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Aircraft Lubricant Market - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

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The research report on Aircraft Lubricant Market is segmented by Product Type, by Grade, by End User and by Region - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026
Aircraft Lubricant Market - Size, Share, Outlook, and
Opportunity Analysis, 2018 – 2026
Aircraft Lubricant Market: Introduction
Lubricants are organic compounds that are used to reduce friction and withstand extreme
temperature between the surfaces. These lubricants are available in the form of greases and
oils for applications in gas turbine, piston, hydraulic, wheel bearing, and others. Oil creates a
seal between cylinder walls and piston rings, which helps in reducing friction and facilitates
better compression. Moreover, it also keeps contaminants away and improves fuel efficiency.
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Aircraft Lubricant Market: Dynamics
Rising number of passengers travelling via aircrafts across the globe is expected to increase
demand for aircrafts, which in turn, would propel demand for aircraft lubricants in the global
market. According to the World Bank, in 2017, 3.9 billion passengers travelled through
aircrafts, which increased from 3.4 billion passengers in 2015, globally. The data includes
both domestic and international air passengers.
Apart from its basic functions such as reducing friction, sealing, cooling, cleaning, and
facilitating protection for moving parts, other vital functions such as constant viscosity and
thermal stability during the time of high temperature and pressure is expected to increase
demand for aircraft lubricants in the global market in the near future.
Aircraft Lubricant Market: Regional Outlook
North America is expected to account for major share in the aircraft lubricant market, owing
to rising passenger traffic in the U.S., which may propel demand for aircrafts, thereby
increasing demand for aircraft lubricant in the global market. According to the U.S.
Department of Transportation’s Bureau of Transportation Statistics (BTS), in 2017, the U.S.
airlines carried 965 million passengers, which increased from 897.6 million passengers in
2016.
Asia Pacific is expected to witness significant growth during the forecast period. This is
owing to increasing investments in the aircraft industry and growing tourism industry,
specifically in emerging economies such as China and India. According to the UNWTO
Barometer and Bureau of Immigration, in 2016, 408.9 million international tourists arrived in
India from countries including France, the U.S., Spain, China, Italy, the U.K., Germany,
Mexico, Thailand, and Turkey. The growing tourism industry may propel demand for
aircrafts, thereby increasing the demand for aircraft lubricant in the near future.
Furthermore, in 2017, the Civil Aviation Administration of China (CAAC) announced 13th
five year plans, which objectifies to develop over 5000 general aviation aircrafts and 500
general aviation airports. The CAAC will encourage private investors to invest in this project.
This project is expected to fuel demand for aircraft lubricant in the market over the forecast
period.
Aircraft Lubricant Market: Competitive Landscape
Key players operating in the market include Shell Inc., Aviation Chemical Solutions,
Eastman Chemical Company, Exxon Mobil Corporation, Avioparts, Kluber, Morris
Lubricants, The Chemours Company, and Molykote.
Major players in the market are adopting strategies such as product launches, business
expansions, partnerships & collaborations, mergers & acquisitions, and others to strengthen
their foothold in the global market. For instance, in 2017, Shell Global announced the launch
of piston engine oil in South Africa. The oil is specifically made for light sport aircraft and
very light/ultra-light aircraft four stroke engines and provides protection and lubricity.
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