Aerospace Lubricant Market size is estimated to cross $900 million by 2024: Global Market Insights Inc

“Major companies operating in the business includes Castrol, Shell, Quaker Chemical Corporation, Fuchs Group, British Petroleum, Petrobras, Chevron Corporation, Exxon Mobil, DuPont, Phillips 66, and Sinopec. Other industry players such as Northrop Grumman and SpaceX provide spaceships and satellites.”
“Global Aerospace Lubricant Market size was approximately 90 kilo tons in 2015 and is projected to surpass 135 kilo tons in 2024, with estimated gains of more than 4% CAGR. in terms of revenue, the industry is estimated to cross USD 900 million by 2024.”

Aerospace lubricant improves efficiency of the engine by reducing frictions between two surfaces, resulting in more kilometres in same amount of fuel. Global air traffic grew by 6% owning to increase in the frequency of flights. Rising consumer income resulting in lavish lifestyles along with reduced air fares is anticipated to be the key factor propelling industry growth.

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Increasing investments in defence by countries including Russia, China and India, will consequently drive industry growth. For instance, China invested over USD 140 billion in 2015 to design and develop aircrafts and missiles with extensive capability. Russia is investing on modernising its armour and fighting vehicles which may fuel aerospace lubricant market size over the forecast timeframe.

Gas turbine oil, piston oil, hydraulic fluid and Greece are the major products in the global aerospace market share. Gas turbine oil was significant industry share contributor in 2015. It provides efficient cooling and prevents corrosion while the engine is operated owing to increase engine efficiency. It also supports aircraft specifications such as water contamination resistance, high oxidative stability, and reduction of downtime. Piston aerospace lubricants was another substantial industry share contributor in 2015. It reduces over 50% of friction and improvement, which directly impacts on the fuel efficiency. It also acts as a viscosity improver, coolant and sealant in engine assemblies. In addition, hydraulic fluid offers properties such as high anti wear, long life, thermal stability, constant viscosity during escalated operating pressure and temperature. Greece is anticipated to experience average industry gains owing to its ability to offer water wash resistance. 

Civil aviation, defence and space are the end users of the aerospace lubricants market share. Civil aviation dominated the end user base and accounted roughly more than 60% of the global volume in 2015. Increasing air traffic China & India, along with lower fares is analysed to be the key factor propelling aerospace lubricants market size for civil aviation. Rising investments on space mission by the U.S., India, Germany and France will favour industry growth. Furthermore, increasing military expenditure in fighter jets by Russia and China will further complement industry growth by 2024.

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Industry players are involved in product development with value added characteristics. For instance, DuPont’s Krytox perfluoropolyether (PFPE), is desirable in the industry as it remains unaffected with temperature ranging from -710 F to 7500 F. It also helps in shock & vibration absorption, resistance to vapor loss in vacuum.

This latest Aerospace Lubricant Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across number of regional markets. The report also analyzes the Aerospace Lubricant industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.

Browse key industry insights spread across market data tables, figures & charts from the report, “Aerospace Lubricant Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024.” in detail along with the table of contents.

https://www.gminsights.com/industry-analysis/aerospace-lubricant-market

Key Insights in this Report

  • Global Aerospace Lubricant Market size & forecast by product & application
  • Growth drivers, pitfalls & industry challenges
  • Key Aerospace Lubricant Market growth opportunities & emerging business models
  • Competitive benchmarking with market share analysis and company profiles

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