At 9.8% CAGR, Europe Aviation Fuel Card Market is Projected to be Worth US$ 1,087.93 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe aviation fuel card market was valued at US$ 516.07 million in 2022 and is expected to reach US$ 1,087.93 million by 2030, recording a CAGR of 9.8% from 2022 to 2030. Rising investments in new airport and fixed base operator center construction and growing adoption of sustainable aviation fuel are among the critical factors attributed to drive the Europe aviation fuel card market growth.

The need for sustainable aviation fuel is growing significantly to reduce carbon emissions in the aviation industry. Sustainable aviation fuel (SAF) is an alternative jet fuel derived from renewable and waste feedstocks that can reduce greenhouse gas emissions during its entire lifecycle. Thirty-eight of the world's largest airlines have pledged to reach net-zero emissions targets by 2050 or before, Alaska Airlines, American Airlines, Delta, JetBlue, Southwest, and United Airlines are some of them. According to Bloomberg's Economic Transition study, the demand for sustainable aviation fuel is likely to reach 7 billion gallons by 2030, accounting for 5% of worldwide jet fuel demand. Many fuel producers and airline operators are taking initiatives to develop and adopt sustainable aviation fuel.

In 2023, Neste assisted the Trollhättan-Vänersborg airport and the airline Västflyg to become the world's first airline to use sustainable aviation fuel on all flights. Aviation fuel card suppliers can expand their business by offering attractive offers and discounts on the purchase of sustainable aviation fuel. This will ultimately lead to higher adoption and usage of aviation fuel cards. Further, by partnership with fixed-based operators, fuel card service providers can expand the network to supply sustainable aviation fuel. Thus, the rise in sustainable aviation fuel transactions is anticipated to have ample opportunities for the aviation fuel card market growth during the forecast period.

On the contrary, presence of alternative payment methods hamper the growth of Europe aviation fuel card market.

Based on type, the Europe aviation fuel card market is bifurcated into merchant and branded. The merchant segment held 73.4% Europe aviation fuel card market share in 2022, amassing US$ 378.54 million. It is projected to garner US$ 810.54 million by 2030 to register 10.0% CAGR during 2022-2030.

In terms of application, the Europe aviation fuel card market is bifurcated into commercial and private. The commercial segment held 82.7% share of Europe aviation fuel card market in 2022, amassing US$ 426.72 million. It is anticipated to garner US$ 915.97 million by 2030 to expand at 10.0% CAGR during 2022-2030.

Based on country, the Europe aviation fuel card market is categorized into France, Germany, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the UK captured 23.4% share of Europe aviation fuel card market in 2022. It was assessed at US$ 120.65 million in 2022 and is likely to hit US$ 229.55 million by 2030, registering a CAGR of 8.4% during 2022-2030.

Key players operating in the Europe aviation fuel card market are Shell Plc, BP Plc, Associated Energy Group LLC, TITAN Aviation Fuels Inc, TotalEnergies SE, and Multi Service Corp, among others.

•    In September 2022, Air bp, the international aviation fuel products and services supplier, is now offering Jet-A1 fuel at Berlin Brandenburg Airport's (BER) General Aviation (GA) terminal in a newly agreed agency collaboration with ExecuJet. Air will bp will refuel aircraft at the GA terminal supported by two Air bp tankers.
  
  
  

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