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Technavio’s market research report predicts that the renewable energy-based commercial aviation market in Scandinavia will grow at a CAGR of nearly 6% during the forecast period. Emerging SMEs with innovative technologies is one of the primary drivers for market growth. The availability of nanomaterials and the impact of renewable power generation like wind turbines and solar cells has made Scandinavia a well-developed region. Numerous SMEs in the region have focused on leveraging the properties of nanomaterials to propel the sustainable energy growth on an industry-wide scale. Similar improvements also encourage the adoption of renewable resource as they help in the cost-effective backup of power through batteries and fuel cells, and solar power to offset energy consumption from the grid in the Scandinavian commercial aviation market.
One of the latest trends that will gain traction in the renewable energy-based commercial aviation market in Scandinavia is the development of second- and third-generation biofuels. Second-generation biofuels are created from different kinds of biomass and are generally made from lignocellulosic biomass or woody crops and various kinds of agricultural residues or waste. Moreover, biofuels made from aquatic biomass are third-generation biofuels, with microalgae as feedstock resource. Countries like Norway are increasingly focusing on innovations to come up with second-generation biofuels for transport segments such as aviation, and a significant amount of funds have been invested in second-generation biofuel research in Norway. Establishments like SINTEF has been researching on second- and third-generation biofuels that can be used as aviation biofuels.
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The renewable energy-based commercial aviation market in Scandinavia is categorized by the presence of many regional and national players. The vendor competition is based on cost, product quality, reliability, and aftermarket service. Moreover, it is imperative for the vendors to offer cost-effective and high-quality alternative sources of energy generation to sustain and succeed in the aviation industry.
Key vendors in the market are:
During 2016, the aviation biofuel market dominated the type of renewable energy source in renewable energy-based commercial aviation market in Scandinavia and is expected to continue its dominance over the next four years. The directives and policies to lessen carbon footprint issued by the European Commission also drives the growth of the segment.
As per this market research report, Norway led the renewable energy-based commercial aviation market in Scandinavia during 2016 and is anticipated to continue the dominion during the forecast period. The main contributor to the growth of the market in Norway is the demand for short-haul travel and greater importance to adopt energy solutions to battle climate changes.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by type
PART 07: Segmentation by country
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Appendix
Tags: solar power system, aviation fuel, aviation industry, aviation safety, aerospace components industry analysis, aerospace and defense market study,
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