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New report: Aerospace and defense fuel market trends and forecast from 2014 to 2024

New report: Aerospace and defense fuel market trends and forecast from 2014 to 2024

Aerospace and defense fuel is a specialized petroleum-based fuel used to drive an aircraft. Aerospace and defense fuel is maintained at relatively higher quality than other fuels used in moderately critical applications including road transport or heating.

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Introduction:

This fuel often contains fuel additives to enhance its overall efficiency and reduce the risk of explosion or icing owing to high temperatures. Most of the aerospace and defense fuels are the types of petroleum fuels that are generally used in jet turbine engines or automotive/generator engines with spark plugs.

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It is also used widely in aircrafts with diesel engines. Aerospace and defense fuel is generally of four types namely avgas, jet fuel, CNG and others.

Avgas also known as aviation gasoline is largely used in internal combustion engines with spark plugs.

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The formulation of avgas is different as compared to mogas, also known as motor gasoline, which is used in military vehicles and cars. Avgas is formulated for its safety, stability and predictable and changeable performance across a wide scope of environments.

Avgas is ordinarily used in aircraft which use Wankel or reciprocating engines. While jet fuel is a clear fuel which is based on either naphtha-kerosene blend or unleaded kerosene, it is like diesel fuel and is typically used in either turbine engines or compression ignition engines.

Jet fuel powers commercial aircrafts and is a mixture of kerosene which burns at 49°C. Kerosene based aircraft fuel possess a relatively higher flash point as compared to gasoline based aircraft fuel.

This, in turn, requires relatively higher temperature for its ignition. Jet fuel is a highly efficient fuel and in case it fails any quality test to be used in a jet aircraft, it can be used in less demanding applications such as railroad engines.

Moreover, liquefied natural gas or compressed natural gas are some other fuels used in an aircraft. Turbofans can be operated by different types of fuels such as natural gas.

The main advantage of using natural gas over jet fuel is its lower cost.

Market Dynamics:

Increase in world economy, increasing prominence of cheaper airlines and rising demand for aircrafts, especially from emerging countries like India and China are some key factors that are expected to boost the global aerospace and defense fuel market. Moreover, increasing passenger traffic with around 10% to 12% per annum is complementing the demand for aerospace fuel.

Also, expansion in production plans in aircraft manufacturing is another major factor anticipated to drive the global aerospace and defense fuel market growth during the forecast period. In addition, focus on expansion in production of aircrafts by key market players such as Airbus and Boeing is projected to increase the demand for aerospace and defense fuel.

Increasing enhancements in global fiscal conditions coupled with availability of low cost airlines, especially in Asia and Middle East are some other major aspects likely to foster the demand for aerospace and defense fuel over the forecast period. However, stringent government regulations and increasing awareness for the reduction of carbon emissions are some key challenges in the global aerospace and defense fuel market.

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Market Classification:

The Global Aerospace and Defense Fuel Market Make an Inquiry about this news can be segmented on the basis of fuel type, application and geography. Based on fuel type, the global aerospace and defense fuel market can be segmented into avgas, jet fuel, natural gas and others.

By application, the global aerospace and defense fuel market can be segmented into civil aviation and military & defense. 

Regional Overview:

By geography, the global aerospace and defense fuel market can be segmented into North America, Latin America, Europe, Middle East & Africa and Asia Pacific.

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Market Participants:

Key players in the global aerospace and defense fuel market include Chennai Petroleum Corp. Ltd., Kuwait Aviation Fueling Co., Reliance Industries Ltd., Royal Dutch Shell Plc., Hindustan Petroleum Corp. Ltd., Essar Oil Ltd., Bharat Oman Refineries Ltd., Sinopec and Indian Oil Corporation Ltd. among others.


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