Increasing air travel and constantly developing safety regulations drives the global Aviation Lubricants Market through 2030.
According to TechSci Research report, “Aviation Lubricants Market– Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2030F” Aviation lubricants are being used to lower friction between metal parts and perform across a wide temperature range. Aerospace lubricants are used to minimise wear and tear by lowering friction between the aircraft’s direct-contact parts. Lubrication enables parts and components to function without interruption, which improves fuel economy and engine performance. Aerospace lubricants are made to withstand intense heat and pressure.
The number of passengers per fatality has dramatically decreased, from 15 million in 2019 to 5 million in 2020, according to the Our World in Data Organization. Organizations investing in aviation lubricant research and development have dramatically enhanced engine technology through corrosion prevention and engine cooling. The performance and effectiveness of engines are the main goals of aviation lubricant research and development. Additionally, it is projected that over the coming years, rising passenger safety concerns will fuel the worldwide aviation lubricants industry.
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Aerospace lubricants continue to advance technologically, with perfluoropolyether-based oil & greases providing a significant property. The primary characteristic of this oil is that it remains lubricious and viscous between the temperatures of 710°F and 7500°F. Some lubricants have distinguishing qualities such as being non-flammable, non-evaporative, and non-toxic, as well as being compatible with a variety of metals, paints, and elastomers. The market for international aerospace lubricants is moving in a more positive direction because of the increased demand for these products.
Due to the expanding demand for air travel as well as increased freight activities, aviation lubricants are anticipated to see a considerable increase in demand. Furthermore, the trend is expected to continue during the projected period because to the rising urbanisation and industrialization that have already contributed to a rise in air travel in recent years. Following the covid epidemic, demand for both domestic and international public air travel has increased. The significant increase in foreign travel is ascribed to factors such as rising living standards, more job opportunities, and an increase in the number of passenger carriers. The worldwide aviation lubricants industry is being driven by the growing demand for passenger aircraft because of growing international tourism. Owing to above factors growth of aviation lubricants market shows growth in upcoming years.
Aviation lubricants Market based on aircraft type is segmented by aircraft type, type, technology, end user, and by region. Based on the aircraft type, the market is segmented into Narrow Body Aircrafts, Rotorcraft, Business Aircrafts, Regional Aircrafts, Wide Body Aircrafts, and Fighter Aircrafts. Based on type it is divided into Engine Oil, Hydraulic Fluid, Grease, Special Lubricants & Additives and based on end user, the market is segmented into Aftermarket and OEM. The market analysis is also segmented by region among Asia-Pacific, Europe, North America, South America, Middle East & Africa.
Some of the major companies operating in the global aviation lubricants market include:
- British Petroleum Company PLC
- Royal Dutch Shell plc
- Exxon Mobil Corporation
- TotalEnergies SE
- The Phillips 66 Company
- The Chemours Company
- Whitmore Manufacturing LLC
- NYE Lubricants INC.
- Eastman Chemical Company
- Aerospace Lubricants INC
These are the key players developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers with tech firms, new product developments, and marketing activities to increase customer outreach.
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“As air traffic for both cargo and transit expands across various regions of the world, the need for more efficient lubricating systems increases. It is projected that demand for aviation lubricants in emerging nations, particularly in Asia Pacific, will increase in the coming years, making Asia Pacific one of the leading regions in the global aviation lubricants market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Aviation Lubricants Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2030F, Segmented By Type (By Aircraft Type (Narrow Body Aircrafts, Rotorcraft, Business Aircrafts, Regional Aircrafts, Wide Body Aircrafts, and Fighter Aircrafts), By Type (Engine Oil, Hydraulic Fluid, Grease, Special Lubricants & Additives), By Technology (Synthetic and Mineral Based), By End User (Aftermarket and OEM), By Region, Competition” has evaluated the future growth potential of global Aviation Lubricants Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global aviation lubricants market.
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