The global Sustainable Aviation Fuel Market is projected to reach USD 19,950.26 million by 2031, at a CAGR of 57.74%, from USD 520.62 million in 2022. The sustainable aviation fuel market is expected to continue to grow in the coming years due to the increase in the use of synthetic lubricants and aviation industry’s demand to reduce CO2 emissions is growing.

The market for sustainable aviation fuel (SAF) has grown as a viable way to lessen the negative environmental effects of conventional aviation fuels. Sustainable aviation fuel (SAF) is a greener option to fossil fuels since it is produced from renewable resources such as biomass, leftover cooking oil, and agricultural residues. With its launch, the aviation sector has made a significant step in cutting its carbon emissions. A varied and flexible supply chain is ensured by the multiple paths involved in SAF manufacturing, including alcohol-to-jet, hydroprocessing, and Fischer-Tropsch synthesis.

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In November 2023, Gulfstream Aerospace Corp. declared that it had successfully completed the first transatlantic flight in history on only sustainable aviation fuel (SAF). The Gulfstream G600 used for the journey took off from the company’s Savannah headquarters and landed at Farnborough Airport in England after 6 hours and 56 minutes.

In November 2023, USA BioEnergy, LLC and Southwest Airlines Co. have finalized an offtake agreement, paving the way for the procurement of up to 680 million gallons of environmentally friendly sustainable aviation fuel (SAF). Through the incorporation of this SAF alongside conventional jet fuel, the collaboration has the potential to yield a total of 2.59 billion gallons of net-zero1 fuel throughout the 20-year duration of the agreement. This initiative is expected to result in a substantial reduction of 30 million metric tons of CO2 emissions. Southwest® is set to commence the acquisition of SAF from the USA BioEnergy facility situated in close proximity to Bon Wier, Texas.

Segment Analysis and Market Dynamics

Based on fuel type, the global sustainable aviation fuel market is divided into biofuel, hydrogen fuel, power to liquid fuel. Biofuel is derived from renewable sources such as agricultural waste, algae, or used cooking oil, biofuels are considered a frontrunner in the sustainable aviation fuel (SAF) market. They can directly replace traditional jet fuels without requiring modifications to existing aircraft or infrastructure. Biofuels significantly reduce greenhouse gas emissions compared to conventional aviation fuels and have gained traction due to their compatibility with existing aircraft engines. Where, Hydrogen is gaining attention as a potential zero-emission fuel for aviation. It can be produced through electrolysis using renewable electricity or derived from sources like natural gas with carbon capture and storage. Hydrogen fuel cells generate electricity by combining hydrogen with oxygen, producing only water as a byproduct. However, challenges remain in terms of infrastructure development, storage, and the need for aircraft modifications to accommodate hydrogen propulsion systems. PtL fuels involve the conversion of renewable electricity into liquid fuels like synthetic kerosene or diesel. This process typically involves electrolysis to produce hydrogen and subsequent conversion into liquid fuels through processes like Fischer-Tropsch synthesis. PtL fuels offer energy density similar to traditional jet fuels and can utilize excess renewable energy. However, production costs and scalability pose challenges for widespread adoption.

Based on biofuel manufacturing technology, the global sustainable aviation fuel market is divided into fischer tropsch – synthetic paraffinic kerosene (FT-SPK), hydro processed esters and fatty acids – synthetic paraffinic kerosene (HEFA-SPK), synthetic ISO-paraffin from fermented hydro processed sugar (HFS-SIP), alcohol to jet SPK(ATJ-SPK)). HEFA-SPK is derived from vegetable oils, animal fats, or waste oils. Through hydroprocessing, these feedstocks are converted into synthetic paraffinic kerosene. This process involves hydrotreating and hydrocracking to remove oxygen and convert triglycerides into hydrocarbons. HEFA-SPK meets aviation fuel standards and is compatible with existing aircraft without requiring engine modifications. HFS-SIP involves the fermentation of sugars from biomass sources like agricultural residues or dedicated energy crops. The sugars are converted into hydrocarbons through hydroprocessing, resulting in synthetic isoparaffins (SIP). SIP can be blended into aviation fuel and has the potential for a lower carbon footprint, although commercial-scale production is still in development. ATJ-SPK involves the conversion of alcohols (such as ethanol or butanol) into synthetic paraffinic kerosene through dehydration, oligomerization, and hydroprocessing. This pathway utilizes alcohol feedstocks derived from various renewable sources, including biomass or agricultural waste. ATJ-SPK is designed to meet aviation fuel specifications and can be blended with traditional jet fuel.

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Regional Analysis

The report “Sustainable Aviation Fuel Market Size, Share Trends Analysis Report by Fuel Type (Biofuel, Hydrogen Fuel, Power to Liquid Fuel), by Platform (Commercial Aviation, Military Aviation, Business and General Aviation, Unmanned Aerial Vehicle), by Aircraft Type (Fixed Wings, Rotorcraft, Others), by Biofuel Manufacturing Technology(Fischer Tropsch – Synthetic Paraffinic Kerosene (FT-SPK), Hydro processed Esters and Fatty Acids – Synthetic Paraffinic Kerosene(HEFA-SPK), Synthetic ISO-Paraffin from fermented hydro processed sugar(HFS-SIP), Alcohol To Jet SPK(ATJ-SPK)), and by Region (North America, Europe, APAC, MEA, and CSA), and Segment Forecasts, 2023 – 2031” is available now to Econ Market Research customers and can also be purchased directly from: https://www.econmarketresearch.com/

Further key findings from the report suggest:

• The global sustainable aviation fuel market is predicted to register a compound annual growth rate (CAGR) of 57.74% over the projected period of 2023-2031.
• Asia Pacific will be the leading region of the global sustainable aviation fuel market during the forecast period of 2023-2031.
• The major key players in the global sustainable aviation fuel market are: SkyNRG, Fulcrum Bioenergy, Sasol, Gevo, Avfuel Corporation, Neste, Preem AB, World Energy, LANZATECH, and Aemetis.

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Econ Market Research has segmented the global sustainable aviation fuel market based on fuel type, platform, aircraft type, biofuel manufacturing technology and region:

Sustainable Aviation Fuel Market by Fuel Type (Revenue, USD Billion, 2023-2031)

• Biofuel
• Hydrogen Fuel
• Power to Liquid Fuel

Sustainable Aviation Fuel Market by Platform (Revenue, USD Billion, 2023-2031)

• Commercial Aviation
• Military Aviation
• Business and General Aviation
• Unmanned Aerial Vehicle

 Sustainable Aviation Fuel Market by Aircraft Type (Revenue, USD Billion, 2023-2031)

• Fixed Wings
• Rotorcraft, Others

Sustainable Aviation Fuel Market by Biofuel Manufacturing Technology (Revenue, USD Billion, 2023-2031)

• Fischer Tropsch – Synthetic Paraffinic Kerosene (FT-SPK)
• Hydro processed Esters and Fatty Acids – Synthetic Paraffinic Kerosene(HEFA-SPK)
• Synthetic ISO-Paraffin from fermented hydro processed sugar(HFS-SIP)
• Alcohol To Jet SPK(ATJ-SPK)

Sustainable Aviation Fuel Market Regional Analysis (Revenue, USD Billion, 2023-2031)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific
• Middle East Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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