20-Apr-2021 | Market Research Store
The Global Aviation Lubricants Market Is Fueled By The Demand For Commercial And Military Aviation Growth Across The World.
Aviation lubricants are intended to lubricate engine moving parts such as gears, bearings, rocker arms, driveshafts, piston rings, cylinder walls, pushrods, and sockets under a wide variety of operating temperatures, as well as provide additional functions for engine ventilation, cleanliness, and corrosion inhibition. Infrequently used aircraft, in particular, need the corrosion and rust protection that good aviation lubricants will offer. Unused aircraft are prone to rust and corrosion, as well as other downtime issues. The cheaper it is to clean and lubricate an aircraft the more often and reliably it is flown. The aviation lubricants market is expected to rise due to increased demand from military and commercial airline industries.
The global economy and market scenario in major industries around the world have been influenced by COVID-19's Coronavirus outbreak in 2020. The pandemic scenario has resulted in limitations in supply-chain instability, trading policies, manufacturing operations, and other incidents in the global lockout. Most of the aircraft industry has been halted due to the COVID-19 epidemic. To meet the threats faced by the pandemic, fleet readiness and repair are critical. The demand for aviation lubricants has decreased as a result of reduced maintenance and inspection tests due to a decrease in air passenger traffic and a reduction in flight hours of different aircraft. The lubricants market's development has been hampered by a mismatch of supply and demand caused by available inventory supplies in OEM and MRO industries, as well as production units. Furthermore, owing to lockdowns in different countries, aircraft deliveries have been postponed in the first and second quarters of 2020, further reducing producer sales. Manufacturers must meet the demanding demands of airlines and travelers in terms of health safety and social distancing norms. Aircraft suppliers, aftermarket companies, and MRO providers must work hard to regain passenger interest in the return to normalcy. As a result of slow demand from end-use sectors, the high-growth aviation lubricants industry is projected to slow down in 2020. On the other hand, the economy is improving, and enterprises have resumed activities with reduced capabilities and in compliance with government regulations. End-use sectors are expected to be fully operational by 2021, resulting in high demand for aircraft lubricants. As a result, the demand is expected to grow at a rapid rate over the forecast period.
Based on existing and planned trends, the market for aviation lubricants is expected to be around USD 1,870.0 million in 2019, and around USD 3,040.0 million by the end of 2026. The companies and analysts forecast a CAGR of about 7.2% for the global aviation lubricants industry. To increase profitability, airlines are expanding their commercial fleets and aircraft operating hours, especially in emerging markets such as India and China. These massive and growing fleets are fueling the growth of the aviation lubricants industry.
Some of the leading and key companies in the aviation lubricants market contain Royal Dutch Shell, ExxonMobil, Total, British Petroleum, Lukoil, Phillips 66, Eastman Chemical Company, The Chemours Company, Nyco, Nye Lubricants, Petrobras, DuPont, Sinopec, Castrol, Quaker Chemical Corporation, Rocol, Jet-Lube, Mcgee Industries, Inc., and Tiodize Co., Inc., among others.
Browse the full “Aviation Lubricants Market By Type (Hydraulic Fluid, Engine Oil, Grease, and Special Lubricants and Additives), By Technology (Mineral-based, and Synthetic), By Platform (Commercial Aviation, Military Aviation, and Business & General Aviation), By Application (Hydraulic Systems, Engine, Landing Gear, Airframe, and Others), By End-User (OEM, and Aftermarket): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.marketresearchstore.com/market-insights/aviation-lubricants-market-828577
The demand for aviation lubricants is expected to be driven by the region's increase in the number of airline passengers along with an increase in disposable income, an increase in synthetic lubricant demand, and an increase in the number of airports. Various countries' commercial and military aircraft fleets are expanding. This is due to an increase in global demand for air travel, especially in the Asia Pacific and the Middle East's emerging economies. Several major economies around the world are expanding th12eir military fleets in parallel with their commercial aircraft fleets. Commercial aircraft fleets, including narrow-body aircraft, wide-body aircraft, very large aircraft, and international transport aircraft, are rapidly expanding in different countries. Big fighter fleets, including combat and non-combat helicopters, are present in major countries such as the United States, China, Russia, and the United Kingdom. As a result, the growing market for aviation lubricants in the aviation industry is a major growth driver. In addition, most travelers choose to fly by air over other traditional modes of transportation such as road and sea because it is the safest and cheapest mode of transportation with the fewest flight cancellations. As a result, air travel is more dependable than other means of transportation and has a more pleasant ride. As a result, the size of the aircraft fleet grows, as does the number of flights, necessitating more routine maintenance, which boosts the global aviation lubricants industry. Growing globalization, which has increased investments, and properties of aviation lubricants, and ample raw material supply leads to propel the global aviation lubricants market's expansion. Major developments in aviation lubricants technology, as well as significant investments by leading research and development manufacturers, are expected to propel the global aviation lubricants market in the upcoming years. However, the contamination of lubricating oils may hamper the global aviation lubricants market. Furthermore, in the coming years, the increasing need for low-density lubricants to reduced weight is anticipated to open up new opportunities for aviation lubricant manufacturers.
The global aviation lubricants market is segmented as type, technology, platform, application, end-user, and region. By type, the global market is divided into the engine oil, special lubricants and additives, hydraulic fluid, ad grease. By technology, the global market is divided into mineral-based, and synthetic. By platform, the global market is divided into military aviation, commercial aviation, and business & general aviation. By application, the global market is divided into the engine, hydraulic systems, airframe, landing gear, and others. By end-user, the global market is divided into OEM and aftermarket. Geographically, the global aviation lubricants market is divided into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
In terms of geography, North America represents a higher demand for the aviation lubricants market followed by the European region. North America has the world's second-largest commercial aircraft fleet, which reflects the region's strong demand for aviation lubricants. Furthermore, an increase in the number of domestic passengers, especially in countries like the United States, Canada, and others, is boosting the North American market. One of the main factors driving demand for aviation lubricants is the presence of major aircraft manufacturers such as Boeing, Embraer, and Bombardier, as well as major airlines such as Virgin America and Delta Air Lines in the North American region. Because of the developed aviation industry in the area, the region is expected to maintain its supremacy in the aviation lubricants market during the forecast period. Furthermore, factors such as low oil prices and increased aircraft operations performance are boosting the aviation industry's growth in the North American region. Europe has promising business growth opportunities. In the field, France, the United Kingdom, and Italy have emerged as attractive markets for aviation lubricants. The European aviation lubricants market is expected to expand at a rapid pace, thanks to abundant raw materials and rising passenger traffic. Demand from China, Japan, North Korea, and other Asian countries would benefit the competition in the Asia Pacific. The growth of the aviation lubricants industry in the area would be supported by an increase in the number of space programs and other similar initiatives. Furthermore, the arrival of big players is projected to increase demand even further. In addition, the arrival of major players is expected to boost demand even further. The province's market for aviation lubricants will be driven by the heavy presence of prominent aviation lubricant manufacturers, as well as private sector investment in manufacturing and expansion of R&D operations.
Global Aviation Lubricants Market: Regional Segment Analysis
Market Research Store is a single destination for all types of industries, global, and regional reports. We feature large repository of latest industry reports and market statistics published by reputed private publishers and public organizations. Market Research Store is the comprehensive collection of market intelligence products and services available. Our vast database of reports enables our clients to benefit from expert insights on global industries, products, and market trends.
Market Research Store
244 Fifth Avenue, Suite N202
New York, 10001, United States
US OFFICE NO +1-386-310-3803
US/CAN TOLL FREE +1-855-465-4651