1. Definition of aviation fuel industry
The aviation fuel industry refers to the industry that produces and ** aviation fuel, including:Aviation gasoline, aviation keroseneand other fuels. These fuels are mainly used to power aircraft, so the industry is closely related to the aviation industry.
The development of the aviation fuel industry is influenced by a variety of factors, including global and regional economic conditions, aviation industry development, energy fluctuations, etc. As the global aviation industry continues to grow, so does the demand for aviation fuel, as well as challenges in terms of environmental protection and energy efficiency.
In the aviation fuel industry, the major players include oil companies, airlines, airports, and ** institutions, among others. The relationship between these participants is intricate and involves:Demand, securityand many other aspects. It will also contribute to the industry's growing research to assess the beneficial impact of "100% SAF" on aircraft performance.
Sustainable Aviation FuelIt is a broad concept that encompasses all non-fossil** fuels, including biofuels from plants, animal materials, municipal waste, and agricultural production residues. The test flight, codenamed VIR100, carried 50 tonnes of SAF, of which 88 per cent was said to be waste fat extract from British Petroleum (BP) jet fuel and another 12 per cent from corn waste in the United States.
In addition to Virgin Atlantic and BP, engine manufacturer Rolls-Royce is also involved in the project.
Most of the achievements of human society in reducing emissions so far are concentrated on the ground – including photovoltaic and wind power. The aviation industry still does not have a very effective logic to reduce emissions, and many airlines are making sustainable aviation fuel a key focus for the next phase of emission reduction.
It is important to emphasise that the use of SAF does not mean zero emissions, but these fuels can reduce emissions by up to 70% compared to jet fuel "over their full life cycle".
Aviation fuel was introduced at the beginning of the century, with the birth of airplanes. Aviation fuel includes aviation gasoline for ignition piston engines and jet fuel (commonly known as jet fuel) for gas turbine engines.
2. In-depth market research and development trend of aviation fuel industry
The development of aviation fuel has gone through a long historical process, and there are various different types and types of fuel systems in the same period, but in the final analysis, every historical change of aero engine will bring about the rapid development and innovation of aviation fuel, and the performance improvement and change of the engine will produce higher performance requirements for the fuel, thus promoting the development of aviation fuel.
From the human power source in the engineless flight system, to the aviation diesel power source in the internal combustion engine system, to the aviation gasoline power source in the piston engine system, to the jet fuel power source in the jet engine system, to the high-density hydrocarbon fuel in the supersonic engine system, and then to the biofuel or solar power source in the new energy engine system, that is to say, the development history of aviation fuel is derived from the development of aero engines.
As the date for achieving the "dual carbon" goal is approaching, the green transformation of aviation fuel is becoming more and more urgent. At present, there are three types of energy alternatives that have been widely studied and are highly feasible around the world: electrification, hydrogen energy, and sustainable aviation fuel. According to the analysis of the current situation, whether from a technical or commercial perspective, sustainable aviation fuel is the most important way to achieve the carbon reduction goal of civil aviation in the short to medium term.
SAF is further divided into SAF and SAF. Compared to regular jet fuel, SAF not only powers flight, but also reduces carbon emissions by 80%, and airlines can use it with little to no modification of the aircraft. As a result, most countries see SAF as the key to a breakthrough in emissions reductions in the aviation industry.
Recently, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the Ministry of Finance, and the Civil Aviation Administration of China jointly issued the "Green Aviation Manufacturing Industry Development Outline (2023-2035).
The Outline proposes a "two-step" target for 2025 and 2035. Among them, by 2025, the energy-saving, emission reduction, and noise reduction performance of domestic civil aircraft will be further improved, the level of green aviation manufacturing will be comprehensively improved, the development of the green aviation industry will achieve phased results, and a safe and effective guarantee system will be basically completed. The demonstration application of domestic civil aircraft using sustainable aviation fuel, the commercial application of electric general aviation aircraft, the pilot operation of electric vertical take-off and landing aircraft (EVTOL), the completion of feasibility verification of key technologies of hydrogen energy aircraft, and the continuous consolidation of green aviation infrastructure, the formation of a number of standards, specifications and technical public service platforms, effectively supporting the construction of green aviation production system and operation system.
The Civil Aviation Administration of China mentioned in the "14th Five-Year Plan for the Green Development of Civil Aviation" that from 2021 to 2025, China's SAF fuel use will reach 50,000 tonsStrive to achieve SAF consumption of more than 20,000 tons in 2025. This is the first time that China has put forward quantitative targets for the use of SAF from the first level.
According to Deloitte, China's aviation industry needs to take a significant step to meet the International Air Transport Association's (IATA) commitment to achieve net-zero emissions by 2050 and to bring SAF production and demand to the required levels.
China's total jet fuel consumption is expected to reach 60.5 million tonnes by 2030, and by 2050, this figure is expected to reach 132.5 billion tons.
If the Chinese aviation industry uses the IATA SAF target (52%), China's SAF demand is expected to reach 3 million tonnes per year by 2030, and is expected to reach 86 million tonnes per year by 2050 as technology advances and China's comprehensive decarbonization goals are advanced.