From 2013 to 2023, the consumption of kerosene-type jet fuel for domestic aviation in Austria showed an overall declining trend, reducing from 30.36 Thousand Tonnes of Oil Equivalent (TOE) to 23.59 Thousand TOE in 2023. The year-on-year variation had significant declines, notably in 2019 (-18.23%) and 2020 (-37.12%), largely due to the pandemic's impact on global travel. However, from 2021 to 2023, there were signs of recovery, with a notable increase of 52.26% in 2022 and continued growth in 2023 by 8.05%. The average annual decline over the last five years was -3.93% (CAGR). Future forecasts until 2028 show minimal growth, with a forecasted 5-year CAGR of 0.01%.
Future trends to watch for:
- The impact of environmental regulations on kerosene-type jet fuel consumption.
- Advancements in fuel-efficient technologies and alternative energy sources.
- Recovery trajectory of the aviation sector post-pandemic.