Report ID: SQMIG20A2286
Report ID:
SQMIG20A2286 |
Region:
Global |
Published Date: December, 2024
Pages:
193
|
Tables:
114 |
Figures:
72
Global Aviation Lubricants Market size was valued at USD 991.80 Million in 2022 and is poised to grow from USD 1045.36 Million in 2023 to USD 1592.17 Million by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).
Increased demand for air travel is driving the aviation lubricants market growth, and airline expansion calls for better aircraft maintenance and performance lubricating products. In addition, the stress on sustainability and fuel economy contributes to the development of high-performance, environmentally friendly lubricants. Higher technical developments in flight systems, strict regulatory requirements, and demanding conditions increase the requirement for specialized lubricants. Aviation lubrication addresses cooling, sealing, cleaning, and corrosion prevention for the engine. Profitable opportunities for lubricant-producing enterprises are created by government initiatives about airport infrastructure expenditures, private companies, and commercial purposes. In addition to that, when selecting the right lubricant for machinery, a lightweight and extremely useful lubricant is also in demand. Moreover, the industry grew due to strict regulations that promote high-performance and environmentally friendly lubricants, an expanding global aircraft fleet to meet the growing demand for passenger transport, and developments and advances in synthetic lubricant technology. Besides that, lubricants reduce wear and friction in aerospace engines, therefore the aerospace sector demands more lubricants. In the highly competitive aviation lubricants industry, investments in environmentally friendly goods are increasing, and research and innovation activities are helping achieve sustainability targets. Lubricants are specialized liquids that are critical to maintaining mechanical efficiency and safety in aircraft engines and components.
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Report ID: SQMIG20A2286