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Aviation Lubricant Market Analysis & Forecast | 2022-2028
Aviation Lubricant Market Size, Share, Trend, Forecast, & Industry Analysis (2022-2028)
The Aviation Lubricant Market is estimated to grow from US$ 820.08 Million in 2022 to reach US$ 1160.53 Billion in 2028 and is likely to grow at a CAGR of 5.95% over the next five years.
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.
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Aviation Lubricant Market - Snapshot |
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|---|---|
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Growth |
5.95% during 2022-2028 |
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Major Type |
Engine oil |
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Major Aviation Type |
Military |
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Dominant Technology Type |
Synthetic |
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Dominant End-User Type |
MRO |
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Leading Application Type |
Engine |
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Region with the highest demand |
North America |
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Key Players |
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, and Nye Lubricants Inc. |
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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 during the forecasst period. 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 during the forecasst period. 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 2021. 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.
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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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Aviation Lubricant Market Research Report - Features |
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|---|---|
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Market Segmentation |
6 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
15 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The aviation lubricant market is segmented into the following categories.
Some of the major players in the aviation lubricant market are-
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 Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.
The aviation lubricants market is expected to witness an impressive growth of 7.2% CAGR in the coming years.
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, and Nye Lubricants Inc are among the key players in the aviation lubricants market.
North America was expected to remain dominant in the aviation lubricants market in 2018.
The synthetic segment is expected to register a higher growth in the aviation lubricants market during the next five years.
The military aviation segment is expected to witness the highest growth in the aviation lubricants market during the forecast period.
The rising aircraft orders driven by the snowballing passenger traffic globally, escalating attention on improved efficiency of aircraft systems are the factors driving the growth of aviation lubricants market.
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