Global Aviation Alternative Fuels Market 2016-2020
About Aviation Alternative Fuels
Alternative fuels or biofuels have been acknowledged as the primary option that can facilitate the aviation industry to achieve its targets. After a multi-year technical review from aircraft and engine manufacturers and oil companies, biofuels were approved for commercial use, in July 2011. Since then, some airlines have experimented with the use of biofuels on commercial flights. Biofuels produced from biomass such as algae, Jatropha, and Camelina can reduce the carbon footprint of aviation fuel by up to 80% over the lifecycle of an aircraft. Of late, the focus of the aviation industry has shifted to the sustainable second-generation biofuels that do not use food crops as feedstock nor are major consumers of prime agricultural land or fresh water.
Technavio’s analysts forecast the global aviation alternative fuels market to grow at a CAGR of 4.29% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global aviation alternative fuels market for 2016-2020. To calculate the market size, the report presents the market landscape and a corresponding detailed analysis of the five major vendors operating in the market, classified on the basis of their sales, product innovations, and geographic coverage.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Aviation Alternative Fuels Market 2016-2020
Technavio recognizes the following companies as the key players in the global aviation alternative fuels market: GE Aviation, Rolls-Royce, SkyNRG, Swedish Biofuels, and UOP.
Other prominent vendors in the market are: Amyris, AltAir Fuels, Byogy Renewables, Fulcrum BioEnergy, and Gevo.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is evolution of bio-ports. With the fluctuating global ATF prices along with the increasing pressures for GHG emissions reduction, biofuels have been considered as an appropriate substitute to achieve carbon-neutral growth. Although the present-day aircraft are 70% more fuel-efficient than the traditional ones, they consume approximately two billion barrels of jet fuel annually and result in high carbon emissions. Since, the aviation biofuels are both expensive and rare to find, their continued use is still a question.”
According to the report, one of the primary drivers in the market is growing GHG emissions. CO₂ emissions are significantly increasing year-over-year. Combustion of fossil fuels (such as natural gas, coal, and oil) for energy, transportation, and certain industrial processes are some prominent examples that generate CO₂ emissions. In 2014, the US in particular, emitted 5,406 million metric tons of CO₂ into the atmosphere. The primary source of CO₂ emissions in the US, China, and the EU-countries are the electricity and transportation industries. It is estimated that if the world adopts the smart energy (biofuels, solar, water, and wind energies) technologies, then CO₂ emissions could be reduced by 15% globally by 2020.
Further, the report states that one major challenge in the market is sparse availability of feedstock for biofuels. Biofuel can be synthesized from different feedstocks. Also, the quality of the biofuel is very much dependent on the feedstock used in the making of the fuel. A primary concern for the market is the scant availability of the required feedstock and the time required for the processing of biofuels.
GE Aviation, Rolls-Royce, SkyNRG, Swedish Biofuels, UOP, Amyris, AltAir Fuels, Byogy Renewables, Fulcrum BioEnergy, Gevo.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook