REPORT HIGHLIGHT

Aerospace Lubricants Market was valued at USD 780.3 billion by 2018, growing with 3.2% CAGR during the forecast period, 2020-2026

Market Dynamics

The function of an aerospace lubricant is to reduce the friction between aerospace components for preventing wear and tear. The aerospace lubricant market is picking up the pace because of the requirement of improvement in fuel economy and better efficiency. Also due to a decrease in airfares, more and more passengers are availing aircraft facility which indicates a better future of the lubricants market. Also the countries like Russia, China and India are taking more interest in the defense sector for security reasons. This will consequently fuel up the market.

Product Takeaway

Based on product the market can be bifurcated into Gas turbine engines, Piston engine oil, Hydraulic fluid, and others. Among these segments, the gas turbine engine is anticipated to lead the market over the forecast period. And this is because of its efficiency of providing the desired thrust. This engine also prevents the deposition of sludge, corrosion, and rust, thereby increasing fuel efficiency.

The use of piston engine oil results in friction, but this engine oil is gradually gaining popularity because of some innovations which lead to turbocharging, better outputs and efficiency.

End-user Takeaway

Civil aviation, space, and defense are the major end-users of this market. Presently, civil aviation is leading the market. And the reason behind this is the boosting up of air traffic between Indian and China and cost-effective airfares. The demand for investment on a space mission in countries like India, the USA, France, and Germany will propel market growth. Also, countries like Russia and China are taking interest in fighter jets which will further speed-up the market till 2024.

Regional Takeaway

The Asia Pacific is the major contributor to this market and the major countries of this region are China, India, Indonesia, and Thailand. The reason behind this is an increase in investment in a space mission, air traffic, and military. The Middle East and Africa are also giving their contribution towards the rise of this market because of urbanization and an increase in the living standard which leads to airbus usage.

Key-vendor analysis

Leading companies in this market are Exxon Mobil, Aerospace Lubricant Inc., Quaker Chemical Corporation, Royal Dutch Shell PLC, Petrobras, Castrol, Fuchs Group, Chevron, British Petroleum, Fuchs, Aerospace Lubricant, Total Lubricant, etc. Many manufacturers like Fuchs have started supplying aerospace lubricants along with manufacturing. This has resulted in strong customer relationships as it allows them to avoid undesirable troubles which are caused by suppliers.

The market size and forecast for each segment and sub-segments has been considered as below:

• Historical Year – 2014 & 2016
• Base Year – 2017
• Estimated Year – 2018
• Projected Year – 2025

TARGET AUDIENCE

• Traders, Distributors, and Suppliers
• Manufacturers
• Government and Regional Agencies
• Research Organizations
• Consultants
• Distributors

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

KEY PLAYERS

• Exxon Mobil Corporation
• Aerospace Lubricant Inc.
• Quaker Chemical Corporation
• Royal Dutch Shell PLC
• Petrobras
• Castrol
• Fuchs Group
• Chevron
• British Petroleum
• Fuchs
• Aerospace Lubricant
• Total Lubricant

MARKET, BY PRODUCT

• Piston Engine Oil
• Gas Turbine Oil
• Hydraulic Fluid
• Others

MARKET, BY END-USER

• Defense
• Civil
• Space

MARKET, BY REGION

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • United Kingdom
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • South Korea
  • Japan
  • Singapore
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East and Africa
  • Saudi Arabia
  • United Arab Emirates
  • Rest of MEA