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Aviation biofuel is a biofuel used for aircraft. It is considered by some to be the primary means by which the aviation industry can reduce its carbon footprint. Aviation is one of the fastest-growing sectors driven by a rapidly expanding global middle class, especially in developing countries, as well as the increasing penetration of low-cost carriers. The aviation fuel market influenced extremely by the growing amount of international travelers and fluctuations in oil and gas prices. Demand is driven primarily through commercial and military applications in emerging response to the air traffic and aircraft fleet. One of the market drivers of the aviation fuel market is increasing demand for air cargo transport in terms of volume and freight traffic.
The global aviation biofuels market is categorized by Fischer-tropsch and hydrogenated vegetable oil production technology. Among which the hydrogenated vegetable oil segment is anticipated to dominate the worldwide market due to the primary source of raw material for first-generation aircraft biofuel manufacturing and generation. Based on the application, the global aviation biofuel market is segmented into commercial aviation and military aviation. Because of the growing adoption of biofuels as a replacement for standard fuels, the commercial aircraft segment is anticipated to dominate the worldwide market.
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Inclination towards the target to reduce carbon emissions has played a significant role in driving the aviation biofuels market. Among gaseous biofuels, electrification and liquid biofuels, the most sophisticated replacement for the aviation industry are liquid biofuels, due to its high specific energy content and to reduce carbon emissions. However, the development of the aviation biofuel industry may be affected by rigid legislation to keep standard requirements in the production of aviation biofuel. This challenge can be overcome over the prediction era with innovative techniques.
Some of the major companies that are present in aviation biofuels market are Red Rock Biofuels, Vega Biofuels, GEVO, PetroSun, Inc., Archer Daniels Midland Company, Honeywell International Inc., Targray Technology International Inc., Argent Energy, KFS Biodiesel GmbH & Co. KG, Shirke Energy, POET LLC, Novozymes, Enerkem, LanzaTech, ZeaChem, and Amyris Fuels.
· Hydrogenated Vegetable Oil
· Military Aviation
· Commercial Aviation
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, and Rest of Latin America)
· Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
The global aviation biofuels market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America aviation biofuels market is expected to be a significant player as the U.S. civil aviation industry is projected to hold a substantial share of value in the aviation biofuel industry. The strategic expansion of the aviation biofuel industry, together with the Federal Aviation Administration (FAA) is anticipated to boost biofuel usage in the region. European nations are expected to witness robust growth in the aviation biofuel market in the coming decade. Oslo City, Norway has become the first airport in the world to supply jet biofuel to all airlines, providing it on-tap. Such a trend of swapping into bio port for the supply of aviation biofuel is expected to increase the aviation biofuel market in this region along with other nations like Australia. It is anticipated that developing countries in the Asia-Pacific, such as India and China, will achieve essential possibilities in the supply chain soon to provide feedstock for the production of aviation biofuel.
Furthermore, China's goal of producing 7.5 billion gallons of aviation biofuel per year is anticipated to offer essential possibilities in the future for the aviation biofuel industry. In Mexico and South Africa, transport biofuel industries are at an early stage. Therefore, market development and technology leapfrogging are needed to get on track with the SDS (Safety Data Sheets).
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