CHICAGO, May 25, 2022 /PRNewswire/ -- According to a research report "Aviation Lubricants Market by Type (Engine Oil, Hydraulic Fluid, Special Lubricants & Additives, Grease), Technology, End User, Application, Platform (Commercial Aviation, Military Aviation, Business & General Aviation) & Region - Global Forecast to 2027", published by MarketsandMarkets, the Aviation Lubricants Market is estimated at USD 804 million in 2022 and is projected to reach USD 1,082 million by 2027, at a CAGR of 6.1% from 2022 to 2027.
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Aviation lubricants are used in the aviation industry to help reduce friction between moving parts or surfaces to enhance the efficiency of machines. These materials help ensure the reliability and durability of the entire aircraft. They are used in various applications, ranging from airframes, engines, landing gear, hydraulics systems, interiors, and cockpit systems. The market is driven by the demand generated by aircraft OEMs for delivering new aircraft, and aftermarket players that provide MRO services to the global aviation fleet.
The commercial aviation segment of the aviation lubricants market is projected to dominate market share between 2022 and 2027
Based on platform, the commercial aviation segment is anticipated to occupy a dominant share of the market by the end of 2027 due to factors such as increasing air passenger traffic driving the demand for new generation aircraft and encouraging the OEM segment and the increasing fleet that is required to undergo scheduled maintenance driving MRO demand for lubricants.
The engine oil segment of the aviation lubricants market is estimated to dominate market share between 2022 and 2027
Based on type, the engine oil segment is projected to dominate the market share as they find repetitive usage due to replacement and replenishment of lubricants in the engine after a certain number of flight hours or as part of scheduled maintenance to ensure optimal health and performance of the aircraft engine.
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North America is projected to lead the market for aviation lubricants during the forecast period.
The growth of the North American market can be attributed to the large orderbook and operational fleet of aircraft that requires large volumes of aviation lubricants to remain airworthy. Furthermore, the presence of aviation incumbents, such as the Boeing Company, and several leading MRO providers in the region also drive the demand for aviation lubricants. Exxon Mobil Corporation, Eastman Chemical Company, The Chemours Company, and Phillips 66 Company are some of the noteworthy market players based in the region.
Key players operating in the aviation lubricants market include Shell plc (UK), Exxon Mobil Corporation (US), TotalEnergies Company (France), BP p.l.c. (UK), and PJSC LUKOIL (Russia).
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