However, its availability remains severely limited – the commodity accounted for just 0.3 per cent of global jet fuel production in 2024.
As such, Menon said advancing technology to enhance efficiency is also a crucial part of the industry’s roadmap towards net-zero emissions.
But while there have been significant gains in emissions reductions through technology, supply chain issues – including bottlenecks in aircraft, engine and component production and delivery – have slowed progress, he said.
Furthermore, tariffs – particularly those from United States President Donald Trump – are expected to spur inflation and undermine supply chain recovery, he added
Industry groups representing global aerospace companies have already warned that such duties could jeopardise air safety or trigger other unintended consequences.
“Chief among … troubling developments in the external environment … are tariffs, (which) can do a lot of damage. In spite of that, we expect that (air travel) demand will continue to grow,” Menon said.
What was once described as “revenge travel” – a buzzword coined in 2021 to capture the surge in pent-up demand for vacations after pandemic lockdowns – has now evolved into “resilient travel”, he said.
Each year since the pandemic has seen a steady rise in tourism numbers, reflecting the world’s enduring appetite for travel.
In 2024, there were 1.5 billion international arrivals globally, a 12 per cent increase from the previous year, according to the United Nations.
“Demand for air travel, both cargo and passenger, is very strong. Everybody wants to travel, whether it is for business or leisure,” Menon said.
“So, that is why you see Asia Pacific governments doing their best to support the industry’s growth, even while trying to help them address the problems of sustainability.”
Source: CNA
