{"id":23430,"date":"2022-09-19T14:24:09","date_gmt":"2022-09-19T14:24:09","guid":{"rendered":"https:\/\/saj.pachecostudios.com?p=23430"},"modified":"2022-09-19T14:24:11","modified_gmt":"2022-09-19T14:24:11","slug":"aviation-fuel-market-to-garner-momentum-in-north-america-with-the-implementation-of-supportive-regulatory-initiatives","status":"publish","type":"post","link":"https:\/\/stateaviationjournal.com\/index.php\/national-news\/aviation-fuel-market-to-garner-momentum-in-north-america-with-the-implementation-of-supportive-regulatory-initiatives\/%20","title":{"rendered":"Aviation Fuel Market to Garner Momentum in North America with the Implementation of Supportive Regulatory Initiatives"},"content":{"rendered":"\n

\u201cThe aviation fuel market size is anticipated to cross USD 325 billion in annual value by 2028, powered by the increasing preference for air travel and the improving middle-class living patterns,\u201d says Global Market Insights Inc.<\/em><\/p>\n\n\n\n

With significant advancements in the aerospace industry and\nthe rising popularity of air transport, the demand for aviation fuels and\nbiofuels is depicting a prolific rise. Aviation fuels are primarily specialized\ntypes of petroleum-based fuel that are used for powering aircraft. Often\nrefined to an optimum specification under greater quality control in comparison\nto their counterparts employed in less critical applications, these fuels\ncomprise additives for reduced risk of liquid fuel icing or explosion of fuel\nvapor at different temperatures.<\/p>\n\n\n\n

In the last couple of decades, with the increasing consumption of kerosene to operate thousands of aircraft, the aviation industry has been generating millions of tons of CO2 emissions. This has in turn increased the importance of alternative energy sources for energy security and limiting negative environmental impact. In consequence, the aviation fuel industry<\/a> is expected to gain traction in the near future, mainly ascribing to the surging governmental support for more sustainability and locking the industry’s climate goals. Of late, multiple fuel-related research activities are underway to alleviate the negative emissions lifecycle while barring significant changes to the fuel supply systems and engines.<\/p>\n\n\n\n

The rising emphasis of several commercial airlines on\nplummeting the net zero carbon emissions is expected to pave the way for\nincreased market growth. To illustrate, in August 2022, Alaska Airlines inked\nan agreement with Gevo Inc., a well-known biofuel company to make a significant\ninvestment in sustainable aviation fuel (SAF). The airline purchased its most\nsubstantial SAF offtake commitment to tap 185 million gallons over five years\nstarting in 2026.<\/p>\n\n\n\n

Increase in investments to assist aviation fuel market development in the commercial sector <\/strong><\/p>\n\n\n\n

The commercial aviation industry is long witnessing an\nevolution with regards to the usage of kerosene-based fuels to more sustainable\noptions. If estimates are to be believed, over 437,660 commercial flights are\noperated with the help of sustainable aviation fuel since 2011. The industry\nhas also set long-term goals for CO2 emission reduction, in midst of managing\nan operational as well as economic recovery from COVID-19. <\/p>\n\n\n\n

The increasing attention of some of the prominent fleets of\nairlines on investment strategies is anticipated to increase fuel\nproliferation. To illustrate, in June 2022, Qantas Airways partnered with\nAirbus to invest up to $200 million in accelerating the development of the\nsustainable aviation fuels industry across Australia to embrace the airline’s\ngoal of lowering carbon emissions.<\/p>\n\n\n\n

Rising technological advancements and other production\ninitiatives are also assisting in catering to the growing fuel demand from the\nairlines. For instance, in September 2021, Chevron Corp announced its plans of\nproducing a test batch of SAF and selling it to Delta Air Lines at the Los\nAngeles International Airport. The initiative is a part of a partnership\nbetween Delta and Chevron and Google and aims to leverage cloud technology to\ntrack SAF test batch emissions.<\/p>\n\n\n\n

North America to emerge as a revenue-generating hub for the aviation fuel industry<\/strong><\/p>\n\n\n\n

The rapidly burgeoning preference for air travel and the surging\nconsumer spending are paving the way for increased fuel adoption in North\nAmerica. The IATA (International Air Transport Association) suggests that the\nair transport industry, comprising airlines, and its supply chain is estimated\nto support $641 billion of GDP in the U.S. According to the FAA (Federal\nAviation Administration), aviation gasoline (avgas) is the most used aviation\nfuel in piston-engine aircraft. The thriving attention of major U.S. passenger\nand cargo carriers toward net-zero carbon emissions has also steered the rise\nin the number of various fuel-oriented initiatives. <\/p>\n\n\n\n

The growing government support for curbing emissions across\nthe transport sector is acting as a significant booster for the ramped-up\nproduction of aviation fuels. In September 2021, the airlines in the U.S.\npledged to deploy 3 billion gallons by 2030, following a commitment from the\nWhite House for funding, producing, and incentivizing aviation biofuel. In\nanother instance, in June 2022, Southwest Airlines Co. invested in SAFFiRE\nRenewables, as part of the project backed by the Department of Energy (DOE) for\ndeveloping and producing scalable, sustainable aviation fuel. <\/p>\n\n\n\n

In a nutshell, the aviation industry is making vast\ninvestments in innovative fuel concepts to provide environmental benefits,\nwhile solutions, including lower-carbon aviation fuels and hydrogen, are still\nunder research and development. SAF is increasingly opted by most airlines as\nit is known to reduce emissions by over 80% during its full lifecycle. This is\nbecause it releases fewer conventional pollutants, sulfur oxides and\nparticulates, carbon monoxide, and unburned hydrocarbons. Significant\nimprovements in battery technologies for electric flight are also on the rise.\nAs more and more fuel efficiency programs come to the forefront, aviation fuels\nwill witness escalating demand in the forthcoming years.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cThe aviation fuel market size is anticipated to cross USD 325 billion in annual value by 2028, powered by the increasing preference for air travel and the improving middle-class living patterns,\u201d says Global Market Insights Inc. With significant advancements in the aerospace industry and the rising popularity of air transport, the demand for aviation fuels […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[115],"tags":[],"class_list":["post-23430","post","type-post","status-publish","format-standard","hentry","category-national-news"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/23430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/comments?post=23430"}],"version-history":[{"count":1,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/23430\/revisions"}],"predecessor-version":[{"id":23431,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/23430\/revisions\/23431"}],"wp:attachment":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/media?parent=23430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/categories?post=23430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/tags?post=23430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}