Aerospace Lubricant Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMAD2854 | Last Updated On: Jun 23 2022 | Available Formats

> Global Aerospace Lubricant Market Expected to reach a high CAGR during the forecast period 2022-2029: DataM Intelligence

Global Aerospace Lubricant Market is segmented By Type (Hydraulic Fluid, Engine Oil (Turbine Engine Oil, Piston Engine Oil), Grease, Gear Oil, Bearing Oil, Others), By Product (Group I, Group II, Group III, Group IV), By Technology (Naphthenic, Paraffinic, Synthetic, Bio-based), By Application (Civil, Defense/Military, Space), By End-User (OEM, Maintenance and Repair Organization (MRO)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global Aerospace Lubricant Market is expected to grow at a high CAGR of 6% during the forecasting period (2022-2029).

Aerospace lubricant is an odourless, clean and clear oil used in the maintenance and repairing of aircraft structures, engines and systems. The aerospace lubricant help to reduce fuel consumption and bring flexibility in large scale operations of the aerospace industry. Aerospace lubricants are evaluated based on machine operating contexts, viscosity grade, volatility, sump cleanliness control and rate of long-term use.

Apart from this, companies are determining compositional differences among available lubricants as per the parts and aerospace systems requirements. Aerospace lubricants are selected based on several parameters such as fluid-film lubrication, operating environment, compatibility, boundary lubrication performance, fire resistance, stability, toxicity & biodegradability and susceptibility to additives.

Aerospace lubricants are substantially used in a variety of aerospace applications including valves, regulators and seals, liquid-fueled rocket engines, ground support systems, engine oil &gearbox, couplings, engine, oxygen system, Bearings, ballscrews, leadscrews, aerospace instruments, gimbals and gyroscopes.

 

Market Dynamics

The global aerospace lubricants are driven by rising aerospace and defence investment by several governments and private companies and agencies such as space Japanese Aeronautics exploration agency, NASA, ISRO, Korea aerospace research institute (KARI), Iranian space agency. Further increasing number of air passengers coupled with adoption of the modern technology in the aerospace industry

Rising aerospace and defence investment by government and private companies and agencies

The market is driven by aerospace and defence investment by government and private companies and agencies such as space Japanese Aeronautics exploration agency, NASA, ISRO, Korea aerospace research institute (KARI), etc. According to the United Nations Conference on Trade and Development (UNCTAD)in South Asia, Foreign Direct Investment (FDI)by the leading aerospace and aerospace parts manufacturers such as Boeing GE, Siemens, HTC, Toshiba, reached around US$ 49 billion on a global level. Further, in 2019 NASA launched the initiative program named Artemis program for Space systems development increased by nearly 9% in sales.

The increasing number of air passengers coupled with adoption of the modern technology in the aerospace industry

Rising demand for aerospace lubricants with the surge in the sale and production of commercial aircraft as well as rising number of air travellers around the globe. For instance, as per the Congressional Research Service Government Organization report, the aerospace industry’s needs around 29,000 new planes in the airlines valued at $3.2 trillion between 2009 and 2028. It may create huge demand for the aerospace lubricant market in the aerospace industry.

Contamination of the lubricants due to high part failures, operational conditions such as dust and high operating temperatures

Contamination of the lubricants due to part failures, operational conditions such as dust and high operating temperatures may hamper the growth of the aerospace lubricant market. The aerospace parts such as engine, turbines, blades, couplings, engine, oxygen system, bearing, ballscrews, lead crews, aerospace instruments, gimbals and gyroscopes are subjected to wear and tear due to continuous operations. Hence the aerospace lubricant gets contaminated which affect the efficiency of the aircraft.

Growing demand for low-density lubricants due to surge in the development with the help of advanced technology

Increasing the launch of the advanced low-density aerospace lubricant for the fulfilment of the growing demand by the aerospace industry may create a huge opportunity for the growth of the aerospace lubricant market. For instance, on 20th Nov 2019, ExxonMobil and GE launched Mobil SHCTM 918 EE turbine advanced co-branded turbine oil which is capable of increasing bearing efficiency by 15%. The lubricant is designed for use in multi-shaft 7HA, 9HA, 6FA.01 and 7FA GE turbines, with approval for use by GE. The Company provided the first-ever Energy Efficiency (EE) turbine oil and reduced energy consumption.COVID-19 Impact Analysis

The global aerospace lubricant market has shown immense declination due to the COVID-19 outbreak as several countries have banned air travel for the passengers which put aviation business idled. As the air travel was stopped fleet maintenance, readiness and overhauling were also stopped which minimized the demand for the aerospace lubricant oil.

The aerospace’s industry’s OEM and MRO sectors production units have been negatively affected due to an imbalance in supply and demand due to the available inventory stocks. In addition, several aircraft delivery orders have been delayed in the first and second quarter of 2020 due to lockdowns in various countries, which has declined in revenue of manufacturers.

Several manufacturers have to cope with challenging requirements such as following social distance, cleaning of airlines and providing necessary facilities to travellers concerning health safety. Further as per the Aerospace Industries Association (AIA), globally, passenger travel has shown an immense decline due to the pandemic which is expected to result in a loss of more than US$ 400 billion in revenue for airlines. Also, civil aviation manufacturers are affected, with international aircraft production expected to drop by nearly 50% in 2020. Further demand will increase as soon as the pandemic will over.

Segment Analysis

The global aerospace lubricant market is segmented based on types, products, technology, application, end-users and region.

The rising launching of the new innovative material based engine oil by the leading players have propelled the demand for the aerospace market

In terms of type, the global aerospace lubricant market is bifurcated into hydraulic fluid, engine oil, grease, gear oil, bearing oil and others. Among this engine oil segment has the highest share in 2019, owing to the increasing launching of the engine oils by the leading players owing to a surge in demand for improving the engine efficiency and for saving of the fuel consumption by the aircraft.

For instance, on 28th October 2020, Goodyear planned to launch a new line of engine oils November 2020 by collaborating with Assurance INT. The product line consists of a full range of lubricants including greases, brake fluid, transmission oil, hydraulic oils, tractor oil, diesel exhaust fluid, gear oil etc. Further engine oil is segmented into Turbine Engine oil and Piston engine oil. The turbine oil is exposed to much wider temperature ranges, from -73°C to 200°C hence it possesses an excellent natural resistance to oxidation property.

 

Rising demand by the turbine type aircraft engine drive the growth of group II aerospace lubricant

Depending upon the product the global aerospace lubricant market is divided into group I. Group II, Group III, Group IV. Among this Group II segment has the highest market share in 2019, this is primarily due to it being used in aircraft-type gas turbine lubricant for high performance which was formulated with a combination of a highly stable synthetic base fluid.

The increasing launch of advanced synthetic oil by the leading firms and organizations in the spacecraft industry has propelled the demand for this segmental growth

Depending upon the technology, the global aerospace lubricant market is divided into napthenic, paraffinic, synthetic and bio-based. Among these, the synthetic oil segment has the highest market share in 2020, which is primarily due to the launch of the new synthetic oil for the aircraft for efficient running and for reducing fuel consumption. For instance, on 23rd October 2020, Bharat Petroleum Corporation Ltd (BPCL) launched two high-end synthetic lubricant lubes.

 

The rising number of international and domestic air travellers due to globalization around the globe have propelled the civil segmental growth

Based on application, the global aerospace lubricant market is divided into civil, defence/military and space. Among this civil segment has the highest market share owing to the rising number of international passengers around the globe.

Similarly, defence/military and space segments are also growing at the highest pace owing to a surge in the investment in spacecraft by government organizations from the leading aerospace manufacturers around the globe. For instance, on 9th Nov 2019, NASA has ordered six Orion spacecraft from Lockheed Martin for around US$4.6 billion. Further, Boeing and SpaceX, are developing a capsule to fly NASA astronauts to the space station. It has created a huge demand for aerospace oil in this sector.

 

Increasing launching of the lubricants for the aerospace manufacturing industry by the leading players have propelled the OEM segmental growth

Based on end-user, the global aerospace lubricant market is divided into OEM and Maintenance and Repair Organization (MRO). Among these, the OEM segment has the highest share in 2019, this is primarily due to the rising launching of the new oils by the leading players for aircraft manufacturing operations such as machining hard metals, cutting etc.

For instance, on 1st July 2020, Master Fluid Solutions one of the global leaders in metalworking fluids launched a new lubricantHyperSol 888NXT tailored to the unique and complex needs of the aerospace industry. It was created for machining hard metals like titanium, stainless steel and nickel-based alloys used in aerospace applications.

 

Geographical Analysis

North America region holds the largest market share in the global aerospace lubricant market

North America region is dominating the global aerospace lubricant market accounted for the largest market share in 2019, due to the presence of leading aircraft manufacturing industries with growing aerospace and defence spending by the United States government. For instance, as a SELECT government Organization in 2018, United States aerospace manufacturers contributed around US$151 billion in export sales with foreign direct investment (FDI) into the United States aerospace industry totalled nearly US$ 22 billion.

The region is comprised of several leading aircraft manufacturers such as Northrop Grumman, Raytheon Technologies, Boeing, Airbus etc. Similarly, the Asia-Pacific region is also growing at a rapid pace owing the increasing demand by the aviation industry with the surge in air travel from this region.

 

Competitive Landscape

The aerospace lubricant market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include British Petroleum, Exxon Mobil, Shell, Sinopec, Total Lubricant, Fuchs Group, Phillips 66, Castrol, Aerospace Lubricant, Inc, Petrobras, Quaker Chemical Corporation Hernon Manufacturing Inc. and among others.

The major players are adopting several growth strategies such as product launches, acquisitions and collaborations, which are contributing to the growth of the aerospace lubricant market globally. For instance, on6th June 2020, Aerospace Lubricants, Inc. has recently announced to expand the production capacity of specialized grease needed in military and commercial aviation, the plant will add 10 million pounds of grease production capacity at its Columbus, Ohio, United States location.

Total S.A

Overview: Total S.A, founded in 1924 with a head office based in Nanterre Cedex, Paris,
France. The total international group is the world’s fifth-ranked publicly-traded international oil company with more than 97, 000 employees in more than 130 countries.

Total Lubricants offers a wide range of products in diversified market segments: automotive, industrial market, marine, aeronautical etc.

Product Portfolio: The company has a diverse product portfolio of Aerospace lubricants including Total Lubricants offers a wide range of products: engine oil, gear oil, coolant liquids, metalworking, white oils, hydraulic & brake fluids.

  • Aero 100, Aero 120and Aero 80: It is pure mineral oil for the lubrication of piston engines operating under average conditions. Used for lubrication of vintage aeroplanes
    • Features: Pure mineral oils, do not contain additives, except for a small quantity of pour-point depressant and an anti-oxidant, excellent natural resistance to oxidation, very low pour point and high viscosity index

Recent Developments:

  • On 7th July 2020, Total Lubricant and Indian Oil Form Joint Company In India for offering high-quality bitumen derivatives and speciality products for the growing road-building industry in India

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