In terms of revenue, the Global Aviation Lubricants market is expected to reach USD 1.15 Billion by 2030, growing at a CAGR (Compound Annual Growth Rate) of 5.9% from 2023 to 2030.
The market for Aviation Lubricants is propelled by a variety of variables, including an increase in the number of airline passengers together with an increase in disposable income, an increase in the consumption of synthetic lubricants, and an increase in the number of airports. The market's expansion is, however, constrained by lubricant contamination. Also, the development of environmentally friendly and safe aircraft lubricants as well as the rise in demand for low-density lubricants for reduced weight provide the market with attractive potential opportunities.
In order to minimize wear and friction between two moving surfaces or sections of the aircraft, lubricants are utilized. Any type of aircraft needs to regularly have its lubrication replenished as part of routine maintenance because it is essential to the safe operation of the aircraft. Also, the usage of lubricants enables airplanes to run as effectively and efficiently as possible.
Key Highlights from the Report
● By Type, Engine Oil segments are anticipated to dominate the Aviation Lubricants market, owing to the increased launch of new engine oils by the major manufacturers for enhancing the aircraft's efficiency and lowering fuel consumption, with the largest share over the predicted period.
● By Technology, Synthetic segments hold the highest market share during the forecast period, Synthetic oil has a number of benefits, such as improved viscosity performance at low and high temperatures, excellent corrosion resistance, high shear stability, and resistance to thermal breakdown, oxidation, and oil sludge issues.
● By Application, the Engine segment is projected to dominate the Aviation Lubricants market, The use of specialized and sophisticated lubricants has increased, which has been credited with this segment's rise.
● By End-user, The Aftermarket segments are anticipated to dominate the market, The aftermarket industry is being driven by a rising fleet and an increase in lubricant consumption by commercial and military aircraft to maintain the fleet's airworthiness.
● By Platform, the commercial aviation segment is projected to dominate the Aviation Lubricants market, due to factors such rising air passenger traffic, which is boosting OEM demand and driving the market for new generation aircraft, and rising fleets that need more frequent scheduled maintenance, which is driving MRO need for lubricant.
The use of synthetic lubricants ensures thermal stability, increased energy efficiency, greater performance in challenging conditions, and resistance to oxidation, which is driving growth in the global market for aircraft lubricants. In addition, synthetic lubricants have a longer service life and improved resistance to frictional wear of expensive aircraft components, both of which are driving growth in the global Aviation Lubricants market.
The majority of travelers worldwide choose air travel over other traditional modes of transportation like road and sea because it is the fastest and safest mode of travel with the fewest flight cancellations. This makes flying more dependable than other forms of transportation and provides a nice experience when flying. Due to the surge in disposable income, clients still favor flying despite the cost. Moreover, 4.3 billion people were transported by airlines in 2018 according to information provided by the International Civil Aviation Organization (ICAO). Also, by the year 2040, there will be over 10.0 billion passengers traveling by air, necessitating the use of more airplanes to move passengers from point A to point B. As a result, the size of the aircraft fleet and the number of flights inevitably expand. This necessitates frequent maintenance, which in turn spurs the expansion of the global Aviation Lubricants industry.
When compared to other forms of transportation, flying is thought to be the safest option. A further factor driving the market growth is the expected demand for more airports due to the predicted increase in the global population and the ease of air travel. Despite disappointing aircraft sales figures in 2020 caused by the COVID-19 pandemic, it is anticipated that market circumstances will return to normal and that sales will increase going forward. In addition, significant industry expenditures are projected to meet the demands of new airports, particularly in developing nations and areas.
The Global Aviation Lubricants Market is Segmented as follows
- Engine Oil
- Special Lubricants & Additives
- Mineral Based
- End User
- Hydraulic Systems
- Landing Gear
- Other Applications
- Commercial Aviation
- Military Aviation
- Business & General Aviation
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Aviation Lubricants Market is
Aerospace Lubricants Inc. (U.S.), Eastman Chemical Company (U.S.), Exxon Mobil Corporation (U.S.), Jet-Lube (Whitmore Manufacturing LLC) (U.S.), LANXESS (Germany), LUKOIL (Russia), NYCO (France), Nye Lubricants Inc. (FUCHS PETROLUB) (Germany), ROCOL (UK), Royal Dutch Shell PLC (UK), The Chemours Company (U.S.)
The Global Aviation Lubricants Market Scope can be Tabulated as below
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|