The aviation fuel card market was valued at US$ 2,459.07 million in 2022 and is projected to reach US$ 4,743.44 million by 2030; it is expected to record a CAGR of 8.6% from 2022 to 2030.


Growing Adoption of Sustainable Aviation Fuel is Driving the 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. In recent years, SAF production and use in the US have increased; this fuel is now used by airlines at two major commercial airports in California. While the US produced 15.8 million gallons in 2022, it contributed to less than 0.1% of total jet fuel utilized by major airlines in the country. 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.

In 2023, at the Dubai Airshow, officials from Boeing and Zero Petroleum signed an agreement to accelerate the development of synthetic sustainable aviation fuel (SAF). In 2023, Neste assisted the Trollh?ttan-V?nersborg airport and the airline V?stflyg to become the world's first airline to use sustainable aviation fuel on all flights. In 2023, Emirates agreed to supply approximately 300,000 gallons of blended sustainable aviation fuel (SAF) to the airline's international hub in Dubai (DXB) through a partnership with Shell Aviation. Such initiatives are projected to increase the adoption of sustainable aviation fuel. 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.

Germany, France, and the UK are estimated to acquire a major share of the Europe aviation fuel card market. One of the primary factors for the market growth is high fuel consumption in the UK, Germany, and France. Germany is a world leader in aviation and aerospace technology. According to the Federal Statistical Office (Destatis), the number of people arriving or departing German airports in 2022 was more than double that of 2021. The aviation fuel card market share in France is mainly driven by the widely spread fuel card network by fuel-producing companies such as Total Energies and Air BP. Total Energies offers its services to private and commercial aviation sectors. Total Energies Jet A-1 aviation fuel card is currently active in approximately 100 airports in France. The UK aviation fuel card market share is driven by a variety of factors, such as increased aviation fuel consumption, a rise in preference for sustainable fuel, and key players' activities. In August 2023, Avfuel added London Southend Jet Centre, the airport-owned and operated FBO at London Southend Airport (EGMC), to its European dealer network. Since 2019, the aviation industry in Russia has experienced negative growth in air travel. Reduced air traffic negatively impacted fuel consumption, ultimately affecting the aviation fuel card market growth. New issuance of aviation fuel cards since 2019 has decreased notably, owing to negative growth of the aviation industry and aviation market in Russia.

Shell Plc, BP Plc, Associated Energy Group LLC, Viva Energy Group Ltd., TITAN Aviation Fuels Inc., CSI Enterprises Inc., Total Energies, EPIC Aviation LLC, Avfuel Corp, and Kropp Holdings Inc are among the key aviation fuel card market players profiled during this study. In addition, several other important aviation fuel card market players have been studied and analyzed during the study to get a holistic view of the aviation fuel card market and its ecosystem.