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PORTLAND, ORAGON, UNITED STATES, August 4, 2022 /EINPresswire.com / -- According to a recent report published by Allied Market Research, titled,“sustainable aviation fuel market by fuel type, aircraft type, and platform: global opportunity analysis and industry forecast, 2021–2030,” the global sustainable aviation fuel market was valued at $72.10 million in 2020, and is projected to reach $6,261.93 million by 2030, registering a CAGR of 56.4% from 2021 to 2030.
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Numerous developments that are carried out by top manufacturers such as Aemetis, Inc., Avfuel Corporation, and Fulcrum Bioenergy toward offering sustainable aviation fuel systems, which creates a wider space for growth of the sustainable aviation fuel market. For instance, in August 2021, Aemetis announced that it is developing the Carbon Zero Sustainable Aviation Fuel (SAF) and renewable diesel fuel bio-refineries in California from renewable oils and orchard and forest waste. Similarly, in July 2021, Avfuel Corporation has collaborated with Million Air Burbank to provide its customers with a consistent supply of Neste MY Sustainable Aviation Fuel (SAF). Similar developments carried out by other companies supplement growth of the market across the globe.
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Factors such as rise in number of airline passengers, coupled with increased disposable income, increase in air transportation, and increase in consumption of synthetic lubricants supplement growth of the global sustainable aviation fuel market. However, fluctuations in crude oil prices and contamination of lubricants are the factors that are expected to hamper growth of the market during the forecast period. Moreover, development of ecofriendly and safe aviation lubricants and rise in demand for low density lubricants for reduced weight are the factors that are expected to create numerous opportunities for growth of the market during the forecast period.
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Key Findings Of The Study
By fuel type, the power to liquid fuel segment is expected to register a significant growth during the forecast period.
Depending on aircraft type, the others segment is anticipated to exhibit significant growth in the near future.
Depending on platform, the unmanned aerial vehicle segment is anticipated to exhibit significant growth in the near future.
Asia-Pacific is anticipated to register the highest CAGR.
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About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of ''Market Research Reports'' and ''Business Intelligence Solutions.'' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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