Aviation Lubricants Market Statistics - 2027
The global aviation lubricants market was valued at $2.24 billion in 2019, and is projected to reach $2.84 billion by 2027, registering a CAGR of 6.2%.Lubricants are used to reduce friction and wear between two moving parts/surface of aircrafts. Lubrication plays a vital role in safe operation of any type of aircraft and has to be replaced periodically as a part of maintenance process. In addition, use of lubricants allows aircrafts to operate at ultimate performance and efficiency.
COVID Impact Analysis:
With the advent in COVID-19 pandemic across the globe, the aviation lubricants market has been affected as the aviation industry itself is one of the badly affected industries in most of countries across the globe, owing to the travel restrictions and government declared lockdowns. In addition, cancellation of domestic as well as international flights has affected the market growth.
The aviation lubricants market is driven by factors such as rise in number of airline passengers, coupled with increase in disposable income; increase in consumption of synthetic lubricants; and rise in number of airports. However, contamination of lubricants restrict the market growth. Moreover, rise in demand for low density lubricants for reduced weight and development of ecofriendly and safe aviation lubricants create lucrative growth opportunities for the market.
The global aviation lubricants market is segmented on the basis of type, technology, end user, application, platform, and region. By type, the market is segmented into hydraulic fluid, engine oil, grease, and special lubricants & additives. Further, by technology, it is segmented into mineral based and synthetic. By end user, it is bifurcated into OEM and aftermarket. Moreover, on the basis application, it is divided into hydraulic systems, engine, landing gear, airframe, and others. By platform, it is divided into commercial aviation, military aviation, and business & general aviation.
Region wise, the aviation lubricants market is segmented into North America, Europe, Asia-Pacific, and LAMEA including country level analysis for each region.
Some of the key players in the aviation lubricants market are Exxon Mobil Corporation, Aerospace Lubricants, Inc., The Chemours Company, Royal Dutch Shell plc, NYCO, LANXESS, LUKOIL, Nye Lubricants, Inc., Eastman Chemical Company, ROCOL, and JET-LUBE.
By Type
Special lubricants & additives segment is projected as the most lucrative segments
Rise in number of airline passengers, coupled with increased disposable income
Most passengers across the globe prefer to travel by air than other conventional modes of transportation such as road and sea as it is the safest and fastest mode of transportation with fewest cancelled flights. This makes air travel more reliable than other modes of transportation and offers comfortable experience during the journey. Though expensive, customers prefer air travel, owing to the rise in disposable income. Further, in accordance with data released by the International Civil Aviation Organization (ICAO), 4.3 billion passengers were carried by airlines in the year 2018. Moreover, number of airline passengers is expected to cross 10.0 billion by the year 2040, which would create need for additional aircrafts to transport passengers from point A to point B. This eventually results in increased aircraft fleet size as well as frequency of flights, which requires frequent maintenance services and in turn would boost growth of the global aviation lubricants market.
Increase in consumption of synthetic lubricants
Synthetic lubricants ensure thermal stability, increased energy efficiency, better performances at extreme conditions, and resistance to oxidation, which drives growth of the global aviation lubricants market.
By Technology
Mineral based segment is projected as the most lucrative segments
Moreover, synthetic lubricants also provide enhanced resistance to frictional wear of expensive aircraft components and higher lubricant service life, which propels growth of the global aviation lubricants market.
Rise in number of airports
Air transportation is considered as the safest mode, when compared with other modes of transportation. In addition, global increase in population is anticipated to create demand for additional airports to facilitate ease for air transportation, which drives the market growth. In spite of poor sales stats of aircrafts in the year 2020, owing to the COVID-19 pandemic situation, the market conditions are expected to get back to normal and sales are expected to rise in the future. Moreover, it is anticipated that large investments in the industry would cater to needs of new airports, especially in developing countries/regions.
Moreover, most of developing countries have plans to open new airports to facilitate air transportation within and across countries. For instance, as a part of PM Narendra Modi’s vision to make India a $5 trillion economy by end of 2025, India is planning to open additional 100 airports by the end of 2024. Further, in year 2018, leading aircraft manufactures successfully delivered 1,606 commercial aircrafts and received new aircraft orders of 1,640 for year 2019. This clearly shows increase in commercial aircraft orders, which boosts growth of the market.
By Region
LAMEA by region segment is projected as the most lucrative segments
Key Benefits For Stakeholders
- This study presents analytical depiction of the aviation lubricants market analysis along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities of the market with a detailed impact analysis.
- The current aviation lubricants market size is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the aviation lubricants industry.
Aviation Lubricants Market Report Highlights
| Aspects | Details |
 By Type |
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 By TECHNOLOGY |
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 By END USER |
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 By APPLICATION |
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 By PLATFORM |
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 By Region |
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 Key Market Players | THE CHEMOURS COMPANY, LUKOIL, ROCOL, EASTMAN CHEMICAL COMPANY, AEROSPACE LUBRICANTS, INC., EXXON MOBIL CORPORATION, LANXESS, JET-LUBE (WHITMORE MANUFACTURING LLC), NYE LUBRICANTS, INC. (FUCHS PETROLUB), NYCO, ROYAL DUTCH SHELL PLC |
Analyst Review
In accordance to insights of CXOs of leading companies, the aviation lubricants market is projected to witness a moderate growth rate, as the world is slowly moving toward normalcy after the COVID-19 pandemic, which is expected to result into increase of domestic as well as international flights. Companies in this industry are adopting various innovative techniques to provide customers with advanced and innovative lubricants.
Aviation lubricants reduce effects of rust and corrosion on various components such as engines, hydraulic systems, landing gears, and airframes. In addition, quality, type, and grade of lubricants used varies according to the type of aircraft.
Further, the market is consolidated by the presence of major key players such as Exxon Mobil Corporation, Aerospace Lubricants, Inc., The Chemours Company, Royal Dutch Shell plc, NYCO, LANXESS, LUKOIL, Nye Lubricants, Inc., Eastman Chemical Company, ROCOL, and JET-LUBE. These players have adopted efficient techniques to develop innovative products. LAMEA is expected to witness the highest growth rate during the forecast period, owing to lucrative opportunities offered by underlying countries.
The global aviation lubricants market was valued at $2.24 billion in 2019, and is projected to reach $2.84 billion by 2027, registering a CAGR of 6.17% from 2020 to 2027
With the advent in COVID-19 pandemic across the globe, the aviation lubricants market has been affected as the aviation industry itself is one of the badly affected industries in most of countries across the globe, owing to the travel restrictions and government declared lockdowns
The report sample for global aviation lubricants market report can be obtained on demand from the website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.
Aerospace Lubricants, Inc. announced expansion of its grease manufacturing plant in Columbus, Ohio, which would add 10 million pounds of grease production capacity to its portfolio
The aircraft manufacturers, airlines and third party aircraft maintenance services providers are the key customers for the players operating in the aviation lubricants industry.
The company profiles of the top ten players of the aviation lubricants market market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the industry along with their last three year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.
Asia-Pacific region is leading the global aviation lubricants market presently. However, LAMEA is expected to grow at lucrative rate over other regions.
By technology, the synthetic segment dominated the global aviation lubricants market in 2019. Whereas, mineral based segment is expected to grow at the highest CAGR during the forecast period
The key matured markets are the countries such as U.S., China, Russia, and others which are leading the market at present owing to the high operational aircraft fleet.
The major companies profiled in the aviation lubricants market share include Exxon Mobil Corporation, Aerospace Lubricants, Inc., The Chemours Company, Royal Dutch Shell plc, NYCO, LANXESS, LUKOIL, Nye Lubricants, Inc., Eastman Chemical Company, ROCOL, and JET-LUBE
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