The aerospace and defense fuel market may record a stable growth across the forecast period of 2019-2028 due to a plethora of factors, with the growing numbers of economical aircraft in the aviation industry being one of the prime factors. According to some statistics, air traffic may increase considerably across the forecast period barring the COVID-19 lockdown period.
The SARS-CoV-2 outbreak has disrupted the global aviation industry and has a direct impact on the growth rate of the aerospace and defense fuel market. The post-lockdown era may hopefully see the aerospace and defense fuel market on the greener side as international travel resumes when countries ease border restrictions. Meanwhile, the defense sector continues to boost the growth of the aerospace and defense fuel market as the demand for surveillance aircrafts increases.
This upcoming report on the aerospace and defense fuel market provides an in-depth analysis of the current market situation. The report covers components like competitive landscape, key players, regional analysis, and ongoing trends. The report also offers thorough research on how the COVID-19 pandemic will impact the aerospace and defense fuel market. The segmental study enables an individual to thoroughly understand the aerospace and defense fuel market.
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Aerospace and Defense Fuel Market: Competitive Analysis and Notable Developments
Competitors in the aerospace and defense fuel market are coming up with new technologies to introduce sustainability across the aviation sector. The growing environmental concern across the globe has triggered the use of sustainable fuels across all sectors including the aviation sector. Various formulations and technologies are implemented to increase the efficiency of the fuel. Hence, such developments are expecting to boost the growth rate of the aerospace and defense fuel market greatly.
Activities like mergers and acquisitions help various players in the aerospace and defense fuel market retain their market position and sometimes, expand their foothold in the aerospace and defense fuel market. Some well-entrenched players in the aerospace and defense fuel market are Reliance Industries Ltd., Bharat Oman Refineries Ltd., Kuwait Aviation Fueling CO., Royal Dutch Shell Plc., Sinopec, Chennai Petroleum Corp. Ltd., and Hindustan Petroleum Corp. Ltd.
- Researchers have developed a novel process to convert sugar and organic molecules obtained from biomass called ketones into compounds that could assist greatly in the production of sustainable aviation fuel.
- Sybhelion, a company established by a group of researchers at the federal technology institute, is on the verge of creating a zero-emission fuel mechanism for the aviation sector. This development highlights the growing research and development activities in the aerospace and defense fuel market.
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Aerospace and Defense Fuel Market: Key Trends
The use of hydrogen as an additive to aviation fuel is expecting considerable traction across the aerospace and defense fuel market. Hydrogen helps in entirely removing the CO2 emissions and also can remove other greenhouse emissions. Therefore, the hydrogen added aerospace fuel may bring considerable growth for the aerospace and defense fuel market.
Aerospace and Defense Fuel Market: Regional Outlook
The aerospace and defense fuel market are geographically segmented into Asia Pacific, North America, Central and South America, the Middle East and Africa, and Europe. North America may emerge as an important arena of growth for the aerospace and defense fuel market.
Asia Pacific is also a fast-emerging region with the continuous expansion of military aircraft and various government initiatives for the civil aviation industry is bringing good growth opportunities for the aerospace and defense fuel market in the region. A classic instance is the UDAN program by the Government of India to encourage the use of domestic flights at affordable rates to strengthen regional connectivity across India.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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