The global aviation lubricants market stood at USD4.95 billion in 2021 and is anticipated to grow at a CAGR of 5.68% in the forecast period. The booming tourism industry and the high demand for aviation lubricants from the aviation industry to optimize fuel efficiency and fuel economy are driving the global aviation lubricants market demand. The rise in air traffic and the lowered airfare rates are increasing the number of aircrafts, which is expected to boost the demand for aviation lubricants in the forecast period.
There is a massive rise in the fleet size of commercial and military aircraft, including narrow body aircraft, wide body aircraft, regional aircraft, business aircraft, rotorcrafts, fighter aircraft. Also, spacecraft or rockets use aviation lubricants to reduce the necessary maintenance requirements during long missions. The market players focus on research and development activities to find innovative solutions to provide better quality products with reduced cost to achieve high fuel efficiency and economy. The advent of technologically advanced aviation lubricants, such as perfluoropolyether-based oil and greases, is expected to create lucrative growth opportunities for the global aviation lubricants market in the next five years.
The global aviation lubricants market is segmented based on type, aircraft type, technology, end user, regional distribution, and competitive landscape. Based on the regional analysis, the North American region led the market in 2021 with a market share of 42.53% and is expected to maintain its dominance through the next five years. North American region has the largest fleet of general aviation aircraft, and the factors like improved efficiency of the aircraft engine and lower price are boosting the growth of the aviation industry. The presence of a large number of manufacturers and the high air traffic volume in the region is driving the aviation lubricants demand. The United States is among the prominent consumers and producers of aviation lubricants around the globe, and the high demand from the aviation industry is expected to propel the market growth for the next five years.
BP plc, Royal Dutch Shell plc, Exxon Mobil Corporation, Total Energies, The Phillips 66 Company, The Chemours Company and others are the major market players operating in the global aviation lubricants market.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F-2027F
Objective of the Study:
- To analyze the historical growth in the market size of the global aviation lubricants market from 2017 to 2021.
- To estimate and forecast the market size of the global aviation lubricants market from 2022E to 2027F and growth rate until 2027F.
- To classify and forecast the global aviation lubricants market into type, aircraft type, technology, end user, by region, and competitive landscape.
- To identify drivers and challenges for the global aviation lubricants market.
- To examine competitive developments such as expansions, new product launches, mergers, and acquisitions, etc., in the global aviation lubricants market.
- To conduct pricing analysis for the global aviation lubricants market.
- To identify and analyze the profile of leading players operating in global aviation lubricants market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of leading companies across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the companies which could not be identified due to the limitations of secondary research. TechSci Research analyzed the aviation lubricant manufacturers, distribution channels and presence of all major players operating in the global aviation lubricants market all over the world.
TechSci Research calculated the global aviation lubricants market size using a bottom-up approach, where data for end user segment was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Aviation lubricants manufacturers/ suppliers/ distributors
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to aviation lubricants
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as aviation lubricant manufacturers, suppliers, distributors, and other stakeholders. The report would enable the stakeholders in strategizing investments and capitalizing on emerging market opportunities.
In this report, global aviation lubricants market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Aviation Lubricants Market, By Type:
o Engine Oil
o Hydraulic Fluid
o Special Lubricants & Additives
- Aviation Lubricants Market, By Aircraft Type:
o Narrow Body Aircrafts
o Business Aircrafts
o Regional Aircrafts
o Wide Body Aircrafts
o Fighter Aircrafts
- Aviation Lubricants Market, By Technology:
o Mineral Based
- Aviation Lubricants Market, By End User:
- Aviation Lubricants Market, By Region:
o North America
? United States
o Asia Pacific
? South Korea
? United Kingdom
o Middle East and Africa
? South Africa
? Saudi Arabia
? United Arab Emirates
o South America
Company Profiles: Detailed analysis of the major companies present in global aviation lubricants market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).