Aviation Lubricants Market to be Led by Asia Pacific Region through 2030
Increasing air travel and constantly developing safety
regulations drives the global Aviation Lubricants Market through 2030.
According to
TechSci Research report, “Aviation Lubricants
Market- Global Industry Size, Share, Trends, Competition, Opportunity, and
Forecast, 2018-2030F” Aviation lubricants are being
used to lower friction between metal parts and perform across a wide
temperature range. Aerospace lubricants are used to minimise wear and tear by
lowering friction between the aircraft's direct-contact parts. Lubrication enables
parts and components to function without interruption, which improves fuel
economy and engine performance. Aerospace lubricants are made to withstand
intense heat and pressure.
The
number of passengers per fatality has dramatically decreased, from 15 million
in 2019 to 5 million in 2020, according to the Our World in Data Organization.
Organizations investing in aviation lubricant research and development have
dramatically enhanced engine technology through corrosion prevention and engine
cooling. The performance and effectiveness of engines are the main goals of
aviation lubricant research and development. Additionally, it is projected that
over the coming years, rising passenger safety concerns will fuel the worldwide
aviation lubricants industry.
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Aerospace
lubricants continue to advance technologically, with perfluoropolyether-based
oil & greases providing a significant property. The primary characteristic
of this oil is that it remains lubricious and viscous between the temperatures
of 710°F and 7500°F. Some lubricants have distinguishing qualities such as being
non-flammable, non-evaporative, and non-toxic, as well as being compatible with
a variety of metals, paints, and elastomers. The market for international
aerospace lubricants is moving in a more positive direction because of the
increased demand for these products.
Due
to the expanding demand for air travel as well as increased freight activities,
aviation lubricants are anticipated to see a considerable increase in demand.
Furthermore, the trend is expected to continue during the projected period
because to the rising urbanisation and industrialization that have already
contributed to a rise in air travel in recent years. Following the
covid epidemic, demand for both domestic and international public air travel
has increased. The significant increase in foreign travel is ascribed to
factors such as rising living standards, more job opportunities, and an
increase in the number of passenger carriers. The worldwide aviation lubricants
industry is being driven by the growing demand for passenger aircraft because
of growing international tourism. Owing to above factors growth of aviation
lubricants market shows growth in upcoming years.
Aviation
lubricants Market based on
aircraft type is segmented by aircraft type, type, technology, end user, and by
region. Based on the aircraft type, the market is segmented into Narrow Body
Aircrafts, Rotorcraft, Business Aircrafts, Regional Aircrafts, Wide Body
Aircrafts, and Fighter Aircrafts. Based on type it is divided into Engine Oil,
Hydraulic Fluid, Grease, Special Lubricants & Additives and based on end
user, the market is segmented into Aftermarket and OEM. The market analysis is also segmented by
region among Asia-Pacific, Europe, North America, South America, Middle East &
Africa.
Some of the major companies operating in the global aviation
lubricants market include:
- British Petroleum Company PLC
- Royal Dutch Shell plc
- Exxon Mobil Corporation
- TotalEnergies SE
- The Phillips 66 Company
- The Chemours Company
- Whitmore Manufacturing LLC
- NYE Lubricants INC.
- Eastman Chemical Company
- Aerospace Lubricants INC
These are the key players developing advanced
technologies and launching new products to stay competitive in the market.
Other competitive strategies include mergers with tech firms, new product
developments, and marketing activities to increase customer outreach.
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“As air traffic for both cargo and transit
expands across various regions of the world, the need for more efficient
lubricating systems increases. It is projected that demand for aviation
lubricants in emerging nations, particularly in Asia Pacific, will increase in
the coming years, making Asia Pacific one of the leading regions in the global
aviation lubricants market.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Aviation Lubricants Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2030F, Segmented By Type (By Aircraft Type (Narrow Body
Aircrafts, Rotorcraft, Business Aircrafts, Regional Aircrafts, Wide Body
Aircrafts, and Fighter Aircrafts), By Type (Engine Oil, Hydraulic Fluid,
Grease, Special Lubricants & Additives), By Technology (Synthetic and
Mineral Based), By End User (Aftermarket and OEM), By Region, Competition” has evaluated
the future growth potential of global Aviation Lubricants Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global aviation lubricants market.
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