Aircraft Lubricants Market Overviews
Aircraft Lubricants Market size was valued at US$ 2.65 Bn. in 2023 and the total revenue is expected to grow at 7.5% through 2024 to 2030, reaching nearly US$ 4.40 Bn. by 2030
Aircraft lubricants are used to prevent wear and tear by reducing friction between Aircraft components that are in direct touch. Cooling of parts, providing anti-corrosion and rust-free qualities, sealing in gaps, and so on are all uses for aircraft lubricants. Lubricants ensure the smooth operation of parts and components, resulting in improved fuel economy and engine efficiency.
Aircraft lubricants are designed to endure high temperatures and pressures. Auxiliary drive spine shafts, fan motors, control valves, bearings, seals, liquid fuelled turbines, reduction gears, and wing flap actuators are among the Aircraft parts that employ these lubricants. Aircraft lubricants are also used in space suits to seal the oxygen breathing system’s valves and connectors.
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Aircraft Lubricants Market Scope and Methodology:
Increasing demand for air travel and rising cargo activities – The worldwide Aircraft Market is being propelled forward by expanding demand for air travel and increased cargo activity. People are increasingly moving between cities for professional and personal reasons as a result of the creation of a big middle class, increased urbanisation, and the growth of megacities. Another important factor driving the number of aircraft is the increase in cargo activities. As a result, demand for aviation lubricants is increasing over the world. This is the major driver of the Aircraft Lubricants Market.
Aircraft Lubricants Market Regional Insights
North America dominates the market with the market share of 32% in 2023 due to the presence of large amount of manufacturers and key players and also a vast military fleet which is constantly upgrading. Followed by Europe with the market share of 25% in 2021because of some of the largest key players in aviation market and military fleets. Asia Pacific has the market share of 22% in 2021 as developing countries like China, India, etc. are gradually developing military fleets, vast tourism and recent growth & development in aerospace organizations and is expected to grow at very high pace and go past Europe in coming 5-6 years. Middle East & Africa has the market share of 13% and South America with the market share of 8% are at bottom due to fewer and weaker military fleets and lower aerospace technology standards.
Aircraft LubricantsMarket Segmentation
By Aircraft Type, the Aircraft Lubricants Market is segment as Business Jets, Commercial Jets, Piston Engine Aircrafts, Defence Aircrafts, Helicopters, and Aerospace Aircrafts. Among all of these segments, Commercial Jets dominates the market with the market share of 37% in the year of 2023 because most of the population use these jets to travel these cities and all over the world as they are cheap and convenient. Piston Engine Aircrafts comes second in the market with the market share of 20% in 2021 followed by helicopters with the market share of 16% in 2021 as these segments are in commercial and military use and are amongst the oldest type of aircrafts. Then defence aircrafts have the market share of 13% in 2021, the business jets have the market share of 8% as only few people who are very rich can afford these planes so their market is already very small. Last is Aerospace aircrafts with the market share of 6% as only few countries have the technology to go into space and the missions are also not carried out every single day so the frequency is less but the quantity needed in 1 mission is high.
Aircraft Lubricants Market Key Players
Royal Dutch Shell (Netherlands)
ExxonMobil (US)
Total (France)
BP (UK)
Lukoil (Russia)
Phillips 66 (US),
Eastman Chemical Company (US)
The Chemours Company (US)
Nyco (France)
Nye Lubricants (US)
Las Aerospace Ltd (UK)
Tecsia Lubricants (Singapore)
Ascend Aviation India (India)
Monroe (US)
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Key questions answered in the Aircraft Lubricants Market are:
- What is Aircraft Lubricants ?
- What was the Aircraft Lubricants market size in 2023?
- What is the growth rate of the Aircraft Lubricants Market?
- Which are the factors expected to drive the Aircraft Lubricants market growth?
- What are the different segments of the Aircraft Lubricants Market?
- What growth strategies are the players considering to increase their presence in Aircraft Lubricants ?
- What are the upcoming industry applications and trends for the Aircraft Lubricants Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Aircraft Lubricants Market?
- Who are the leading companies and what are their portfolios in Aircraft Lubricants Market?
- What segments are covered in the Aircraft Lubricants Market?
- Who are the key players in the Aircraft Lubricants market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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