At 8.0% CAGR, North America Aviation Fuel Card Market is Projected to be Worth US$ 2,522.51 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America aviation fuel card market was valued at US$ 1,361.79 million in 2022 and is expected to reach US$ 2,522.51 million by 2030, recording a CAGR of 8.0% from 2022 to 2030. Rising investments in new airport & fixed base operator center construction and growing adoption of sustainable aviation fuel are among the critical factors attributed to drive the North America aviation fuel card market growth.

Various developed and developing countries across the globe are focusing on increasing their total number of airports. In 2023, McKinney Air Center opened its first fixed-base operator facility in US.

In 2022, Skyservice expanded its network to California with the opening of a new jet center. Fixed-based operations (FBO) and maintenance services will be available at the 60,000 full-service private jet center at Napa County Airport (APC). These new projects are projected to attract high air traffic in the coming years. Increased air traffic at the newly built airports will lead to increased refueling and ancillary service activities, ultimately leading to high usage of aviation fuel cards. Aviation fuel card service providers, by partnering with the newly built fixed base operators, can support the network expansion as well as increase the overall usage of aviation fuel cards. Aviation fuel-producing companies can expand their aviation fuel sales by offering lucrative offers and discounts on their aviation fuel card usage at the new airports. Thus, rising investments in new airport and fixed base operator center construction is projected to create lucrative opportunities to expand their network and service offerings, which is anticipated to fuel the aviation fuel card market during the forecast period.

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

Based on type, the North America aviation fuel card market is bifurcated into merchant and branded. The merchant segment held 71.9% market share in 2022, amassing US$ 979.58 million. It is projected to garner US$ 1,854.25 million by 2030 to register 8.3% CAGR during 2022-2030.

In terms of application, the North America aviation fuel card market is bifurcated into commercial and private. The commercial segment held 83.2% share of North America aviation fuel card market in 2022, amassing US$ 1,132.83 million. It is anticipated to garner US$ 2,122.08 million by 2030 to expand at 8.2% CAGR during 2022-2030.

Based on country, the North America aviation fuel card market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 69.1% share of North America aviation fuel card market in 2022. It was assessed at US$ 941.54 million in 2022 and is likely to hit US$ 1,768.28 million by 2030, registering a CAGR of 8.2% during 2022-2030.

Key players operating in the North America aviation fuel card market are Shell Plc, BP Plc, Associated Energy Group LLC, TITAN Aviation Fuels Inc, CSI Enterprises Inc, Total Energies SE, EPIC Aviation LLC, Kropp Holdings Inc, Avfuel Corp, and Multi Service Corp, among others.

• In October 2022, TreviPay, the global B2B payments and invoicing network, today announced its launch of the Trivia Aviation Network, powered by KHI, to offer a co-branded, closed-loop card solution tailored to the needs of FBOs (fixed-base operators) and flight support service organizations who service the general and defense aviation industries, and their customers.
  
  
• In August 2022, AEG Fuels announced that National Jets is now part of AEG Connect, AEG Fuels' network of world-class FBOs. Headquartered at Fort Lauderdale-Hollywood International Airport (KFLL), National Jets joins a leading group of FBOs carefully selected for their world-class service, operational excellence, and competitive pricing.
  
  

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com