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Aircraft Lubricant Market: Introduction

Lubricants are organic compounds that are used to reduce friction and withstand extreme temperature between the surfaces. These lubricants are available in the form of greases and oils for applications in gas turbine, piston, hydraulic, wheel bearing, and others. Oil creates a seal between cylinder walls and piston rings, which helps in reducing friction and facilitates better compression. Moreover, it also keeps contaminants away and improves fuel efficiency.

Aircraft Lubricant Market: Dynamics

Rising number of passengers travelling via aircrafts across the globe is expected to increase demand for aircrafts, which in turn, would propel demand for aircraft lubricants in the global market. According to the World Bank, in 2017, 3.9 billion passengers travelled through aircrafts, which increased from 3.4 billion passengers in 2015, globally. The data includes both domestic and international air passengers.

Apart from its basic functions such as reducing friction, sealing, cooling, cleaning, and facilitating protection for moving parts, other vital functions such as constant viscosity and thermal stability during the time of high temperature and pressure is expected to increase demand for aircraft lubricants in the global market in the near future.

Aircraft Lubricant Market: Regional Outlook

North America is expected to account for major share in the aircraft lubricant market, owing to rising passenger traffic in the U.S., which may propel demand for aircrafts, thereby increasing demand for aircraft lubricant in the global market. According to the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS), in 2017, the U.S. airlines carried 965 million passengers, which increased from 897.6 million passengers in 2016.

Asia Pacific is expected to witness significant growth during the forecast period. This is owing to increasing investments in the aircraft industry and growing tourism industry, specifically in emerging economies such as China and India. According to the UNWTO Barometer and Bureau of Immigration, in 2016, 408.9 million international tourists arrived in India from countries including France, the U.S., Spain, China, Italy, the U.K., Germany, Mexico, Thailand, and Turkey. The growing tourism industry may propel demand for aircrafts, thereby increasing the demand for aircraft lubricant in the near future.

Furthermore, in 2017, the Civil Aviation Administration of China (CAAC) announced 13th five year plans, which objectifies to develop over 5000 general aviation aircrafts and 500 general aviation airports. The CAAC will encourage private investors to invest in this project. This project is expected to fuel demand for aircraft lubricant in the market over the forecast period.

Aircraft Lubricant Market: Competitive Landscape

Key players operating in the market include Shell Inc., Aviation Chemical Solutions, Eastman Chemical Company, Exxon Mobil Corporation, Avioparts, Kluber, Morris Lubricants, The Chemours Company, and Molykote.

Major players in the market are adopting strategies such as product launches, business expansions, partnerships & collaborations, mergers & acquisitions, and others to strengthen their foothold in the global market. For instance, in 2017, Shell Global announced the launch of piston engine oil in South Africa. The oil is specifically made for light sport aircraft and very light/ultra-light aircraft four stroke engines and provides protection and lubricity.

Aircraft Lubricant Market: Taxonomy

The global aircraft lubricant market is segmented into:

By Product Type

  • Gas Turbine Oil
  • Piston Oil
  • Hydraulic Fluids
  • Airframe & Wheel Bearing Greases

By Grade

  • Monograde
  • Multigrade

By End User

  • Passenger Aircraft
  • Military Aircraft

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Latin America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa

Key Developments:

  • In August 2019, Phillips 66 Lubricants launched a new aviation oil - “Victory AW 20W-50” which has a pre-blended with Lycoming anti-wear additive for better engine performance. The new oil provides cooler operating temperatures along with reduced warm-up time. The new product launch will help the company to offer more lubricating oil options from its current portfolio.
  • In August 2017, Royal Dutch Shell Plc. announced the launch of its second generation piston engine oil – “Aeroshell Oil Sport Plus 4” in Johannesburg, South Africa. The oil offers enhanced protection and lubrication in case of light sport aircraft and very light/ultra-light aircraft four-stroke engines. The new product launched helped the company to expand its lubrication oil portfolio.
  • In August 2017, ExxonMobil Corporation announced that its new mobile jet oil “Mobil Jet Oil 387” has been approved by Pratt & Whitney for its two turbo-engines – “PurePower PW1100G-JM” and “PW1400G-JM Geared Turbofan”. The new synthetic oil by ExxonMobil provides excellent lubrication in the harsh operating conditions.
  • In August 2019, Phillips 66 Lubricants launched a new aviation oil - “Victory AW 20W-50” which has a pre-blended with Lycoming anti-wear additive for better engine performance. The new oil provides cooler operating temperatures along with reduced warm-up time. The new product launch will help the company to offer more lubricating oil options from its current portfolio.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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