Global aviation lubricants market
Global aviation lubricants market – The global aviation lubricants market is expected to grow from $1.49 billion in 2021 to $1.60 billion in 2022 at a compound annual growth rate (CAGR) of 6.9%. The aviation lubricants market is expected to reach $2.10 billion in 2026 at a CAGR of 7.0%.
The aviation lubricants market consists of the sales of aviation lubricant products by entities (manufacturers, sole traders, and partnerships) that refer to advanced fluids that are used to lubricate the various parts of an aircraft by providing additional functions such as engine cooling, cleanliness, and anti-corrosion.The primary purpose of a lubricant is to reduce friction between moving parts.
Aviation lubricants aid in the maintenance of aircraft engines against wear, sludge, and corrosion, resulting in improved performance and energy efficiency.
The main types of aviation lubricants are engine oil, grease, special lubricants and additives, and hydraulic fluid.The engine oil refers to a type of oil used in the aircraft engine for smooth and effective movement of the engine parts and to reduce friction.
Engine oil in aviation is also used for a number of functions, such as lubrication, cooling, cleaning, corrosion protection, and others.Aviation lubrications uses synthetic and mineral-based technologies in their manufacturing activities and they are used for lubrication of hydraulic systems, engine, landing gear, airframe, and other components.
The end-users of aviation lubricants include business jets and turboprop planes, large commercial jets, piston engine aircraft, defense aircraft, helicopters, and other aircrafts.
North America was the largest region in the aviation lubricants market in 2021. The regions covered in the aviation lubricants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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The rise in air passenger traffic is expected to propel the growth of the aviation lubricants market.Air transportation has been an essential mode of transportation for travel from one location to another and for services.
With the change in the aircraft industry, there is simultaneous growth in air traffic, leading to an increase in the demand for new aircraft and maintenance of the exsisting fleet.This increased passenger traffic leads to a rise in a significant supply of aircraft to regions where growth is expected.
As aircraft have a limited life to serve, the need for aviation lubrication comes into the picture, as it provides additional engine cooling, cleanliness, and corrosion prevention functions to aircraft, which keeps the engine clean and the pistons running smoothly, thus increasing aircraft life. For instance, In May 2022, according to the International Air Transport Association (IATA) report on passenger air traffic, total traffic in March 2022 was up 76.0 % from March 2021 (measured in revenue passenger kilometers, or RPKs). Furthermore, there was a dramatic increase in the air passenger market in Europe, Asia-pacific, and North America, accounting for 85% of overall air passenger traffic. Therefore, the rise in air passenger traffic is expected to boost the demand for aviation lubricants during the forecast period.
The development of eco-friendly and safe aviation fuel and lubricant is a key trend gaining popularity in the aviation lubricants market.Due to the increased environmental concern, the aviation lubricants market is witnessing the need for eco-friendly and safe aviation lubricants.
Sustainable aviation fuel is being identified as a critical component in achieving these objectives.Many companies operating in aviation lubricants are developing lubricants that are ecofriendly and safe to use in nature to provide better products for their clients.
For instance, in January 2021, Xeriant, Inc., a Florida-based developer of commercial aerospace technologies entered into a strategic partnership with Xeriant Europe s.r.o. to launch eco-friendly metal conditioners and lubricants under the name XERI-MC and XERI-L.
In January 2020, Fuchs Petrolub, a German-based lubricants manufacturer, acquired Nye Lubricants Inc. for an undisclosed amount. With this acquisition, Fuchs will expand their speciality lubricants product portfolio by offering engineered solutions across multiple markets and creating opportunities to serve new and high-end critical applications. Nye Lubricants Inc. is a US-based manufacturer of industrial lubricants catering to markets such as aerospace, automotive, defense, and others.
The countries covered in the aviation lubricants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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