MEA Aviation Fuel Market Growth, Trends, Share, CAGR Status, Demand, Challenges, Future Opportunities and Forecast till 2023-2033: SPER Market Research
Aviation fuel comes in a variety of forms and is manufactured from refined petroleum to power aircraft. The expansion of the aviation sector in many developing countries and the growing appeal of air travel are the main factors driving the rising demand for aviation fuel. Due to the latest advancements in aviation biofuels and the growing need for low-cost carriers, a substantial number of opportunities are expected to present themselves to all market participants throughout the study period. The market for aviation fuel may be hampered by elements like unstable crude oil prices and strict environmental regulations.
According to SPER market research, ‘Middle-East and Africa Aviation Fuel Market Size – By Fuel Type, By Application – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Middle-East and Africa Aviation Fuel Market is predicted to reach USD XX billion by 2033 with a CAGR of 14.2%.
An increase in the number of air travelers, rising disposable income, and improving economic conditions are some of the key market drivers. Recent drops in airfare have contributed to this growth as well. The demand for aviation fuel is predicted to increase as a result of recent and impending deals for fighter jets in a number of the region’s countries.
Middle Eastern nations will need to purchase more than 2,600 new aircraft over the course of the next 20 years in order to accommodate the region’s growing air traveler population. Aviation fuel market participants ought to be ready for opportunities this big.
The expanding demand for air travel is also influenced by the population growth and economic development of the Middle East and Africa.
There are many challenges facing the MENA Commercial Aircraft Aviation Fuel Market. The high and unstable cost of aviation fuel is expected to place restrictions on the market.
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Furthermore, before approving the use of technical certifications in aircraft engines, the SAF thoroughly checks them. Strict approval processes are applied to each step of the SAF market’s value chain for application purposes. The cost of SAF approval is increased, though, by the quantity of fuel needed for the testing parameters and the number of parties involved. These factors may also have impeded the growth of the market.
Impact of COVID-19 on Middle East and Africa Aviation Fuel Market
The Middle East and Africa’s aviation fuel market has been significantly impacted by the COVID-19 pandemic. The region’s need for aviation fuel significantly decreased as a result of severe travel restrictions, lockdowns, and a sharp decline in air travel. The forced landing of airline fleets resulted in a significant reduction in fuel consumption. The aviation sector’s recovery was hindered by economic uncertainties and challenges, which further compounded the decline. The strict actions taken by the governments of the Middle East and Africa to stop the virus’s spread caused a prolonged period of low demand for air travel. The region’s aviation sector was dealing with unheard-of financial difficulties, which made cost-cutting and operational changes necessary.
MEA Aviation Fuel Market Key Players:
Furthermore, The United Arab Emirates is currently leading the market in the region and is probably going to maintain its dominance because it has the largest market size in the Middle East and Africa. Additionally some of the market players are: Emirates National Oil Company, Exxon Mobil Corporation, Repsol SA, Shell PLC, TotalENergies SE.
Middle-East and Africa Aviation Fuel Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Fuel Type: Based on the Fuel Type, Middle-East and Africa Aviation Fuel Market is segmented as; Air Turbine Fuel, Aviation Biofuel.
By Application: Based on the Application, Middle-East and Africa Aviation Fuel Market is segmented as; Commercial, Defence, General Aviation.
By Region: This research also includes data for United Arab Emirates, Saudi Arabia, Qatar, Egypt, South Africa, Rest of Middle-East and Africa.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Middle East Sustainable Aviation Fuel Market Challenges
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