Dublin, May 19, 2023 (GLOBE NEWSWIRE) -- The "Aviation Lubricants Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2030F Segmented By Type (By Aircraft Type, By Type, By Technology, By End User, By Region, Competition" report has been added to ResearchAndMarkets.com's offering.
Global Aviation Lubricants Market is anticipated to grow to 2028
Lubricants are essential in aircraft for smooth operations to minimize wear and tear between the parts of the aircraft that are in direct contact. The smooth operation of parts and components, which also contributes to higher fuel economy & engine efficiency, is possible by lubrication. Aerospace lubricants are designed to endure high pressure and heat. Other applications for aviation lubricants include cooling parts, providing anti-corrosion and rust-free qualities, sealing gaps, etc.
Aviation lubricants are designed to lubricate various moving parts of an aircraft engine, such as bearings, gears, camshaft, rocker arms, cylinder walls, piston rings, push rods, and sockets, while offering additional performance characteristics, such as engine cooling and corrosion inhibition.
Factors leading the aviation lubricants market expansion are Global tourism growth, lubricants ever-evolving quality, progress in aviation technology, and others. Furthermore, It is projected that the expansion of the tourist and travel sectors would fuel demand for aviation lubricants.
Due to an increase in aircraft deliveries and a substantial fleet of commercial and regional aircraft, the need for aviation lubricants is growing globally. The value chain for the aviation industry was impacted by the global COVID-19 outbreak.
Delays in collaboration and partnerships were the cause of travel restrictions imposed by numerous nations in Europe, North America, and Asia-Pacific. However, the Global Aviation Lubricants Market is exhibiting indications of recovery and is predicted to rebound in upcoming years because of the expansion of the global logistics business and the increasing travel and tourist industry.
Periodic Maintenance of Aircrafts Drives the Market
International Aviation Authorities such as Federal Aviation Administration (FAA) International Aviation, European Aviation Safety Agency (EASA), and International Civil Aviation Organization (ICAO), etc. have put serious efforts to improve the safety standards of aircraft over the past few decades. Owing to engine failure, a significant number of airliner accidents and incidents are reported every year.
Factors such as ill working and overheating of auxiliary components have been reported in many aircraft incidents as causes of accidents. The overheating of auxiliary components leads to components failure and, eventually, engine failure. According to Our World in Data Organization, passengers per fatality showed a drastic decrease to 5 million in 2020 from 15 million passengers per fatality in 2019.
The money and time invested in the research and development of aviation lubricants have astonishingly improved engine technology through corrosion inhibition and engine cooling. The research and development in aviation lubricants focus on improving engine performance and efficiency.
The global aviation lubricants market is driven by growth in the development of aircraft engines and increasing utilization of aviation lubricants to maintain safety standards. The growing concerns for passenger safety are anticipated to drive the global aviation lubricants market in the forecast years.
Rising Global Tourism
After covid pandemic, demand for public air travel took a pace in both domestic and international travel. The growing air travel safety standards have propelled international tourism to heights.
According to the tourism statistics report published by the United Nations World Tourism Organization (UNWTO), a total of approximately 25 million international tourist arrivals were reported in the year 1950, and 69 years later, the number has advanced to 1.4 billion international arrivals per year in the year 2019, undergoing a growth of 56 times.
The enormous growth in international tourism is attributed to growth in job opportunities, an increase in the number of passenger airlines, rising living standards, etc. The expanding international tourism has led to an increase in the operation of passenger aircraft, consequently driving the global aviation lubricants market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global Aviation Lubricants Market.
- British Petroleum Company PLC
- Royal Dutch Shell plc
- Exxon Mobil Corporation
- Total Energies SE
- The Phillips 66 Company
- The Chemours Company
- Whitmore Manufacturing LLC
- NYE Lubricants INC.
- Eastman Chemical Company
- Aerospace Lubricants INC.
Report Scope:
Global Aviation Lubricants Market, By Aircraft Type:
- Narrow Body Aircrafts
- Rotorcraft
- Business Aircrafts
- Regional Aircrafts
- Wide Body Aircrafts
- Fighter Aircrafts
Global Aviation Lubricants Market, By Type:
- Engine Oil
- Hydraulic Fluid
- Grease
- Special Lubricants & Additives
Global Aviation Lubricants Market, By Technology:
- Synthetic
- Mineral Based
Global Aviation Lubricants Market, By End User:
- Aftermarket
- OEM
Global Aviation Lubricants Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe & CIS
- Germany
- Russia
- France
- Spain
- Italy
- United Kingdom
- Poland
- Netherland
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Thailand
- Middle East and Africa
- Qatar
- Israel
- Saudi Arabia
- United Arab Emirates
- South Africa
- South America
- Argentina
- Brazil
- Colombia
For more information about this report visit https://www.researchandmarkets.com/r/ig8ie0
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