Market Size of South America Defense Aircraft Aviation Fuel Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Defense Aircraft Aviation Fuel Market Analysis
The South American defense aircraft aviation fuel market is expected to register a CAGR of more than 4% during the forecast period.
The market was negatively impacted by the outbreak of COVID-19 due to regional lockdowns. Currently, the market has reached pre-pandemic levels.
- Factors such as the security threats from a neighboring country and local or regional terror groups intensified, requiring governments around South America to continue increasing their defense budgets. Moreover, in recent decades, South America has witnessed an increasing number of aircraft fleets for the air force as well as for the navy, which is likely to drive the defense aircraft aviation fuel market.
- However, the government is reducing defense expenditure, which is likely to hinder the South American defense aircraft aviation fuel market in the coming future.
- Increasing concerns over emissions from aircraft and initiatives by governments to adopt modern engines and bio-fuel blended aviation fuel to reduce emissions are expected to provide significant opportunities for the defense aircraft aviation fuel market in the future.
- Brazil is likely to dominate the South American defense aviation fuel market owing to its growing defense budget.
