & Founder at Mobilum. The panel discussed how the new era of digital assets, traditional banking institutions, exchanges, and financial services are being reimagined in the context of emerging technologies such as blockchain and AI.
Please register here if you would like to listen to any of the sessions today. 
If you want to interview any speaker from today’s sessions, please email [email protected].
About the London Blockchain Conference NETWORK. LEARN. ENGAGE.  At the London Blockchain Conference, we show how Blockchain will change the world and help people see another way to manage data, build scalable on-chain solutions and achieve great things. We do this by creating valuable, insightful, and engaging events that educate and inform, allowing you to connect and network to build strong business relationships. Our conference is the best avenue to see blockchain innovations, ecosystem announcements, product launches, technology updates, keynote speeches, panels, and fireside chats from blockchain leaders. Join us and experience it for yourself. 

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Nord Anglia Education publishes new insights on the role of AI and metacognition in learning

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LONDON, May 23, 2024 /PRNewswire/ — INSIGHTS, the global publication from Nord Anglia Education, has published two new articles taking an in-depth look at AI in education and the role of metacognition in teaching and learning.

Exploring the role of AI in learning
https://www.nordangliaeducation.com/insights/2024/articles/the-generative-generationIn its ‘Generative Generation’ feature, INSIGHTS explores the role of artificial intelligence (AI) in education, and whether the technology is making it easier for children to learn. Speaking to Nord Anglia’s educators as well as leading experts from the world of academia, it also includes real-life examples of how Nord Anglia’s schools are using AI in the classroom.
For example, Nord Anglia’s British International School in Kuala Lumpur has adapted the technology to create an AI-powered teaching assistant that can personalise learning, guide students through content exploration, and deepen their understanding through interactive activities. Learners define the topic they want to explore and the course specification they are working to, and the AI explores the content with them in a conversational way, enabling them to ask questions as they go. 
Dr Bruce Geddes, Deputy Head of Secondary at the school, told INSIGHTS that AI represents “the biggest opportunity we’ve had in our lifetimes, for many, many spheres, but particularly in education”.
Avenues: The World School in New York, which became part of Nord Anglia in 2023, encourages its students to use AI in their work. As an example, in an app development project students use ChatGPT to generate the bulk of the coding, then review, correct and refine it. This saves them “hours of manual work by leveraging the appropriate tool in an academically appropriate way,” says Lia Muschellack, Director of Technology at the school.
The school also has its own generative AI chatbot, Savvy, built in 2019 and now powered by open AI technology. It can answer queries, provide information, and engage in “diverse discussions ranging from academic topics to casual conversations”.
“We understand that our students will be actively leveraging these tools throughout their academic and professional pathways, so we want to make sure they not only understand the potentials and limitations, but that they have tinkered and truly experienced them,” Muschellack explains.
Metacognition: a learning superpower
In its feature ‘Metacognition. Helping Kids Unlock the Power of ‘Thinking about Thinking’, INSIGHTS looks at how students can develop the important skill of metacognition.
“Metacognition is the ability to be aware of our cognitive or thought processes and to monitor, reflect on, and change those processes,” Dr Rose Luckin, Professor of Learner Centred Design at the University College London Knowledge Lab, told INSIGHTS.
Nord Anglia Education is working with Dr Luckin to develop its approach to metacognition and to help teachers introduce metacognitive strategies into classrooms. It has developed a metacognitive framework of six “Learner Ambitions” to help students develop the 6 Cs: to become critical, creative, committed, and curious learners, working compassionately and collaboratively in the classroom and beyond.
As the article explains, Nord Anglia’s deep dive into metacognition has many goals: developing student agency, boosting academic performance, and developing ‘future’ skills that employers want. The framework is being initially applied across 27 Nord Anglia schools around the world and its impact will be measured in independent research in partnership with Boston College, reporting in 2025.
Nord Anglia’s examination of metacognition also involves exploring personalised goals and thinking routines. For instance, students at Nord Anglia International School Hong Kong use the “Step In, Step Out, Step Back” routine to develop empathy and understanding in their studies. “It’s about asking the right questions; those really big questions that lead to even more questions,” says Raquel Thomson, the school’s Deputy Head of Primary. “Thinking strategies like this stay with students and serve a purpose whatever they do in their lives, whether they choose to be a scientist or a teacher or go into business.”
For media enquiries please contact: Francesca Milani Communications Manager, Digital Education Portfolio +44 20 7131 0000 [email protected] 
About Nord Anglia Education:
As the world’s leading international schools organisation, we’re shaping a generation of creative and resilient global citizens who graduate from our schools with everything they need for success, whatever they choose to be or do in life.  
Our strong academic foundations combine world-class teaching and curricula with cutting-edge technology and facilities, creating learning experiences like no other. Inside and outside of the classroom, we inspire our students to achieve more than they ever thought possible.  
No two children learn the same way, which is why our schools around the world personalise learning to what works best for every student. Inspired by our high-quality teachers, our students achieve outstanding academic results and go on to study at the world’s top universities.  
To learn more or apply for a place for your child, go to nordangliaeducation.com.
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