The Aviation Lubricants Market report provides an analysis of the market from 2020 to 2025. It discusses the industry and technology trends that are currently prevailing in the aviation lubricants market, along with the drivers, restraints, challenges, and opportunities. The global aviation lubricants market size is projected to grow from an estimated USD 2.0 billion in 2020 to USD 2.9 billion by 2025, at a CAGR of 7.2% during the forecast period.
This growth can be attributed to the increasing aircraft orders due to the rise in passenger traffic across the globe. This is expected to lead to rapid growth in the procurement of aircraft, subsequently driving the demand for aviation lubricants. Aviation lubricants have undergone tremendous technological advancements in the past decade. Manufacturers of aviation lubricants aim to develop products that are reliable, promote energy efficiency, and are able to perform under extreme conditions. In recent times, specific ester base stocks are replacing mineral oil-based aviation lubricants.
Based on type, the engine oil segment of the aviation lubricant market is accounted for the largest share during the forecast period. Engine oils in jet engines are replenished after each flight or as and when required. It is further sub-segmented into turbine engine oil and piston engine oil. The growth of engine oil can be attributed to its high consumption during flight hours and the rise in commercial and military aircraft fleets, globally.
Based on technology, the synthetic segment of the aviation lubricants market is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing demand for advanced lubricants with greater thermal stability. Synthetic engine oils are used widely in turbine engines as their thermal stability allows them to offer improved performance at various temperatures.
Based on the platform, the commercial aviation segment of the aviation lubricants market is expected to grow at the highest CAGR during the forecast period. This segment comprises narrow-body aircraft, wide-body aircraft, very large aircraft, and regional transport aircraft. The growth of this segment is driven by the increasing number of aircraft orders for commercial aviation and the rise in air passenger traffic across the globe.
Based on end-users, the aftermarket segment of the aviation lubricant is estimated to lead the aviation lubricants market during the forecast period. The growth of this segment can be attributed to the increase in the aircraft fleet of emerging economies in the commercial and military aviation sectors. The increasing air traffic, especially in emerging economies such as China, India, and countries of Latin America, is driving growth in the aftermarket segment.
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