PUNE, India, January 16, 2018 /PRNewswire/ --
According to the new market research report "Aviation Lubricant Market by Type (Hydraulic Fluid, Engine Oil, Grease, Special Lubricant and Additives), End User (OEM, MRO), Application (Hydraulic Systems, Engine, Landing Gear, Airframe), Technology, Aviation Type, Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to grow from an estimated USD 2.03 Billion in 2017 to USD 2.68 Billion by 2022, at a CAGR of 5.65% during the forecast period.
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Browse 89 market data Tables and 43 Figures spread through 152 Pages and in-depth TOC on "Aviation Lubricant Market"
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The increase in aircraft orders, passenger traffic, and military spending are some of the key factors driving the aviation lubricant market.
Based on type, engine oil is expected to be the fastest-growing segment of the aviation lubricantmarket during the forecast period.
Engine oil is projected to be the fastest-growing type segment during the forecast period. The growth of this segment can be attributed to the development of advanced aircraft engines and growth in the commercial aircraft fleets.
Based on technology, the synthetic segment of the aviation lubricant market is projected to grow at a higher CAGR from 2017 to 2022.
Based on technology, the synthetic segment is projected to grow at a higher CAGR during the forecast period. This growth can be attributed to the increasing demand for advanced lubricants to enhance the performance of systems in an aircraft, such as hydraulic systems and engine.
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Based on aviation type, the military aviation segment of the aviation lubricant market is projected to grow at the highest CAGR from 2017 to 2022.
Based on aviation type, the military aviation segment is projected to grow at the highest CAGR during the forecast period. The increase in orders for military aircraft due to the increased military spending by major global economies is one of the key factors driving this segment of the aviation lubricant market.
Based on end user, the MRO segment of the aviation lubricant market is projected to grow at a higher CAGR from 2017 to 2022.
Based on end user, the MRO segment of the aviation lubricant market is projected to grow at a higher CAGR during the forecast period. This growth can be attributed to the increase in the size of aircraft fleets of emerging economies.
Based on application, the engine segment of the aviation lubricant market is projected to grow at the highest CAGR from 2017 to 2022.
Based on application, the engine segment of the aviation lubricant market is projected to grow at the highest CAGR during the forecast period. The growth of the engine segment can be attributed to the increase in the use of specialized and advanced lubricants in this segment.
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Asia Pacific is expected to be the fastest-growing aviation lubricant market during the forecast period.
Asia Pacific is expected to be the fastest-growing market during the forecast period. The growth is largely due to an increase in the fleet size of the countries in the region. The airlines operating in this region are focused on enhancing passenger experience and increasing the aftermarket sales.
Major players operating in the aviation lubricant market include Zodiac Aerospace (France), Crane Aerospace (US), and Astronics Corporation (US). These key players offer various aviation lubricant types, including electro-mechanical, hydraulic, and pneumatic. The companies are focused on developing advanced systems for premium seating segments. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, and other regions.
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