WASHINGTON, June 12, 2023 (GLOBE NEWSWIRE) -- The Global Aviation Lubricants Market is valued at USD 0.72 Billion in 2022 and is projected to reach a value of USD 1.15 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 5.9% over the forecast period 2023-2030.
Market Overview
One of the key factors propelling the growth of the aviation lubricant industry is the volume of passengers flying worldwide. The increased use of Aviation Lubricants, which increase engine operational efficiency by reducing friction between two coated surfaces, spurs market expansion. The market is also influenced by regulatory rules, such as the requirement of group III oil as the principal base stock and the increase in the distance that can be traveled on a certain amount of fuel.
We forecast that the commercial aviation category in Aviation Lubricants market sales will account for more than 46% of the market share by 2030. Private aviation is not a part of civil aviation, including commercial aviation. Commercial aviation has a huge economic contribution because it not only moves people and goods throughout the world but also employs millions of people, which expands the market.
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Market Dynamics
Increased Investments in Defense Sector will Support Market Expansion
Military aircraft that are employed for defense make up military aviation. 2020 saw a significant increase in military spending due to trade conflicts, geopolitical tensions, and a general need to fortify the defense. The Stockholm International Peace Research Institute (SIPRI) conducted research that found that global military spending increased by 2.6% from $1.917 trillion in 2019 to $1.981 trillion in 2020. According to the company's annual report, in 2020, 51% of revenue came from U.S. government contracts, while overseas military sales accounted for around 37%. Hence, increased military aircraft manufacturing would demand more aerospace components, which will drive the aerospace lubricant market over the forecast period.
Rising Investment in Space Technology to Boost Market Expansion
New and current space technologies are steadily being invested in, with financing coming from both public and commercial sources. In 2020, space missions were launched by the UAE, China, and the US. In 2020, American aerospace company SpaceX made history by being the first private business to launch humans into orbit and to the International Space Station. Moreover, Starlink, a commercial satellite internet service, was launched by SpaceX. While oils and greases cannot be utilized in spacecraft because of the significant temperature differences, solid lubricants, anti-wear coatings, and self-lubricating composites are employed instead. According to ongoing research, perfluoropolyethers, polyalphaolefins, and cyclopentanes may be appropriate for space applications. As a result, the aerospace lubricant industry is driven by investments in space technologies.
Top Players in the Global Aviation Lubricants Market
- Aerospace Lubricants Inc. (U.S.)
- Eastman Chemical Company (U.S.)
- Exxon Mobil Corporation (U.S.)
- Jet-Lube (Whitmore Manufacturing LLC) (U.S.)
- LANXESS (Germany)
- LUKOIL (Russia)
- NYCO (France)
- Nye Lubricants Inc. (FUCHS PETROLUB) (Germany)
- ROCOL (UK)
- Royal Dutch Shell PLC (UK)
- The Chemours Company (U.S.)
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Top Trends in Global Aviation Lubricants Market
- One trend that Vantage Market Research (VMR) expects to see in the Aviation Lubricants industry is an increasing number of airports. The growing world population is anticipated to increase demand for new airports to facilitate air travel. The increased investment in the airline sector is also anticipated to meet the demand for new airport construction in developing nations. By developing cutting-edge and effective military aircraft and air bases, the government of many nations is bolstering its military capabilities. Hence, it is anticipated that the demand for Aviation Lubricants will rise due to the growing number of private airports and private jets as well as significant investments in commercial and military aircraft.
- Another trend that VMR predicts will continue in the Aviation Lubricants industry is the growing number of airline passengers. Since air travel is the fastest and safest means of transportation with the fewest flight cancellations, most travelers worldwide prefer it over traditional transit routes like land and water. Because of this, flying is more dependable than other forms of transportation and provides a pleasurable ride. Customers enjoy flying despite the cost, thanks to increased discretionary cash.
Top Report Findings
- The Engine Oil category controls most of the Aviation Lubricants market's revenue based on Type. Engine Oil serves various purposes, including reducing friction, cooling, sealing, cleaning, and safeguarding moving parts. Oils are a fluid barrier between moving parts to reduce wear and friction. A plane's air-cooled engine gets about 40% of its cooling from engine oil.
- Based on the Technology, most of the Aviation Lubricants market's revenue is controlled by the Mineral Based category. Crude oil is converted into mineral oil-based lubricants through solvent extraction, distillation, and cracking. Mineral-based lubricants have superior solvency, which makes them preferable to synthetic lubricants for certain applications.
- Based on End User, most of the Aviation Lubricants market's revenue is controlled by Aftermarket category. The companies and organizations in the aftermarket category provide maintenance, repair, and overhaul services for aircraft (MRO). Because there are so many operating aircraft, the aftermarket aviation lubricant industry now holds the top spot (parked aircraft).
- Based on Application, most of the Aviation Lubricants market's revenue is controlled by Engine categories. Aerospace lubricants are used in various components, including airframes, the spine shaft of an auxiliary drive, fan motors, control valves, bearings, and seals for liquid-fueled turbines, among others. The engine relies heavily on lubricants.
- Based on Platform, most of the Aviation Lubricants market's revenue is controlled by commercial aviation categories. Commercial aircraft include passenger aeroplanes, freighters, and private jets. Regular maintenance was required for the freighters, including grease application to the wheels and engine oil changes. As a result, the market for aerospace lubricants increased.
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Recent Developments in the Global Aviation Lubricants Market
- April 2022: An aerospace company specializing in Advanced Air Mobility, Xeriant, Inc., and Movychem s.r.o. formed a partnership. Through involvement in app development and the commercialization of Retacell-based products, the new collaboration formed US-based cooperation between Xeriant and Movychem for ecologically friendly Retacell fire retardant technology.
- January 2021: The next generation of environmentally friendly metal conditioners and lubricants, known as XERI-MC and XERI-L, is being developed by Xeriant Corporation in conjunction with Xeriant Europe s.r.o. They are now being distributed worldwide under an exclusive licensing arrangement.
Engine Oil Category of the Type Segment of the Aviation Lubricants Market Forecast to Generate More Than Half the Total Global Segment Revenue
For better understanding, based on the Type, the Aviation Lubricants market is divided into Engine Oil, Grease, and Special Lubricants & Additives.
The Engine Oil segment is expected to dominate the market for Aviation Lubricants. Jet engines and aircraft turbines are lubricated with oils to ensure smoother operation. Because of how they function, engine oil gets contaminated by gasoline, moisture, acids, dirt, carbon, and metallic flakes. To maintain optimal engine performance, which fosters the expansion of the Aviation Lubricants market, airlines are urged to replace engine oil every 50 hours or four months, whichever comes first.
On the other hand, the Grease category is anticipated to be the fastest growing category in the Aviation Lubricants market. A solid or semi-solid material called grease protects, seals, and lubricates aircraft parts. Grease's three main ingredients are base oil, thickeners, and additives. To avoid settling and to provide lubrication, thickener provides grease a firm or semi-solid texture, promoting market growth.
North America Region of the Global Aviation Lubricants Market Anticipated to Generate a Substantial Amount in Terms of Revenue
North America dominates the market throughout the projection period. The growth of the North American market is being fueled by changes in the working hours of commercial aircraft fleets of various airlines as well as the development of aircraft fleets used by various countries' armed forces in the region. This is because there are more big aircraft manufacturers now, which has led to more products being deployed around the area. Furthermore, the need for higher-quality aircraft lubricants is rising as a result of the need to reduce component maintenance.
The Asia Pacific is expected to be the fastest growing region in the Aviation Lubricants market. Rapid growth in air travel throughout Asia-Pacific has increased the need for both new airport construction and airport refurbishment. In addition, most of the region's governments now permit domestic flights, promoting the worldwide market's rise. Furthermore, the rise in air passenger traffic has prompted the entry of new businesses, which in turn has increased the number of aircraft deployments, which is expected to boost the market in this region simultaneously.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Aviation Lubricants Market Forecast Report (2023-2030).
Global Aviation Lubricants Market Segmentation
By Type
- Engine oil
- Grease
- Special lubricants & additives
By Technology
- Mineral Based
- Synthetic
By End User
- OEM
- Aftermarket
By Application
- Hydraulic systems
- Engine
- Landing gear
- Airframe
- Other Applications
By Platform
- Commercial aviation
- Military aviation
- Business & general aviation
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 0.72 Billion |
| Revenue Forecast by 2030 | USD 1.15 Billion |
| CAGR | 5.9% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Aerospace Lubricants Inc., Eastman Chemical Company, Exxon Mobil Corporation, Jet-Lube (Whitmore Manufacturing LLC), LANXESS, LUKOIL, NYCO, Nye Lubricants Inc. (FUCHS PETROLUB), ROCOL, Royal Dutch Shell PLC, The Chemours Company |
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