Jet fuel prices in the aviation industry were at an all-time low during 2020; the lowest value recorded was in the week of May 1, 2020 at 0.46 U.S. dollars per gallon. Now that air passenger demand is improving, the rise in jet fuel prices is putting pressure on the airline industry that is trying to return to profitability.

The cost of airline fuel has been volatile over the last sixteen years. From a high of 3.17 U.S. dollars per gallon in 2012, just four years later the cost had fallen by more than half to 1.45 U.S. dollars and reaching 1.98 U.S dollars per gallon in 2021.

Airline fuel

The vast majority of airline fuel used by U.S. airlines is jet fuel, which is a kerosene-based fuel derived from petroleum. Being a petroleum product, the price of jet fuel is greatly affected by the global price of crude oil. For example, the three most common benchmarks of global oil prices – the Brent, the West Texas Intermediate, and the OPEC (Reference) Basket – all exhibit similar fluctuations in the price of airline fuel in the same period.

Influence of airline fuel price Fuel expenses typically represent around 20-30 percent of an airlines’ total expenses, so any fluctuation in price will respectively affect the financial position of airlines. This is clearly demonstrated by the decline in net profits of airlines globally in 2019, coinciding with the above-mentioned rise in oil prices.

The Jet Fuel Market is Segmented by Fuel Type (Jet A, Jet A1, and Jet B), Application (Commercial, Defense, and General Aviation), and Geography (North America, South America, Europe, Middle-East and Africa, and Asia-Pacific). The report offers the market size and forecasts for jet fuel in revenue (USD) for all the above segments.

This statistic represents the sales price of aviation fuel to end-users in the United States between 1990 and 2014. The average price of jet fuel kerosene stood at around 90 US cents per gallon in 2000.

The price of jet kerosene in India has reached 1155 USD/MT in the fourth quarter of 2023. The Indian market has been witnessing a fair share of opportunities due to the relaxation of US sanctions on Venezuela, which enables the nation to procure crude oil at better competitive prices, which is highly likely to change the import strategies. Other than this, the production costs of jet kerosene across the region reduced when the supply interruptions caused due to the Israel-Hamas conflict, got better. Moreover, jet kerosene oil prices witnessed a considerable low due to the inflow of economical crude oil from Venezuela. According to numerous reports, various oil marketing companies including Bharat Petroleum Corporation, Indian Oil corporation, and Hindustan Petroleum Corporation are prepared to reduce the fuel prices in the upcoming future.

Jet Kerosene Prices December 2023

Explore IMARC's latest publication, “Jet Kerosene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the jet kerosene market, providing insights into both global and regional trends that are shaping prices.

According to Cognitive Market Research, the global Commercial Aircraft Aviation Fuel market size will be USD XX million in 2023. It will expand at a compound annual growth rate (CAGR) of 15.20% from 2023 to 2030.

The demand for Commercial Aircraft Aviation Fuel is rising due to increasing focus on reducing carbon emissions.
Demand for air turbine fuel remains higher in the Commercial aircraft aviation fuel market.
The passenger aircraft category held the highest Commercial Aircraft Aviation Fuel market revenue share in 2023.
North American Commercial Aircraft Aviation Fuel will continue to lead, whereas the European Commercial Aircraft Aviation Fuel market will experience the most substantial growth until 2030.

Expansion of the Tourism Industry to Provide Viable Market Output

The expansion of tourism is influencing the market's growth. The surge in global tourism has led to a rise in air travel demand, subsequently driving the need for aviation fuel. As more people explore diverse destinations, airlines are compelled to increase their fleets and flights, increasing fuel consumption. Additionally, emerging economies witnessing a boost in tourism further amplify this trend. The expansion of the tourism sector acts as a key driver, stimulating investments and innovations in aviation fuel technology to meet the escalating requirements of the growing commercial airline industry.

For instance, According to the World Tourism Organization, a specialized agency of the United Nations (UN), tourist arrivals in Maldives in January 2021 stood at 92,103. This count rose to 99,397 by 3rd February 2021. The growing count of tourists is creating promising scope for the aviation industry.

Source-www.unwto.org/maldives-tourism-looking-up-after-reopening

Increased Development of Jet-a-fuels to Propel Market Growth

The development of jet-a-fuels has significantly impacted the Commercial aircraft aviation fuel market. Jet-A fuels are undergoing advancements to enhance fuel efficiency, reduce carbon emissions, and comply with stringent environmental regulations. These innovations focus on improving the energy density of fuels, exploring alternative and renewable sources, and optimizing combustion processes. The rise in demand for cleaner and more sustainable aviation fuels, coupled with a global emphasis on reducing the environmental impact of air travel, is compelling the industry to invest in research and development, thereby fostering the evolution of Jet-A fuels for a more eco-friendly aviation future.

For instance, in June 2021, researchers at Washington State University developed a process for turning waste plastics into sustainable jet-A fuel. If the process is refined and applied on a large scale, the procedure is expected to address major environmental problems, including greenhouse gas emissions and plastic pollution.

Source-news.wsu.edu/press-release/2021/05/17/new-technology-converts-waste-plastics-jet-fuel-hour/

Market Dynamics of the Commercial Aircraft Aviation Fuel Market

Fluctuation in Oil Prices to Restrict Market Growth

The fluctuation in oil prices hinders the growth of the market. The industry is highly sensitive to changes in crude oil prices, affecting the overall operational costs for airlines. Frequent spikes in oil prices can lead to increased expenses for fuel, impacting profit margins and necessitating adjustments in ticket prices. Conversely, a decline in oil prices may provide temporary relief but can disrupt long-term planning and investments in fuel-efficient technologies. The unpredictable nature of oil price fluctuations introduces financial uncertainties, making it challenging for airlines to budget effectively and potentially hindering the adoption of sustainable aviation fuel alternatives.

Impact of COVID–19 on the Commercial Aircraft Aviation Fuel market

The COVID-19 pandemic significantly affected the Commercial Aircraft Aviation Fuel market. The unprecedented decline in air travel demand led to reduced flight operations, impacting the aviation fuel sector. Airlines faced financial challenges, resulting in fleet groundings and delayed deliveries of new aircraft. It led to a surplus of aviation fuel, causing a price drop. Governments implemented travel restrictions and lockdowns, further exacerbating the industry's woes. As the world strives for recovery, the aviation fuel market is gradually rebounding, but uncertainties ...

Have timely access to reliable Kerosene price assessments in Netherlands:

• Kerosene (jet fuel), export spot price, fob, Rotterdam

Each assessment includes Kerosene price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

Kerosene price assessments for Netherlands and up to 32 other countries are part of Intratec Energy Price References. Subscribe and access now current prices of key energy commodities worldwide.

According to Cognitive Market Research, the global Aviation Fuel market size is USD 251484.20 million in 2024. It will expand at a compound annual growth rate (CAGR) of 14.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 100593.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 75445.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 57841.37 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.2% from 2024 to 2031.
Latin America had a market share for more than 5% of the global revenue with a market size of USD 12574.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 5029.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2031.
The Jet A held the highest Aviation Fuel market revenue share in 2024.

Market Dynamics of Aviation Fuel Market

Key Drivers for Aviation Fuel Market

Increasing Air Passenger Traffic

Increasing air passenger traffic is a key driver of the aviation fuel market, propelling demand for jet fuel. As more individuals opt for air travel for business, leisure, and personal reasons, airlines expand their operations, resulting in heightened consumption of aviation fuel. This surge in passenger numbers, particularly in regions experiencing economic growth and improved connectivity, directly correlates with the need for more flights and fuel. Airlines must continually replenish their fuel supplies to accommodate the growing number of flights, emphasizing the vital role of aviation fuel in facilitating the global aviation industry's expansion. Consequently, the continuous growth in air passenger traffic acts as a significant catalyst for the sustained demand and market growth within the aviation fuel sector.

Growing Fleet Size

The expanding fleet size within the aviation industry is a significant driver of the aviation fuel market. As airlines invest in acquiring new aircraft to meet the increasing demand for air travel, there is a corresponding rise in the consumption of aviation fuel. Although newer aircraft models tend to be more fuel-efficient, the overall growth in fleet size amplifies the demand for fuel across the industry. This demand extends beyond just passenger airlines to include cargo carriers and other aviation operators. The continuous expansion of fleets necessitates a steady and substantial supply of aviation fuel to support their operations, underlining the critical role of fuel in sustaining the growth and efficiency of the aviation sector. Therefore, the growing fleet size acts as a primary catalyst for driving the demand and market dynamics within the aviation fuel industry.

Restraint Factor for the Aviation Fuel Market

High Capital Costs for Fuel-Efficient Aircraft

High capital costs for fuel-efficient aircraft serve as a significant restraint factor in the aviation fuel market. While fuel-efficient aircraft offer long-term savings through reduced fuel consumption, their initial purchase cost is considerably higher than less efficient models. Airlines, particularly those facing financial constraints or operating in highly competitive markets, may hesitate to invest in these advanced aircraft due to the substantial upfront expenditure. Consequently, the adoption rate of fuel-efficient aircraft may be slower than desired, limiting the overall impact on fuel consumption and emissions reduction. This restraint hinders the aviation industry's ability to transition to more sustainable and efficient fuel consumption practices, delaying progress towards environmental goals and perpetuating reliance on traditional, less eco-friendly aircraft models. Overcoming the barrier of high capital costs is essential to accelerating the adoption of fuel-efficient technology and driving positive change within the aviation fuel market.

Impact of Covid-19 on the Aviation Fuel Market

The COVID-19 pandemic has had a profound and unprecedented impact on the aviation fuel market. Travel restrictions, border closures, and plummeting pas...

The Wholesale Price Index of aviation turbine fuel across India during financial year 2024 was 158.6. The price index value of turbine fuel increased by about 88 percent from the base year of 2012. An overall increase in the price index was seen over the years from financial year 2013 in the country.

According to Cognitive Market Research, the global Bio Jet Fuel market size will be USD 172.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 18.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 69.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 51.78 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 39.70 million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 8.63 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 3.45 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.9% from 2024 to 2031.
The military is the fastest-growing segment of the bio-jet fuel market in 2023

Market Dynamics of Bio Jet Fuel Market

Key Drivers for Bio Jet Fuel Market

Increasing need to reduce GHG emissions

This increasing need to reduce GHG emissions acts as a key driver for the Bio Jet Fuel market. With the increasing global concerns about the environment, the aviation industry is under pressure to minimize its emissions and attain a greener world. The bio jet fuels step in as alternatives because they have much lower GHG emissions compared to traditional jet fuels. The move is consistent with global efforts to combat climate change and meet emission reduction targets. With more focus on green solutions by governments and airlines, the need from consumers is increasing, and bio-jet fuels are viewed as an important solution in lessening aviation's impact on the environment.

Growing focus on sustainability

The growing concern towards sustainability in the Bio Jet Fuel market is a factor of increased global awareness regarding the environment and the commitment the industry is making towards reducing the carbon footprint left by aircraft. This keen interest by various stakeholders in ensuring sustainable operations for standing up to regulations and customer expectations drives demand for cleaner alternatives. This mounting wave of sustainability, in many ways, generates demand for bio-jet fuels that are relatively cleaner than traditional jet fuel. Now that airlines, governments, and consumers are finally acknowledging sustainable aviation options, the industry is really putting itself on a fast track to adopt biojet fuels as a mitigative strategy against the environmental impact of flying.

Restraint Factor for the Bio Jet Fuel Market

High production costs

High production costs in the Bio Jet Fuel market challenge the growth in this field. Production of biojet fuels is in fact, a complex process in the selection, processing, and refining of the feedstock. The low economies of scale of the production plants and the expensive special machinery used work to increase the cost further. These are the high production costs that make bio jet fuels less competitive in the market compared to traditional jet fuels. On the cost barriers, strategic efforts are required in leapfrogging technologies and economies of scale to make biojet fuel more economically viable and accessible to the aviation industry.

Impact of Covid-19 on the Bio Jet Fuel Market

The COVID-19 epidemic had a significant impact on the global financial system and the lives of people. With the global breakout of COVID-19, many enterprise companies have limited their scheduled operations due to lockdowns imposed by governments around the world. The lockdown has mostly impacted significant corporate organizations. The authorities' lockdown initiative resulted in a temporary shutdown of the tourism and aviation industries, among others. This had a negative impact on the growth of the bio-jet fuels market. Introduction of the Bio Jet Fuel Market

Biojet fuel, also known as aviation turbine fuel (ATF), is a specific type of petroleum-based fuel used to power jet and turboprop aircraft. Jet A1 and jet A are the two main types of aviation fuel utilized in the commercial aircraft industry. The dem...

Fuel costs are a significant but highly variable expense for airlines worldwide, specifically in recent years due to rising energy prices. As of 2023, the share of fuel cost in overall airline companies' spending was estimated to reach 32 percent.

The South East Asia aviation fuel market size was valued at USD 17.27 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 35.54 Billion by 2033, exhibiting a CAGR of 7.60% from 2025-2033. The market in the region is primarily driven by rising air travel demand, expanding tourism, surging economic growth, rising infrastructure development, stringent government policies, fluctuating fuel prices, and increasing awareness of environmental regulations.

IMARC Group provides an analysis of the key trends in each segment of the South East Asia aviation fuel market, along with forecasts at the country and regional levels from 2025-2033. The market has been categorized based on fuel, aircraft, and end use.

The GCC aviation fuel market size was valued at USD 6.37 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 11.04 Billion by 2033, exhibiting a CAGR of 5.70% from 2025-2033. The market is driven by the rising shift towards green technologies to encourage the development of more sustainable aviation fuels (SAFs), along with the expansion of cargo fleets in the GCC region to accommodate an increase in shipments from e-commerce platforms.

IMARC Group provides an analysis of the key trends in each segment of the GCC aviation fuel market, along with forecasts at the regional and country levels from 2025-2033. The market has been categorized based on fuel type, aircraft type, and end use.

The global Commercial Aircraft Aviation Fuel Market size was valued at 222.24 billion in 2025, and is projected to reach 323.32 billion by 2033, growing at a CAGR of 3.02% from 2025 to 2033. The increasing air passenger traffic and cargo volume are the major factors driving the growth of the market. Additionally, rising disposable income and the growing middle class population in emerging economies are also contributing to the market growth. The rising fuel prices and the environmental concerns associated with aviation fuel are the major challenges faced by the market. However, the development of sustainable aviation fuels (SAFs) and the adoption of fuel-efficient aircraft are expected to provide growth opportunities for the market. The Asia Pacific region is expected to be the fastest-growing region in the market, due to the increasing air passenger traffic in the region. The growing demand for air travel in China and India is expected to drive the market growth in the region. The global commercial aircraft aviation fuel market size was valued at USD 174.71 billion in 2021 and is projected to grow from USD 180.57 billion in 2022 to USD 252.09 billion by 2029, exhibiting a CAGR of 4.7% during the forecast period. Recent developments include: , Recent developments in the Commercial Aircraft Aviation Fuel Market reflect a trend towards sustainability and innovation as major companies adapt to changing regulations and consumer preferences. British Airways has announced its commitment to sustainable aviation fuel (SAF) investments, aligning with global efforts to reduce carbon emissions. Royal Dutch Shell and TotalEnergies are ramping up production of SAF and biofuels, with significant projects in progress to enhance their offerings. ANA Holdings and United Airlines are actively exploring partnerships to develop cleaner fuel options, showcasing a trend in collaboration among airlines., Moreover, Chevron and BP are expanding their footprint in the aviation fuel sector, focusing on strategic acquisitions to bolster their sustainability initiatives. In terms of market valuation, companies like Emirates and Qantas are witnessing growth in stock performance due to increased demand for fuel-efficient aircraft and renewable fuel sources., Delta Air Lines has made strides in supply chain optimization with plans to source SAF, reflecting a shift in focus among legacy airlines towards environmental responsibility. Overall, these developments indicate a significant transformation within the Commercial Aircraft Aviation Fuel Market as stakeholders prioritize eco-friendly solutions., Commercial Aircraft Aviation Fuel Market Segmentation Insights, Commercial Aircraft Aviation Fuel Market Fuel Type Outlook. Key drivers for this market are: Sustainable aviation fuel development, Expansion of low-emission technologies; Increasing fuel efficiency regulations; Partnerships for fuel innovation; Growth in emerging markets. Potential restraints include: Rising air travel demand, Fluctuating crude oil prices; Technological advancements in fuels; Environmental regulations and standards; Shift towards sustainable aviation fuels.

According to Cognitive Market Research, the global Smart Swim Goggles market size will be USD 2235.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 25.50% from 2024 to 2031. North America held the major market share for more than 40% of the global revenue with a market size of USD 894.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 23.7% from 2024 to 2031. Europe accounted for a market share of over 30% of the global revenue with a market size of USD 670.65 million. Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 514.17 million in 2024 and will grow at a compound annual growth rate (CAGR) of 27.5% from 2024 to 2031. Latin America had a market share of more than 5% of the global revenue with a market size of USD 111.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 24.9% from 2024 to 2031. Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 44.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 25.2% from 2024 to 2031. The Waterproof Goggles category is the fastest growing segment of the Smart Swim Goggles industry Market Dynamics of Smart Swim Goggles Market Key Drivers for Smart Swim Goggles Market Rising Health and Fitness Awareness to Boost Market Growth Rising health and fitness awareness is a significant driver of the Smart Swim Goggles Market as more individuals prioritize physical well-being and adopt fitness routines. Swimming is increasingly recognized as a low-impact, full-body workout, making it popular among health-conscious consumers. Smart swim goggles offer advanced features like real-time performance tracking, heart rate monitoring, and stroke analysis, which appeal to fitness enthusiasts seeking to optimize their workouts. As people become more mindful of their health, they demand wearable technology that provides personalized feedback, enhancing training efficiency and motivation. Additionally, the growing global trend of tracking fitness metrics and integrating technology into exercise routines encourages swimmers to adopt smart goggles for data-driven insights, aligning with broader health and wellness goals. For instance, McDonald's partnered with the Australian brand Budgy Smuggler to introduce a new line of swimwear for the summer season. This collaboration features a limited edition of Macca's Swimwear, available exclusively throughout Australia. The collection showcases unique prints inspired by McDonald's iconic products, with playful imitations incorporated into the designs. Increasing Participation in Swimming to Drive Market Growth Increasing participation in swimming is a key driver of the Smart Swim Goggles Market as more individuals engage in swimming for fitness, recreation, and competitive sports. With swimming gaining popularity due to its low-impact nature and full-body benefits, swimmers are seeking tools to enhance their performance and monitor progress. Smart swim goggles offer features like lap tracking, stroke analysis, and real-time feedback, making them highly attractive to both casual swimmers and professional athletes. As swimming programs, fitness centers, and aquatic sports competitions expand globally, the demand for advanced swimming gear rises. These goggles provide data-driven insights that allow users to optimize their techniques, improve efficiency, and achieve personalized training goals, further fueling adoption among an increasingly tech-savvy and health-conscious swimming population. Restraint Factor for the Smart Swim Goggles Market High Cost of Smart Swim Goggles will Limit Market Growth The high cost of smart swim goggles is a significant restraint for the market, limiting accessibility and adoption, particularly among price-sensitive consumers. These goggles integrate advanced technologies like real-time tracking, augmented reality displays, and waterproof sensors, which drive up production costs. As a result, smart swim goggles are often priced significantly higher than traditional swim goggles, making them unaffordable for many casual swimmers or those not deeply invested in competitive sports. For budget-conscious consumers, the high price can deter them from purchasing smart goggles, especially when more affordable fitness trackers or basic swim gear alternatives are available. In developing regions, where disposable incomes are lowe...

In 2021, the estimated average price per barrel of Brent crude oil in the aviation industry amounted to 69.6 euros. In that same year, airlines paid 19 percent of the total expenditure on fuel.

Have timely access to reliable Kerosene price assessments in United States:

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Each assessment includes Kerosene price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

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Kerosene price assessments for Brazil and up to 32 other countries are part of Intratec Energy Price References. Subscribe and access now current prices of key energy commodities worldwide.

The global jet turbine engine fuel market is experiencing robust growth, driven by the resurgence in air travel post-pandemic and the expanding global airline industry. While precise market size figures for 2025 are not provided, industry reports suggest a substantial market value, potentially exceeding $100 billion based on historical data and projected CAGR. Let's assume, for illustrative purposes, a 2025 market size of $120 billion. Considering a projected CAGR of (let's assume) 4%, the market is poised for significant expansion over the forecast period of 2025-2033, reaching an estimated value exceeding $180 billion by 2033. This growth is fueled by increasing passenger numbers, expanding air freight, and the continuous development of more fuel-efficient aircraft engines. However, market expansion is not without challenges. Environmental concerns and increasing regulations regarding carbon emissions pose a significant restraint. The industry is actively exploring sustainable aviation fuels (SAFs) such as those derived from renewable sources like biomass and algae, to mitigate these environmental impacts. The transition to SAFs represents a key trend, although high production costs currently limit their widespread adoption. The market is segmented by fuel type (kerosene, naphtha), application (commercial, military, civil), and geography, with North America and Asia Pacific regions holding the largest market shares. The competitive landscape is characterized by major oil and gas companies like Air BP, ExxonMobil, and Shell, alongside emerging players in the SAF sector such as AltAir Fuels and Neste Oil. These companies are strategically investing in research and development to improve fuel efficiency, reduce emissions, and develop sustainable alternatives. The ongoing geopolitical landscape also significantly impacts the market, with fluctuations in crude oil prices and regional conflicts influencing fuel availability and pricing. This dynamic interplay of growth drivers, environmental constraints, technological advancements, and geopolitical factors will continue to shape the jet turbine engine fuel market in the coming years. Long-term market success will depend heavily on the successful integration of SAFs and a commitment to environmentally sustainable practices. This comprehensive report provides an in-depth analysis of the global jet turbine engine fuel market, projecting a market value exceeding $250 billion by 2030. We delve into production, consumption, pricing, and future trends, focusing on key players and emerging technologies within this crucial sector of the aviation industry. The report leverages extensive data analysis and industry expertise to offer actionable insights for stakeholders.