Aviation Fuel Market Procurement Intelligence Report | SpendEdge Forecasts Over USD 18 Billion Spend Growth in the Aviation Fuel Market
SpendEdge has been monitoring the global aviation fuel market and the market is poised to experience spend growth of more than USD 18 billion between 2017-2022 at a CAGR of over 2% during the forecast period. Request Free Sample Pages.
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Read the 106-page research report with TOC and LOE on "The Global Aviation Fuel Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
The penchant towards air travel by the proliferating middle-class population in the BRIC countries will act as the primary spend growth driver in the aviation fuel market. The steady growth of the air travel industry is resulting in the creation of new aviation routes and the subsequent procurement of new aircraft. This will continue to contribute to the demand growth in the aviation fuel market across the globe.
APAC is expected to have the highest market value because buyers from this region are paying the highest premiums to suppliers to ensure a continuous supply of aviation fuel. Factors such as expansion and increase in new airports in the region are driving the regional consumption of aviation fuel. Meanwhile, North America will witness a steady rise in air traffic due to the region's robust economic development and an increase in outbound passenger traffic. This will increase the prospects of spend growth in the aviation fuel market in this region.
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Insights into the market price trends
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The widening demand-supply gap will have an inflationary impact on the prices of raw materials such as crude oil and refinery catalysts during the forecast period. This will have a direct impact on aviation fuel price.
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The rising fuel costs will act as an imposing cost accelerator for suppliers’ logistics costs, thereby driving prices in the aviation fuel market over the forecast period.
Insights into strategies that will help buyers achieve a mutually beneficial partnership with suppliers
Engage with suppliers who have expertise in demand price forecasting
Buyers are advised to engage with suppliers who have in-house teams with expertise in demand and price forecasting of aviation fuel. This will help buyers to effectively plan their procurement budgets. Buyers should opt for suppliers who adopt advanced analytical tools for price and demand forecasting. This reduces buyers' procurement costs.
Engagement through a risk-sharing model
While negotiating with a supplier, it is advised that buyers adopt a flexible pricing model, wherein the risk associated with the rise in the price of aviation fuel is shared between them and the supplier. Buyers should include a clause in the pricing model wherein if the price of aviation fuel drops, then rewards should be shared between buyers and suppliers. Among several benefits, adopting this strategy will increase buyers’ chances to obtain cost benefits when there is a drastic drop in the prices as the profits are shared between buyers and suppliers.
The top aviation fuel suppliers enlisted in this report
This aviation fuel market procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
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ExxonMobil
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BP
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Shell
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Chevron
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Total
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Valero Energy
Buy 1 report and get the second for 50% off. Buy 2 reports and get the third for free. Download the free sample of this report on the aviation fuel market.
Some of the key topics covered in this report are:
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Aviation fuel market spend segmentation by region
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Aviation fuel supply market analysis
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Regional spend opportunity for aviation fuel suppliers
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Aviation fuel suppliers cost structure
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Total cost of ownership analysis in the aviation fuel market
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Aviation fuel suppliers pricing models analysis
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Category management objectives
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Cost saving opportunities in the aviation fuel market
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About SpendEdge:
SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more, https://www.spendedge.com/request-free-proposal
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Copyright Business Wire 2020
Source: Business Wire
(February 14, 2020 - 10:30 AM EST)
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