Even though the aviation sector still faces enormous challenges in achieving the net-zero target by 2050, the industry is making great progress on its path to decarbonisation. The use of sustainable aviation fuels (SAFs) is on the rise. Global SAF capacity is expected to increase to almost 6 billion gallons by 2030, compared to 1.3 billion gallons in 2023. However, alternative aviation fuels that achieve low life cycle emissions while being cost-efficient, safe and efficient are not yet available in sufficient quantities.
Today, aviation accounts for just over 2 per cent of global energy-related greenhouse gas (GHG) emissions. However, as global prosperity increases, the number of air travellers will rise rapidly. This means that air travel could consume up to 10 per cent of the global CO2 residual budget for a 1.5°C temperature rise by 2050 in a ‘business as usual’ scenario.
This report is aimed at executives and stakeholders in the aviation industry. It provides a practical insight into alternative fuels and analyses in detail the readiness and application potential in the aviation sector.
With these insights and recommendations, aviation companies can better manage the complexity of the transition, mitigate the associated risks and capitalise on new market opportunities.
Dr. Steffen Wagner
Partner, Deal Advisory, Head of Corporate Finance, Head of Transport & Infrastructure
KPMG AG Wirtschaftsprüfungsgesellschaft