Northbrook, IL 60062 -- (SBWIRE) -- 06/03/2022 -- This report provides a detailed analysis of the aviation lubricants market from 2022 to 2027. It discusses the industry and technological trends prevailing in the market and examines factors that are expected to drive or challenge the growth of the aviation lubricants market in the near future. The aviation lubricants market is projected to grow from USD 804 million in 2022 and is projected to reach USD 1,082 million by 2027, at a CAGR of 6.1% during the forecast period. The increasing adoption of aviation lubricants to ensure the airworthiness of an expanding fleet is projected to drive the growth of the aviation lubricants market.
The aviation lubricants market has been segmented based on type, technology, end user, application, platform, and region. Based on platform, the aviation lubricants market has been segmented into commercial aviation, military aviation, and business & general aviation. The commercial aviation segment is expected to lead the market during the forecast period, due to the high number of commercial aircraft deliveries scheduled to be delivered within the timeframe. Furthermore, the increasing demand from the commercial aviation MRO sector is also envisioned to drive the demand for aviation lubricants during the forecast period.
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Based on application, the aviation lubricants market has been segmented into engine, landing gear, airframe, hydraulic systems, and others. The others segment comprises cockpit systems and cabin interiors. The demand for new aircraft and the engine MRO activities that are being conducted to ensure the airworthiness of the fleet are two major factors driving the engine segment of the aviation lubricants market during the forecast period.
Based on end user, the aviation lubricants market is segmented into OEM (Original Equipment Manufacturer) and aftermarket. The aftermarket segment is anticipated to dominate market share as the number of aircraft undergoing maintenance in the global fleet is much higher than the ones that are scheduled to be delivered each year. Furthermore, lubricants need to be checked and replaced periodically to ensure optimal performance, which in turn enhances the scope of sales of aviation lubricants to the aftermarket sector.
Based on technology, the aviation lubricants market is segmented into synthetic and mineral-based lubricants. Synthetic lubricants are anticipated to dominate market share as they have better operational capabilities than mineral-based lubricants, and hence have a larger scope of application in all aviation platforms-commercial, military, and business & general aviation.
Based on type, the aviation lubricants market is segmented into engine oil, hydraulic fluid, special lubricants & additives and grease. Since constant replenishment of engine oils is required to ensure engine efficiency and health, the demand for engine oil is much higher than other types of lubricants.
The aviation lubricants market in the North American region is expected to lead the market with highest market share. The growth of the market here can be attributed to the large order book 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.