Dublin, Jan. 03, 2025 (GLOBE NEWSWIRE) — The “Aviation Lubricants Market Opportunities and Strategies to 2033” report has been added to ResearchAndMarkets.com’s offering.
The global aviation lubricants market reached a value of nearly $1.75 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.22% since 2018. The market is expected to grow from $1.75 billion in 2023 to $2.52 billion in 2028 at a rate of 7.51%. The market is then expected to grow at a CAGR of 7.99% from 2028 and reach $3.7 billion in 2033.
Growth in the historic period resulted from the increased air passenger traffic, favorable government support, increasing commercial aircraft orders and expansion of the oil and gas industry. Factors that negatively affected growth in the historic period include contamination issues and high R&D costs.
Going forward, the growing travel and tourism industries, rising urbanization, increasing globalization and trade and increasing industrialization will drive the market. Factors that could hinder the growth of the aviation lubricants market in the future include aviation fuel cost uncertainty.
The aviation lubricants market is segmented by type into engine oil, grease, special lubricants and additives and hydraulic fluid. The engine oil market was the largest segment of the aviation lubricants market segmented by type, accounting for 46.49% or $816.98 million of the total in 2023. Going forward, the special lubricants segment is expected to be the fastest growing segment in the aviation lubricants market segmented by type, at a CAGR of 10.41% during 2023-2028.
The aviation lubricants market is segmented by aircraft into civilian aircraft, defense aircraft and helicopters. The civilian aircraft market was the largest segment of the aviation lubricants market segmented by aircraft, accounting for 41.82% or $734.94 million of the total in 2023. Going forward, the civilian aircraft segment is expected to be the fastest growing segment in the aviation lubricants market segmented by aircraft, at a CAGR of 7.92% during 2023-2028.
The aviation lubricants market is segmented by technology into synthetic and mineral-based. The synthetic market was the largest segment of the aviation lubricants market segmented by technology, accounting for 75.15% or $1.32 billion of the total in 2023. Going forward, the synthetic segment is expected to be the fastest growing segment in the aviation lubricants market segmented by technology, at a CAGR of 8.02% during 2023-2028.
The aviation lubricants market is segmented by application into hydraulic systems, engine, landing gear, airframe and other applications. The engine market was the largest segment of the aviation lubricants market segmented by application, accounting for 52.22% or $917.58 million of the total in 2023. Going forward, the hydraulic systems segment is expected to be the fastest growing segment in the aviation lubricants market segmented by application, at a CAGR of 7.80% during 2023-2028.
North America was the largest region in the aviation lubricants market, accounting for 40.01% or $703.15 million of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the aviation lubricants market will be Asia-Pacific and Africa, where growth will be at CAGRs of 10.00% and 9.41% respectively. These will be followed by the Middle East and South America, where the markets are expected to grow at CAGRs of 8.82% and 8.04% respectively.
The global aviation lubricants market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 29.33% of the total market in 2023. Shell plc was the largest competitor with a 5.04% share of the market, followed by Exxon Mobil Corporation with 4.19%, TotalEnergies SE with 4.17%, Eastman Chemical Company with 3.34%, The PJSC Lukoil Oil Company with 3.29%, Chevron Corporation with 2.15%, BP Plc with 2.13%, LANXESS AG with 1.80%, Fuchs SE with 1.71% and Phillips 66 Company with 1.52%.
The top opportunities in the aviation lubricants market segmented by type will arise in the engine oil segment, which will gain $360.17 million of global annual sales by 2028. The top opportunities in the aviation lubricants market segmented by aircraft will arise in the civilian aircraft segment, which will gain $340.77 million of global annual sales by 2028. The top opportunities in the aviation lubricants market segmented by technology will arise in the synthetic segment, which will gain $621.31 million of global annual sales by 2028. The top opportunities in the aviation lubricants market segmented by application will arise in the engine segment, which will gain $405.49 million of global annual sales by 2028. The aviation lubricants market size will gain the most in the USA at $190.27 million.
Market-trend-based strategies for the aviation lubricants market include focus on introduction of biodegradable lubricants for jet engines to reduce environmental impacts, strategic partnerships and collaborations among market players, development of synthetic high-performance lubricants for modern aircraft engines and focus on new lifecycle sustainability approach for aviation lubricants.
Player-adopted strategies in the aviation lubricants market include focus on enhancing business capabilities through strategic partnerships and collaborations. To take advantage of the opportunities, the analyst recommends the aviation lubricants companies to focus on biodegradable aviation lubricants, focus on synthetic aviation lubricants, focus on lifecycle sustainability in aviation lubricants, focus on special lubricants and additives segment, focus on synthetic lubricants for sustainable growth, focus on strategic partnerships for market expansion, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions and focus on hydraulic systems segment.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 290 |
| Forecast Period | 2023 – 2033 |
| Estimated Market Value (USD) in 2023 | $1.8 Billion |
| Forecasted Market Value (USD) by 2033 | $3.7 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
Major Market Trends
- Introduction of Biodegradable Lubricants for Jet Engines to Reduce Environmental Impacts
- Strategic Partnerships and Collaborations Among Market Players
- Development of Synthetic High-Performance Lubricants for Modern Aircraft Engines
- Focus on New Lifecycle Sustainability Approach for Aviation Lubricants
Key Companies Mentioned:
- Shell plc
- Exxon Mobil Corporation
- TotalEnergies SE
- Eastman Chemical Company
- The PJSC Lukoil Oil Company
Markets Covered:
- Type: Engine Oil; Grease; Special Lubricants And Additives; Hydraulic Fluid
- Aircraft: Civilian Aircraft; Defense Aircraft; Helicopters
- Technology: Synthetic; Mineral-Based
- Application: Hydraulic Systems; Engine; Landing Gear; Airframe; Other Applications
Key Mergers and Acquisitions
- FUCHS Group Acquired LUBCON Group
- AMSOIL Acquired Benz Oil
- TotalEnergies Acquired STR Tecoil
Companies Featured
- Shell plc
- Exxon Mobil Corporation
- TotalEnergies SE
- Eastman Chemical Company
- The PJSC Lukoil Oil Company
- Chevron Corporation
- BP Plc
- LANXESS AG
- Fuchs SE
- Phillips 66 Company
- The Indian Oil Corporation Limited (IOCL)
- Gulf Oil Lubricants India Limited
- ENEOS Holdings Inc.
- Panolin
- Xeriant Inc
- United Engine Corporation (UEC)
- Airbus SE
- Lockheed Martin Corporation
- The Boeing Company
- Textron Inc.
- Pilatus Aircraft Ltd.
- Piper Aircraft Inc
- Embraer SA
- Luiz Inacio Lula da Silva
- Castrol Brasil Ltda
- Avibras Industria Aeroespacial SA
- Helibras
- Inbra Aerospace
- AEL Sistemas SA
- ATR Aircraft
- Strata Manufacturing PJSC
- Emirates SkyCargo
- Mubadala Aerospace
- The Airplane Factory
- Jonker Sailplanes
- Triple-A Petroleum Ltd.
- CDN Oil and Lubricants Limited
- Raytheon
- Honeywell International Inc.
- L3Harris Technologies Inc.
- General Dynamics Corporation
- Dassault Aviation
- TransDigm Group Incorporated
For more information about this report visit https://www.researchandmarkets.com/r/s7dlea
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- Aviation Lubricants Market
