Future Market Insights
Lubrication requirements of an aircraft are generally very critical due to the three factors that dominate aircraft design – need for high reliability, minimizing component weight & volume and ability to withstand extreme environmental conditions. Furthermore, aircraft engines must be lubricated to withstand extreme temperature and friction witnessed during high speed turbine revolution of aircraft engines, which is also capable of destroying aircraft engines. Early gas turbines successfully ran on mineral oil. However, demand for new lubricants increased with the introduction of new gas turbine engines in mid-1900s. With the evolution of technology, turbo oils have shifted their focus from mineral to synthetic oils as unlike mineral oils, synthetic oils can maintain good viscosity and remain stable at high temperatures and are also less volatile. Moreover, minimization of friction losses in an engine can be achieved through correct lubricating oil selection while taking various circumstances, such as ambient temperature, engine design, engine usage, time of year and climate, into consideration. Gas turbine oil type lubricants are estimated to dominate the aircraft lubricant market during the forecast period owing to increasing engine efficiency due to efficient cooling provisions and corrosion prevention as well as the presence of cool and wash away debris, which serves as the diagnostic medium for engine monitoring features and lubricating moving parts. Manufacturers are offering single or multi-grade mineral oils containing ash-free dispersing agents to meet international specifications.
Aircraft Lubricant Market: Dynamics:
Rising passenger traffic may lead to increased demand for more aircrafts, which is expected to fuel the demand for global aircraft lubricants over the forecast period. Furthermore, stringent regulations in Europe and North America to enhance safety and increasing investment by Russian, Indian and Chinese aerospace industry on defense are some of the major driving factors expected to contribute to aircraft lubricant market growth during the forecast period. Moreover, lubricants provide engines with added features, such as thermal stability and constant viscosity during escalated operating temperatures and pressure. That apart, aircraft lubricants also grant long life and anti-wear properties, directly effecting aircraft fuel efficiency. This is yet another factor estimated to drive the growth of the aircraft lubricant market during the forecast period. Some aircraft lubricants escape through vent lines or other parts of the oil circulation system and affect aircraft performance. This specific factor is anticipated to hamper the growth of the global aircraft lubricant market during the forecast period.
Aircraft Lubricant Market: Segmentation:
The global aircraft lubricant market can be segmented on the basis of product type, end-use and grade.
On the basis of product type, the global aircraft lubricant market is segmented into:
Gas Turbine Oil
On the basis of end-use, the global aircraft lubricant market is segmented into:
On the basis of grade, the global aircraft lubricant market is segmented into:
Aircraft Lubricant Market: Region-wise Outlook:
The Asia Pacific is expected to witness substantial growth in the global aircraft lubricant market owing to growing investments in the aircraft industry in China, India and ASEAN countries. With increasing tourism and passenger traffic gaining double-digit growth during the forecast period, the market is expected to touch higher. North America is estimated to dominate the global aircraft lubricants market owing to significant domestic and international aircraft movements in over 2000 airports in the U.S. alone. The U.S. is one of the busiest airports in the world owing to growing tourism, business and domestic travel. Europe is expected to account for over one-fourth of the total aircraft lubricant market due to large aircraft movements in major airports of U.K., Germany, France, Russia and other major countries, which account for over 60% of domestic passengers. Latin America and Middle East & Africa are expected to play a significant role in the growth of aircraft lubricant market during the forecast period.
Aircraft Lubricant Market: Market Participants:
Some of the market participants in the global aircraft lubricant market are:
The Chemours Company
Exxon Mobil Corporation
Eastman Chemical Company
Aviation Chemical Solutions.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
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