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Aviation Lubricants Market

Aviation Lubricants for Large Commercial Jets to Exhibit a CAGR of 6% through 2031: Fact.MR Study

Published : 28 Oct 2021 Industry: Chemical & Materials

A recently published report by Fact.MR reveals that the global aviation lubricants market is projected to grow at a CAGR of 5% during the forecast period (2021-2031), expected to reach US$ 1.4 Bn by 2031. By 2021-end, a revenue share worth US$ 859.8 Mn has been projected for the market.

Historical analysis posits that the industry experienced steady growth, clocking a CAGR worth 4% from 2016-2020. Significant disruptions encountered in global air passenger and freight traffic during the height of the COVID-19 pandemic led to a major contraction in demand, given the reduced need for maintenance cycles. Prospects have exhibited a gradual resurgence since Q4-2020, with governments lifting restrictions on air travel.

With normalcy gradually returning to the global economy, key countries across Asia and North America are investing intensively in modernizing existing aviation infrastructure, as well as sanctioning new airports and procuring new aircraft fleet. For instance, as per the 14th Five Year Plan, China intends to inaugurate 30 new civil airports, augmenting traffic handling capacity by 43%. All these developments will provide tailwinds to aviation lubricants market growth.

Key Takeaways of Aviation Lubricants Market

  • Synthetic & semi-synthetic lubricants to yield US$ 900 Mn in revenue by 2031
  • Aviation lubricants for large commercial jets to register fastest growth, at a CAGR of 6%
  • Mineral oil to register a CAGR of 5% across the 2021-2031 assessment period
  • U.S & China to collectively experience a CAGR of 10% across the forecast period
  • Global market for aviation lubricants to surge 1.6x from 2021 to 2031

 “Increased frequency of air passenger & freight traffic is leading to increase in air travel operations, prompting aviation companies to constantly maintain existing fleet and procure new planes, prompting them to constantly lubricate parts to prevent any degradation, impelling demand,” says a Fact.MR analyst.

Market Competition

Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. Partner training and development programs are being undertaken by multinationals to ensure the quality and consistency of services.

  • In September 2021, Royal Dutch Shell announced its plans to start producing low-carbon jet fuel at scale by 2025, in an attempt to encourage the world’s airlines to reduce greenhouse gas emissions. The company said that it is aiming to produce 2 million tons of sustainable aviation fuel (SAF) by 2025, a ten-fold increase from today’s total global output.
  • In July 2021, ExxonMobil and Avelo Airlines announced that ExxonMobil will be the sole aviation lubricants supplier for Avelo’s growing fleet. Avelo, the first new mainline U.S. carrier to launch in nearly 15 years, selected ExxonMobil based on trust in the company’s products and legacy in the aviation industry.

More Valuable Insights

In its latest report, Fact.MR offers an unbiased analysis of the aviation lubricants market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.

The study divulges essential insights on the market on the basis of product (engine oils, hydraulic fluids, greases and others), aircraft (business jets & turboprop planes, large commercial jets, piston-engine aircraft, defence aircraft, helicopters and others), type (mineral oils, semi-synthetic & synthetic oils, bio-based oils and others), and sales channel (OMEs and MROs), across seven major regions.

About the Chemical and Material Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemical and material team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the chemical industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Yash Pathak

Fact.MR

Sr. Consultant – Chemicals and Materials

E-mail: Yash@factmr.com

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Aviation Lubricants Market

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Aviation Lubricants Market Report By Product (Engine Oils, Hydraulic Fluids, Greases), By Aircraft (For Business Jets, Large Commercial Jets, Piston Engine Aircraft, Helicopters), By Type (Mineral Oil, Semi-synthetic & Synthetic, Bio-based Oil), By Sales Channel (OEMs, MROs) - Regional Forecast to 2031