Detroit, July 26, 2018 (GLOBE NEWSWIRE) -- Stratview Research announces the launch of a new market research report on Aircraft Lubricant Market by Type (Hydraulic Fluid, Engine Oil, Grease, and Special Lubricants and Additives), by Technology Type (Mineral-based Lubricants and Synthetic Lubricants), by Aircraft Type (Commercial Aircraft, Military Aircraft, and General Aviation), by End-User Type (OE and MRO), by Application Type (Hydraulic Systems, Engine, Landing Gear, Airframe, and Others) and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
The Global Aircraft Lubricant Market: Highlights
As per Stratview Research, the global aircraft lubricant market is projected to witness a healthy CAGR of 5.3% during the forecast period 2018-2023. Increasing aircraft deliveries owing to rising passenger traffic across the globe, growing focus on fuel-efficient aircraft, increasing demand for advanced military aircraft, especially by the emerging nations, and rising aircraft fleet size are some of the major driver of the market.
Commercial aircraft is projected to remain the growth engine of the market during the forecast period, driven by rising commercial aircraft fleet in all four regions, increasing production of fuel-efficient commercial aircraft, market entry of new players, and advancement in lubricants.
Based on the application type, engines dominate the market and is expected to remain the largest segment during the forecast period. Introduction of lightweight and fuel-efficient engines including LEAP and GE9x along with the increased usage of specialized and advanced lubricants is mainly driving the demand for lubricants in the segment.
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Between synthetic and mineral based lubricants, synthetic lubricants are expected to witness higher growth over the next five years, owing to an increasing need to enhance the performance of an aircraft by utilizing advanced lubricants.
Key lubricant manufacturers for the aircraft industry are Exxon Mobil, Total S.A., BP plc., The Chemours Company, Royal Dutch Shell plc, Lanxess, Lukoil, Phillips 66, Candan Industries, Nye Lubricants, and Eastman Chemical.
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences and Oil & Gas.