Jet fuel market seen topping $289.5 billion by 2030

The Business Research Company says the global jet fuel market is on track to exceed $289.5 billion by 2030, driven by higher air travel, cargo demand and growing low-carbon fuel projects. North America is expected to remain the largest regional market, while Exxon Mobil leads global sales in 2025.

Why it matters: - Jet fuel demand is rising alongside global air traffic, cargo volumes and fleet growth. - The market is also shifting as airlines and fuel suppliers push sustainable aviation fuel and lower-emission supply chains. - The report says the market could exceed $289.5 billion by 2030, making jet fuel a major slice of the broader oil and gas market.

What happened: - The Business Research Company released its 2026 global jet fuel market report with forecasts through 2035. - The report projects the jet fuel market will grow at a 6% compound annual rate through 2030. - North America is expected to be the largest regional market in 2030 at $97 billion, up from $75 billion in 2025. - The United States is projected to be the largest country market in 2030 at $80 billion, up from $62 billion in 2025.

The details: - Conventional fuel-air turbine fuel is expected to remain the dominant segment in 2030, accounting for 90% of the market, or about $260 billion. - The market is segmented by fuel grade into Jet A, Jet A1, Jet B and TS-1. - Aircraft segments include fixed wing, rotary wing and unmanned aerial vehicles. - End uses include commercial aviation, defense, general aviation and private aviation. - The report says the top 10 companies held 26% of revenue in 2025, pointing to a moderately fragmented market. - Exxon Mobil Corporation led with a 7% share in 2025. - Shell plc followed with 5%, BP plc with 4%, and Chevron Corporation and TotalEnergies SE with 3% each. - China Aviation Oil Corporation Ltd. held 2%, while Neste Oyj, Valero Energy Corporation and Gazprom Neft PJSC each held 1%. - Marathon Petroleum Corporation held 0.3%. - The report lists major companies in the market including Exxon Mobil, Shell, BP, Chevron, TotalEnergies, China Aviation Oil, Neste, Valero, Gazprom Neft, Marathon Petroleum, CNOOC, World Energy, Honeywell, Sinopec, Allied Aviation Services, Qatar Jet Fuel Company, World Fuel Services, Rosneft Deutschland, Indian Oil, Bharat Petroleum and Hess. - The report also identifies raw material suppliers such as Saudi Aramco, Kuwait Petroleum Corporation, Abu Dhabi National Oil Company, Petrobras, ConocoPhillips, Eni, Equinor, Occidental Petroleum, Repsol, Ecopetrol, Woodside Energy, Canadian Natural Resources, Devon Energy, Diamondback Energy, Pioneer Natural Resources, Aker BP, Harbour Energy and Santos. - Distribution players include World Fuel Services, Allied Aviation Services, Avfuel, Titan Aviation Fuels, EPIC Fuels, Air BP Aviation Services, AEG Fuels, Viva Energy Aviation, Skytanking, Swissport Fueling Services, Menzies Aviation, ASIG, Universal Aviation, Air Total International, Shell Aviation, Chevron Aviation, Valero Marketing and Supply Company, Gazpromneft-Aero and IndianOil Aviation. - End users include Delta Air Lines, American Airlines, United Airlines, Emirates, Qatar Airways, Lufthansa Group, Air France-KLM, Singapore Airlines, Cathay Pacific, Turkish Airlines, Southwest Airlines, Ryanair, International Airlines Group, FedEx, UPS, Korean Air, Japan Airlines, Air India and Qantas.

Between the lines: - The market’s competitive pressure is coming from both legacy fuel supply and the race to build sustainable aviation fuel capacity. - The report points to a June 2026 partnership between Technip Energies, Safran, Airbus and Tereos to develop a SAF facility at the Port of Dunkirk in France. - The project is targeted to produce about 160,000 metric tons a year using ethanol-to-jet technology and renewable feedstocks. - The report says major players are focusing on refining efficiency, supply chain strength, airline partnerships, digital fuel management and lower-carbon fuel innovation. - Moderate barriers to entry remain in place because of refining complexity, aviation fuel quality rules, global distribution needs and supply chain reliability. - The report says air travel growth, low-cost carriers and rising disposable incomes are adding to demand through 2030.

What's next: - The report expects conventional turbine fuel to keep leading the market, even as sustainable aviation fuel, biofuels and power-to-liquid fuels expand. - Combined growth across conventional turbine fuel, avgas, sustainable biofuels, power-to-liquid and gas-to-liquid is projected to add more than $77.5 billion in market value from 2025 to 2030. - Conventional turbine fuel is expected to add $72 billion of that growth. - Avgas and sustainable biofuels are each projected to add $2 billion. - Power-to-liquid is projected to add $1 billion, and gas-to-liquid $0.5 billion. - The Business Research Company also added new report features including market attractiveness scoring, TAM analysis, company scoring matrices, Excel forecasting dashboards, market hotspot infographics and updated graphics and tables.

The bottom line: - Jet fuel demand is set to keep climbing, but the biggest shift is the parallel push toward cleaner aviation fuels and more diversified supply chains.