NEW YORK, United States, June 26, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Aerospace Gasoline Market Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030” in its research database. According to the latest research study, the global aerospace gasoline market size was valued at USD 1.94 billion in 2022 and it is expected to surpass USD 2.98 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.55% during the forecast period 2023 to 2030.
What is Aerospace Gasoline? How big is the Aerospace Gasoline Industry?
Report Overview:
The aerospace gasoline market refers to the production, purchase, and sale of aviation gas, also known as avgas. It is a specialized type of fuel used in piston-engine aircraft. The size of the industry depends on factors such as the number of piston-engine aircraft in operations along with regional demand and general aviation activities within a country or across international borders. In recent times, multiple factors have greatly influenced the aerospace gasoline industry growth trajectory and, in the future, market players are expected to come across better growth avenues. A piston-engine aircraft is powered by piston engines and works on the principles of reciprocating motion. In this technique, the piston moves up and down within a cylinder to generate power.
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- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
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- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Zion Market Research Methodology
Global Aerospace Gasoline Dynamics:
Growth Factors
The global aerospace gasoline market is expected to grow owing to the expansion of aircraft fleets across the globe. This is particularly related to piston-engine aircraft. For instance, as per the Massachusetts Institute of Technology (MIT), the United States has more than 67,000 piston-engine aircraft and these planes hold the majority share of the regional general aviation sector. Furthermore, the growing number of flight training programs worldwide could lead to higher demand for avgas as it becomes an essential component to power an aircraft for aspiring pilots to undergo training. With the expanding aviation sector, there is a surging need for well-trained and proficient pilots that can maneuver a flight even in difficult situations and across geographical locations.
Another crucial point of growth may be seen in the growing infrastructure development projects undertaken by developing and developed nations. Every country is working toward deploying more efficient aircraft carriers. This includes consistent research & development along with strategic partnerships to innovate and run trials of new forms of sustainable avgas. Moreover, as the general aviation sector expands, the need and use of avgas are projected to grow at a steady rate.
Restraints
The global aerospace gasoline industry may also come across certain growth restrictions due to challenging environmental and regulatory compliances. The trend could be strengthened by the impact of the use of gasoline on the ecosystem leading to greater adoption of electric or hybrid small aircraft. Rapid technological advancements in the aviation sector are likely to impact the demand for aerospace gasoline since the world is eyeing the development of fuel-efficient engines that use electric or hybrid propulsion systems. Other factors such as infrastructure limitations and volatile fuel prices could also impede industry growth.
Opportunities & Challenge
Modernization and upgrades may provide growth opportunities while the relatively less commercial airway traffic could challenge market expansion.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 1.94 Billion |
| Projected Market Size in 2030 | USD 2.98 Billion |
| CAGR Growth Rate | 5.55% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Boeing, Airbus, Lockheed Martin, United Technologies Corporation (UTC), General Electric (GE), Safran Group, Rolls-Royce Holdings, Northrop Grumman Corporation, Bombardier Inc., Embraer S.A., Textron Inc., Honeywell International Inc., Leonardo S.p.A., Raytheon Technologies Corporation, BAE Systems, Pratt & Whitney (division of Raytheon Technologies), Mitsubishi Heavy Industries, Kawasaki Heavy Industries, Thales Group, Spirit AeroSystems Holdings Inc., General Dynamics Corporation, Dassault Aviation, Bell Textron Inc. (a Textron Inc. company), L3 Harris Technologies, and Meggitt PLC. |
| Key Segment | By Fuel Type, By Aircraft Type, By End-User, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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Aerospace Gasoline Market: Segmentation Analysis
The global aerospace gasoline market is segmented based on fuel type, aircraft type, end-user, and region.
Based on fuel type, the global market segments are avgas 100, avgas UL94, avgas 100LL, avgas 115, avgas UL91, avgas 80, and others. Based on aircraft type, the global aerospace gasoline industry is segmented into rotorcraft, fixed-wing, and others. Leading with over 63.2% of the global share, the fixed-wing segment was the largest contributor in 2022. For operational purposes, fixed-wing aircraft make use of turbine engines and pistons. Since aerospace gasoline is most suitable for turbine engines, segmental growth is automatically a byproduct of the transaction. Since this type of aircraft tends to be heavy and generally covers long distances, gasoline is considered ideal when compared to electric or hybrid fuels. They have applications across military and commercial markets.
Based on end-user, the global aerospace gasoline industry is segmented into military, commercial, and private. The industry witnessed the highest growth in the private segment with dominance over 58.1% of the global share. This was primarily due to the increased spending on private airplanes by companies and individuals. In recent times, the number of companies offering private chartered flights for tourism, business, air sports, and commercial purposes has grown at a rapid rate. Primarily reasons such as increased income, changing lifestyle, and easier access to private services have led to the high demand in this segment. The commercial section may also generate a high growth rate as there may be a demand for commercial flights to handle growing emergency incidents across the globe.
The global aerospace gasoline market is segmented as follows:
By Fuel Type
- Avgas 100
- Avgas UL94
- Avgas 100LL
- Avgas 115
- Avgas UL91
- Avgas 80
- Others
By Aircraft Type
- Rotorcraft
- Fixed-Wing
- Others
By End-User
- Military
- Commercial
- Private
Browse the full “Aerospace Gasoline Market By Fuel Type (Avgas 100, Avgas UL94, Avgas 100LL, Avgas 115, Avgas UL91, Avgas 80, And Others), By Aircraft Type (Rotorcraft, Fixed-Wing, And Others), By End-User (Military, Commercial, And Private), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030"- Report at https://www.zionmarketresearch.com/report/aerospace-gasoline-market
Competitive Landscape
Some of the main competitors dominating the global aerospace gasoline market include -
- Boeing
- Airbus
- Lockheed Martin
- United Technologies Corporation (UTC)
- General Electric (GE)
- Safran Group
- Rolls-Royce Holdings
- Northrop Grumman Corporation
- Bombardier Inc.
- Embraer S.A.
- Textron Inc.
- Honeywell International Inc.
- Leonardo S.p.A.
- Raytheon Technologies Corporation
- BAE Systems
- Pratt & Whitney (division of Raytheon Technologies)
- Mitsubishi Heavy Industries
- Kawasaki Heavy Industries
- Thales Group
- Spirit AeroSystems Holdings Inc.
- General Dynamics Corporation
- Dassault Aviation
- Bell Textron Inc. (a Textron Inc. company)
- L3 Harris Technologies
- Meggitt PLC.
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the Aerospace Gasoline market is likely to expand at a CAGR of around 5.55% during the forecast period (2023-2030).
- In terms of revenue, the Aerospace Gasoline market size was valued at around US$ 1.94 billion in 2022 and is projected to reach US$ 2.98 billion by 2030.
- The aerospace gasoline market is projected to grow at a significant rate due to the growing demand for sustainable packaging.
- Based on fuel type segmentation, avgas 100LL was predicted to show maximum market share in the year 2022.
- Based on end-user segmentation, private was the leading user in 2022.
- On the basis of region, North America was the leading revenue generator in 2022.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Aerospace Gasoline industry?
- What are the main driving factors propelling the Aerospace Gasoline Market forward?
- What are the leading companies in the Aerospace Gasoline Industry?
- What segments does the Aerospace Gasoline Market cover?
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Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Fuel Type, By Aircraft Type, By End-User, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
North America: The global aerospace gasoline market is projected to be dominated by North America due to the presence of key manufacturers of piston-engine aircraft and the growing use of these carriers for business, commercial, and military purposes. The US military and government use such aircraft for surveillance purposes as well as it has numerous takers in the private segment. Favorable regulatory conditions have also contributed to the industry's growth trajectory.
Europe is a significant player in the industry with Germany, UK, and France leading with the highest regional market share. France is a dominant exporter of aviation entities such as piston-engine aircraft to other countries. There is high domestic demand as well.
Asia-Pacific: Growing economies such as China, India, and the increasing expenditure by South Korea, Japan, and Singapore in upgrading the aviation sector could assist Asia-Pacific to generate higher growth.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In April 2023, Air India signed an agreement with KSU Aviation with the goal to launch TaxiBot operations at Bengaluru and Delhi airports in India. This move is expected to help India save nearly 15,000 tonnes of jet fuel in the next 3 years
- In April 2023, LanzaJet, a US-based firm, and Indian Oil entered a partnership that will work toward setting up the country’s first green aviation fuel plant. The refinery is expected to be worth INR 3,000 crore
- In March 2023, Honeywell announced the introduction of UOP EFining™ Technology which will be used to develop a new class of Sustainable Aviation Fuel (SAF)
To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/aerospace-gasoline-market
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