Reducing carbon emissions is a top priority for the aviation industry. Find out how Sustainable Aviation Fuel is shaping the future of air travel.
—
The global sustainable aviation fuel market size is expected to reach USD 6,188.2 Million at a revenue CAGR of 71.0% in 2028, according to latest analysis by Emergen Research.
In the upcoming years, the market for Sustainable Aviation Fuel (SAF) is anticipated to increase significantly as a result of a number of factors, including rising government support and rising environmental concerns. A type of biofuel called sustainable aviation fuel is produced using feedstock’s like municipal and agricultural waste as well as other renewable resources. The growing desire for environmentally friendly transportation solutions is one of the main factors driving the market for sustainable aviation fuel. The aviation sector is under more and more pressure to find environmentally friendly solutions as the world’s population keeps expanding and demand for air travel rises. As a result, interest in sustainable aviation fuel is rising as a means of lowering carbon emissions and improving the sustainability of air travel.
Government assistance for environmentally friendly flying is another major market factor. Governments all over the globe are offering incentives to encourage the use of sustainable aviation fuels as they recognise how important it is to reduce carbon emissions from the aviation industry. For instance, the US Department of Energy recently announced the funding of 22 projects totalling $64 million in order to advance the development and application of sustainable aviation fuels. The Sustainable Aviation Fuel Market has a number of growth-promoting aspects, but there are also a number of potential barriers to its expansion. The industry’s high manufacturing costs as compared to conventional aviation fuel are one of its biggest problems. A significant market barrier is the absence of infrastructure for the production and delivery of sustainable aviation fuel.
Request Free Sample Copy @ https://www.emergenresearch.com/request-sample/807
The market for sustainable aviation fuel is expanding as a result of technological developments. Producing biofuels from renewable sources is becoming simpler and more economical as new technologies are developed. As a result, the production of sustainable aviation fuel is rising, which is predicted to lower its price and raise its parity with conventional aviation gasoline. Rising government backing, expanding environmental concerns, and technological improvements are all projected to contribute to the Sustainable Aviation Fuel Market’s significant expansion in the years to come. However, the industry continues to face significant obstacles from the high cost of production and a lack of infrastructure. The US Department of Energy estimates that using sustainable aviation fuel by 2050 could cut carbon emissions from the aviation industry by up to 80%. The market for sustainable aviation fuel is anticipated to expand over the next several years as a result of rising demand for eco-friendly transportation solutions and mounting pressure to cut carbon emissions.
Sustainable Aviation Fuel Market Segmentation:
The Sustainable Aviation Fuel Market can be segmented by product type, production method, and application. Among the product type segments, the market is divided into Biofuel, Hydrogen Fuel, and Others. The Hydrogen Fuel segment is expected to expand rapidly over the forecast period due to its potential to significantly reduce carbon emissions in the aviation industry. One of the main drivers for the growth of this segment is the increasing demand for low-carbon alternatives to traditional aviation fuels.
The market can also be segmented by production method, including Fischer-Tropsch Synthetic Paraffinic Kerosene (FT-SPK), Hydroprocessed Esters and Fatty Acids (HEFA-SPK), Hydroprocessed Fermented Sugars to Synthetic Isoparaffins (HFS-SIP), Alcohol-to-Jet Synthetic Paraffinic Kerosene (ATJ-SPK) [ethanol], Alcohol-to-Jet Synthetic Paraffinic Kerosene (ATJ-SPK) [isobutanol], and Catalytic Hydrothermolysis Synthetic Jet Fuel (CHJ). The FT-SPK segment contributed a significantly large revenue share to the global market in 2020 due to its ability to produce a high-quality, drop-in replacement for traditional aviation fuels.
The Sustainable Aviation Fuel Market can also be segmented by application, including Military Aviation, Commercial Aviation, Unmanned Aerial Vehicle, and General & Business Aviation. The military segment accounted for a significantly robust revenue share in 2020 due to the high demand for sustainable aviation fuel by military organizations around the world. One of the key drivers for the dominance of the military segment is the increasing recognition of the importance of reducing carbon footprints by military organizations.
The report also provides a regional analysis of the market, with a focus on North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/sustainable-aviation-fuel-market
Some Key Highlights from the Report
· In July 2021, Rolls-Royce signed a definitive long-tern partnership agreement with Shell for advancing due to the Sustainable Aviation Fuel Market. Under the partnership, Rolls-Royce will work with Shell to develop Sustainable Aviation Fuel solutions that meet the technical specifications of Rolls-Royce jet engines. The partnership aims to accelerate the adoption of Sustainable Aviation Fuel by the aviation industry.
· Among the product type segments, hydrogen fuel segment revenue is expected to expand at a rapid rate over the forecast period due to its potential to significantly reduce carbon emissions in the aviation industry. Hydrogen fuel is a promising alternative to traditional aviation fuels as it has the potential to produce zero carbon emissions when burned. The use of hydrogen fuel in the aviation industry is still in the early stages of development, but it is gaining traction as a potential solution to the industry’s carbon emissions problem.
· Among the production method segments, the Fischer-Tropsch Synthetic Paraffinic Kerosene (FT-SPK) segment contributed a significantly large revenue share to the global market in 2020 due to its ability to produce a high-quality, drop-in replacement for traditional aviation fuels. Fischer-Tropsch Synthetic Paraffinic Kerosene (FT-SPK) is produced through a gas-to-liquid (GTL) process that converts natural gas or other carbon-based feedstocks into a synthetic liquid fuel. The resulting fuel is a high-quality, low-sulfur, and low-aromatic hydrocarbon that can be used as a direct replacement for traditional aviation fuel.
· Among the application segments, the military segment accounted for a significantly robust revenue share in 2020 due to the high demand for sustainable aviation fuel by military organizations around the world. The military sector is a major consumer of aviation fuel, and as such, it has a significant impact on the environment. Military organizations are increasingly recognizing the importance of reducing their carbon footprint and are turning to Sustainable Aviation Fuel as a way to achieve this.
· Some major players in the market report include Amyris Inc., Aemetis Inc., Neste, SkyNRG BV, LanzaTech Inc., Cummins Inc., Gevo Inc., Avfuel Corporation, Sasol Limited, and Velocys.
Explore Our Report on
About Us: Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Info:
Name: Eric Lee
Email: Send Email
Organization: Emergen Research
Address: 14671 110 Avenue, Surrey, British Columbia, V3R2A9
Phone: 604757975
Website: https://www.emergenresearch.com/
Release ID: 89095502
