Aviation Lubricant Market to Witness Robust Expansion by 2027
June 23, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the
It was estimated prior to this unanticipated outbreak that the Aviation Lubricant Market is likely to witness an impressive CAGR of 7.2% during the forecast period. This unprecedented growth is owing to the rising aircraft orders driven by the snowballing passenger traffic globally. Escalating attention on improved efficiency of aircraft systems is also driving the growth of the global aviation lubricant market.
Market Scope & Segmentation
Aviation Lubricant is lubricant used under different temperatures for various applications such as gears, engine cylinder walls, sockets, push rods, camshaft, and similar others in the aircraft. The function of the lubricant here is to provide cooling and cleanliness to the engine along with corrosion inhibition.
Aviation Lubricant can be of mineral-based or synthetic. Hydraulic fluid, grease, engine oil, and special lubricants are some of the lubricant types used. Some of the important application areas where the aviation lubricants are being used are hydraulic systems, landing gear, engine, airframe, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the type, the market is segmented as hydraulic fluid, engine oil, grease, and special lubricants and additives. The engine oil segment is estimated to register the highest growth in the coming five years. The growth of this segment is owing to the progression of advanced aircraft engines and the rise in the commercial aircraft fleets.
Based on the aviation type, the market is segmented as commercial aviation, military aviation, and business and general aviation. The military aviation segment is expected to witness the highest growth during the forecast period. The growth of this segment is fueled by the rising number of aircraft orders for military aviation across the globe.
Based on the technology type, the market is segmented as mineral-based and synthetic. The synthetic segment is expected to register a higher growth during the forecast period. This growth can be ascribed to the growing demand for advanced lubricants to improve the performance of an aircraft.
Based on the end-user type, the market is segmented as OEM and MRO. The MRO segment was estimated to remain dominant in 2018. The growth of this segment is owing to the rise in the aircraft fleet of the emerging economies in the commercial and military aviation sectors, during the forecast period.
Based on the application type, the market is segmented as hydraulic systems, engine, landing gears, airframe, and others. The engine segment was estimated to impose the aviation lubricant market in 2018. The growth of this segment was attributed to the increase in the use of specialized and advanced lubricants.
In terms of regions, North America was estimated to remain dominant in the global aviation lubricant market in 2018. Giant commercial and military aircraft manufacturers, such as Boeing (US) and Lockheed Martin (US) are based in North America. Also, the region holds the largest aircraft fleet in the world, and thus, creates a huge demand for aviation lubricant products. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
The key automotive OEMs are-
- BP plc
- Candan Industries
- Eastman Chemical Company
- Exxon Mobil Corporation
- Lanxess Aktiengesellschaft
- The PJSC Lukoil Oil Company
- The Phillips 66 Company
- The Chemours Company
- Royal Dutch Shell
- Nye Lubricants, Inc.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Researchís internal database and statistical tools.
The Aviation Lubricant analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porterís five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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