Aerospace Lubricant Market - Global Industry Analysis

Aerospace Lubricant Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Heavy Industry Report Format : PDF Report Code: ZMR-6773 Status : Upcoming

Description

Global Aerospace Lubricant Market: Overview

Greases, engine oils, hydraulic fluids, and special additives & lubricants are generally considered aerospace lubricants. Lubricants play a critical role in keeping the smooth function of the engine and other mechanical components. Machine maintenance is critical in the aviation industry as a failure of any engine component can result in fatal accidents. A key role of aerospace lubricants can be found in oxygen system couplings, regulators, valves, seals, fan motors, instruments, gyroscopes, ground support systems, gimbals, bearings, ball screws, and lead screws.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Aerospace Lubricant Market: Growth Factors

The global aerospace lubricant market is projected to register steady growth over the forecast period. Some of the key factors contributing to the growth of the market include increasing flight frequencies in both developing and developed countries such as United States, United Kingdom, China, and India. This is mainly attributed to the availability of low-cost flights due to lower airfares and increased air travel accessibility to the middle-class population owing to a rise in disposable income. In addition to this, an increase in defense budgets by several emerging economies chiefly by China and India is likely to lift the aviation lubricant demand over the forecast period. Current conflicts between these two major Asian countries have resulted in significant air fleet deals; also many other Southeast Asian countries are strengthening their defense capabilities by replacing older air fleets. These all factors are significantly contributing to the growth of the global aerospace lubricant market. On the other hand, uncertainty in the aerospace industry due to unforeseen climatic or environmental conditions may hinder the growth of the market over the forecast period. However, an increase in governing policies for instance mandate to use group III oil as primary base stock is projected to offer better growth opportunities for the global aerospace lubricant market.

The COVID-19 pandemic has almost vegetated the aviation industry around the world. Pandemic restrictions to curb the spread of the infections have not only reduced the passenger numbers but also the entire air traffic. Reduced passenger number and declination of flying hours of numerous aircraft to such extent eliminated the need for minimal maintenance and inspection check due to a decline in air passenger traffic further reduced the demand for aviation lubricants. On top of this, disparity of supply and demand owing to transport restrictions and inventory stocks in OEMs and MROs has negatively affected the growth of the lubricants market. Moreover, delayed deliveries of new aircraft in the first and second quarters of 2020 have also contributed to slow market growth from the manufacturer's sector.

Global Aerospace Lubricant Market: Segmentation

The global aerospace lubricant market is bifurcated based on product type, technology, applications, end-use, and region. Based on product type, the global aerospace lubricant market is categorized into hydraulic fluid, engine oil, special lubricants & additives, grease, and others. The global aerospace lubricant market, based on technology is segregated into synthetic and mineral-based. The application segment of the market is categorized into hydraulic systems, airframe, engine, landing gear, and others. The end-user segment of the market is split as OEM and aftermarket.

Global Aerospace Lubricant Market: Regional Analysis

Currently, Asia Pacific is the largest regional market for aerospace lubricants and it is expected to register rapid growth during the forecast period. Major factors contributing to the growth of the market in the region include a large network of the aerospace industry, increased number of flight hours, growth in middle-class passenger numbers due to rise in disposal income, and implementation of structural regulations for the maintenance of aviation machinery. Emerging countries in the region such as China and India witnessing a surge in flight hours due to an increase in passenger numbers will also boost regional market growth. Also, business and tourism activities have increased almost double fold in these countries which has contributed to an increase in flight travel. Thus, an increase in maintenance and inspection activities has spurred the demand for aerospace lubricants. Europe is expected to remain the second-largest market for aerospace lubricants over the estimated period. Increasing frequencies in local as well as international flights coupled with increasing emphasis on standard maintenance activities are fueling the market growth in the region. North America is also projected to contribute healthy revenue in the global aerospace lubricant market. Major revenue for the market is anticipated to originate from the United States.

Global Aerospace Lubricant Market: Competitive Players

The global aerospace lubricant market is fragmented, key players are directing their business to develop new products. Besides, big players are likely to invest more in developing regions over the forecast period. Some of the major players operating in the global aerospace lubricant market include Shell, British Petroleum, Exxon Mobil, Total Lubricant, Chevron Corporation, Fuchs Group, Castrol, Phillips 66, Sinopec, Petrobras, Aerospace Lubricant, Inc., and Quaker Chemical Corporation among others.

Global Aerospace Lubricant Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

The global aerospace lubricant market is projected to register steady growth over the forecast period. Some of the key factors contributing to the growth of the market include increasing flight frequencies in both developing and developed countries such as United States, United Kingdom, China, and India. This is mainly attributed to the availability of low-cost flights due to lower airfares and increased air travel accessibility to the middle-class population owing to a rise in disposable income. In addition to this, an increase in defense budgets by several emerging economies chiefly by China and India is likely to lift the aviation lubricant demand over the forecast period.

Some of the major players operating in the global aerospace lubricant market include Shell, British Petroleum, Exxon Mobil, Total Lubricant, Chevron Corporation, Fuchs Group, Castrol, Phillips 66, Sinopec, Petrobras, Aerospace Lubricant, Inc., and Quaker Chemical Corporation among others.

 

Currently, Asia Pacific is the largest regional market for aerospace lubricants and it is expected to register rapid growth during the forecast period. Major factors contributing to the growth of the market in the region include a large network of the aerospace industry, increased number of flight hours, growth in middle-class passenger numbers due to rise in disposal income, and implementation of structural regulations for the maintenance of aviation machinery.

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