The
global aerospace and defense fuel market has witnessed steady demand
in recent years owing to the positive economic growth worldwide and
the rising demand for aircraft from emerging economies such as India
and China. While the emergence of low-cost airlines has boosted the
demand for aviation fuel from the commercial sector, the growing need
for surveillance aircraft and pilot training has created an
opportunity for the growth of the market across the defense sector.
The
growing awareness about carbon emissions and stringent government
regulations about the same have stressed on the need for efficient
carriers that promote fuel savings and reduce emissions. Even though
carbon emissions from aircraft account for only 2% of the overall
emissions, the aviation industry is taking initiatives to ensure
carbon-neutral growth, which will augment the growth of the global
aerospace and defense fuel market in the coming years.
The
conventional petroleum-based liquid jet fuel is extensively used
across the global aerospace and defense fuel market. However, the
introduction of new alternatives is expected to decrease the
dependency on petroleum-based liquid jet fuel.
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Renewable Jet Fuel: In an attempt to cut down on carbon
dioxide emissions, United Airlines has started using aviation
bio-fuel to run its commercial flights flying between Los Angeles and
San Francisco. The airlines company expects to deploy 12,500 such
flights running on bio-fuel to support energy diversification. The
aviation bio-fuel is produced by AltAir Paramount with the help of
Honeywell’s renewable jet fuel process technology, which converts
non-edible animal fats and oils into renewable fuel. The green jet
fuel is an ideal substitute for the petroleum-derived jet fuel
currently used in flights.
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Synthetic Fuel: Commercial airlines and military aircraft
usually run on synthetic fuels that are blends of Fischer-Tropsch
(FT) fuels with traditional fuels. There are various
petroleum-alternatives FT fuels such as coal-to-liquid (CTL) fuels,
biomass-to-liquid (BTL) fuels, gas-to-liquid (GTL) fuels, and
coal-and-biomass-to-liquid (CBTL) fuels.
Boeing
Partners with NASA to Develop Super-thin Aircraft Wing
Some
of the key players in the global aerospace and defense fuel market
are Essar Oil Ltd., Indian Oil Corporation Ltd., Bharat Oman
Refineries Ltd., Hindustan Petroleum Corporation Ltd., Reliance
Industries Ltd., Kuwait Aviation Fuelling Company, Chennai Petroleum
Corporation Limited, Royal Dutch Shell Plc, and Bahrain Petroleum
Company. The volatility in aviation fuel prices is one of the primary
factors affecting the key players and other commercial and defense
aircraft manufacturers. While the key players are focusing on the
development of alternative aviation fuels, aircraft manufacturers are
working on redesigning aircraft wings to make aircraft lighter and
thus decrease aircraft fuel bills. For example, Boeing has partnered
with NASA to test low-drag, lightweight, and stiletto-shaped wings
that would cut down aircraft fuel bills to half.
Such
endeavors are expected to become common due to the rising awareness
about the climat
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