Sustainable Aviation Fuel Market to reach USD 6,261.9 million by 2030, registering a CAGR of 56.4% – valuates reports.
Sustainable Aviation Fuel Market by Fuel Type (Biofuel, Hydrogen Fuel, and Power to Liquid Fuel), Aircraft Type (Fixed Wings, Rotorcraft, and Others) and Platform (Commercial Aviation, Military Aviation, Business & General Aviation, and Unmanned Aerial Vehicle): Global Opportunity Analysis and Industry Forecast, 2021–2030. It is published in Valuates Reports under the Renewable & Alternative Energy Category.
The global sustainable aviation fuel market was valued at USD 72.1 million in 2020 and is projected to reach USD 6,261.9 million by 2030, registering a CAGR of 56.4% from 2021 to 2030.
The goal of SAF is to recycle carbon from current sustainable biomass or gases into jet fuel in order to replace fossil jet fuel refined from petroleum crude oil. The goal of SAF is to recycle carbon from current sustainable biomass or gases into jet fuel in order to replace fossil jet fuel refined from petroleum crude oil. IATA member airlines and the aviation industry as a whole are committed to meeting aggressive emissions reduction targets.
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Sustainable aviation fuels (SAF) have been identified as a vital component in achieving these objectives. Using sustainable aviation fuels to meet the industry’s climate targets will require government backing.
Major factors driving the growth of the sustainable aviation fuel market are:
Factors such as an increase in the number of airline passengers combined with an increase in disposable income, an increase in air travel, and an increase in synthetic lubricant use all contribute to the sustainable aviation fuel market growth.
Furthermore, the development of environmentally friendly and safe aviation lubricants, as well as the rise in demand for low-density lubricants to reduce weight, are likely to provide numerous opportunities for sustainable aviation fuel market expansion throughout the forecast period. Usage of sustainable aviation fuels results in positive brand awareness, better customer retention and adherence to government green initiatives.
Sustainable Aviation Fuel Market To Reach USD 6,261.9 Million By 2030, Registering A CAGR Of 56.4% – Valuates Reports, BANGALORE, India, September 16, 2021
