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Global Aerospace Lubricants Market - Outlook and Forecast 2022-2027
The aerospace lubricants market is projected to experience a compound annual growth rate (CAGR) of 6% from 2022 to 2027, with an estimated value of over $3 billion in 2027 compared to $2.15 billion in 2021. Aerospace lubricants are utilized to reduce friction and heat in the moving components of an aircraft. They also serve secondary purposes such as cleaning and cooling engine parts and hydraulic systems, as well as preventing rust and corrosion accumulation on turbines, pistons, and landing gears.
The market is evolving due to customer demand for high-quality and high-performance oils that enhance aircraft performance and ensure safer air travel. Continuous innovation and technological advancements cater to diverse aviation needs. These include extending the lifespan of turbines and engines, reducing carbon emissions, improving fuel efficiency, providing low-viscosity aviation lubricants, and complying with changing emission standards set by various governmental and non-governmental bodies. The growing tourism industry and expanding global trade in emerging economies have further stimulated market growth.
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USD 2.2 billion in 2020
Applications, End-user, Products, and Geography
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The aviation and aerospace industry is primarily driven by air travel, which has experienced significant growth in recent years. The demand for air transportation has risen due to its ability to offer fast mobility, particularly for perishable goods. Industrialization has increased people’s purchasing power, while automation has facilitated quick mobility of people and commodities. Air transport plays a vital role in global travel, positively impacting economic and social development. It provides a vast network essential for trade, business, and tourism industries, driving economic growth. In 2019, according to the International Civil Aviation Organization (ICAO), 4.5 billion people traveled by air, and over 57.6 million tons of freight were transported by air. Additionally, the International Air Transport Association (IATA) reported that airlines worldwide transport more than 52 million tons of goods each year, accounting for over 35% of total global goods transported and valued at $6.8 trillion.
Government entities, such as the Environment Protection Agency (EPA) and the International Civil Aviation Organisation (ICAO), have established emission regulations for aircraft engines and turbines. These regulations aim to reduce fuel consumption and improve aircraft performance, resulting in increased demand for eco-friendly aerospace lubricants. Furthermore, substantial investment in research and development within the aerospace sector focuses on developing aircraft that operate efficiently on alternative energy sources like hydrogen and electricity. The defense sectors of various countries have also adopted a sustainable approach to the aviation industry, driving demand for aircraft with minimal environmental impact. Additionally, advancements in engine and turbine design to reduce greenhouse gas emissions and mitigate environmental consequences will further drive market demand.
The contamination of aerospace lubricants can adversely affect aircraft operations. Contaminated oils can alter the physical and chemical properties of lubricants, thereby impacting aircraft performance. Furthermore, contaminated lubricants can lead to accelerated wear and tear of mechanical parts, potentially causing accidents.
Aerospace lubricants consist of base oils and specialized chemical additives formulated to protect the lubricating properties of the oil and aircraft components. Additives are customized specialty chemicals designed to enhance performance. Common additives used in aviation lubricants include dispersants, antioxidants, detergents, anti-corrosion agents, anti-foaming agents, and viscosity retainers. Under extreme temperature conditions, additives may degrade and initiate chemical reactions that produce contaminants, which can compromise aircraft performance.
The market is segmented based on various factors, including applications, end-user, products, geography.
Segmentation by End-User
Segmentation by Products
Segmentation by Application
Segmentation by Geography
North America – US, Canada
Europe – Germany, France, UK, Italy, Russia
APAC – China, Japan, India, South Korea, Indonesia, Rest of APAC
Latin America – Brazil, Mexico, Rest of Latin America
Middle East & Africa – South Africa, UAE
Aerospace lubricants play a crucial role in ensuring the safe and optimal functioning of aircraft, contributing to passenger safety and overall performance. These lubricants are essential for protecting moving parts within the turbine, piston engine, and hydraulic systems from wear and tear. They are typically composed of base oils and various additives, offering a wide range of properties.
Within the aerospace lubricants market, the aftermarket segment holds significant importance. Due to the high costs associated with aircraft purchases, the demand for lubricants in this segment is relatively low. Consequently, the maintenance of aircraft becomes paramount for both civil and defense aviation. Aircraft operating under extreme conditions, such as high temperatures and pressures, require frequent lubricant changes to uphold their performance.
Engine oil, available in piston engine oil and turbine engine oil variants, is a commonly used lubricant in the market. These oils are specifically formulated to meet the requirements of different types of aircraft engines. Hydraulic fluids, on the other hand, are vital for enabling high-force mechanical functions, reducing the efforts required by pilots. These fluids facilitate the operation of various aircraft components, including nose wheel steering, spoilers, landing gear, flaps, and more.
The global aerospace lubricants market is characterized by its diversity, encompassing established markets as well as promising growth markets. North America currently stands as the leading market for aerospace lubricants, benefiting from its well-developed aviation infrastructure. It is projected to maintain its dominance throughout the forecast period. However, other countries with ample opportunities for market expansion pose challenges to North America’s position of influence.
The leading players in the aerospace lubricants market have implemented diverse strategies to achieve growth. Companies within the aerospace lubricant industry engage in strategic competition. The increasing importance of sustainable practices and initiatives presents a challenge for all global companies. The demand for innovative and sustainable aerospace lubricant products is driven by investments in research and development, technological advancements, as well as environmental and economic considerations.
Key companies profiled in this report include ExxonMobil, Shell, Total Energies, Nyco, Phillips66, Aerospace, AVI Oil India, Castrol, Chemours, Eastman Chemicals, Jet Lube, NYE Lubricants, Perstorp Group, PetrelPus Inc, Radco Industries, Rocol, Sinopec, The Warefield.
Key Questions Answered
What is the total market value of the aviation lubricants market?
The global aviation lubricants market was valued at USD 2.15 billion in 2021 and is expected to reach USD 3.05 billion by 2027, growing at a compound annual growth rate (CAGR) of 6.01%.
What are the key driving factors for the growth of the aerospace lubricants market?
The growth of the aviation lubricants market is driven by factors such as the growing demand for air travel and the increasing need for eco-friendly lubricants due to stringent environmental regulations.
What are the key sustainability strategies adopted by leading players operating in the aviation lubricants market?
To increase their revenues in the aviation lubricants market, major players have adopted strategies such as expansion, acquisitions, new product development, joint ventures, and others.
Who are the leading vendors in the global aviation lubricants market?
Some of the major players in the market include ExxonMobil (US), Shell (UK), Total Energies (UK), Nyco (France), and Phillips66 (US).