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Aviation Lubricants Market Report 2024-2033: Market Size, Growth, Share, Trends And Forecast Analysis | Aerospace Lubricants Inc., Eastman Chemical Company, Exxon Mobil Corporation, The Chemours Company, Lanxess AG
Aviation Lubricants Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Aviation Lubricants industry. This report on Aviation Lubricants market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The aviation lubricants market size has grown strongly in recent years. It will grow from $1.76 billion in 2023 to $1.92 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to regulatory changes, environmental concerns, increase in number of aircraft and air passengers, increase in defense expenditure, rise in investment for research and development activity. The aviation lubricants market size is expected to see strong growth in the next few years. It will grow to $2.73 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%.
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Key Market Players:
Aerospace Lubricants Inc., Eastman Chemical Company, Exxon Mobil Corporation, The Chemours Company, Lanxess AG are prominent players in the Aviation Lubricants industry.
Market Drivers:
According to the Aviation Lubricants Market Report 2024 by The Business Research Company, The rise in air passenger traffic is expected to propel the growth of the aviation lubricants market. Air transportation has been an essential mode of transportation for travel from one location to another and for services. With the change in the aircraft industry, there is simultaneous growth in air traffic, leading to an increase in the demand for new aircraft and maintenance of the existing fleet. This increased passenger traffic leads to a rise in a significant supply of aircraft to regions where growth is expected. As aircraft have a limited life to serve, the need for aviation lubrication comes into the picture, as it provides additional engine cooling, cleanliness, and corrosion prevention functions to aircraft, which keeps the engine clean and the pistons running smoothly, thus increasing aircraft life.
More information about the Global Aviation Lubricants Market Report -
https://www.thebusinessresearchcompany.com/report/aviation-lubricants-global-market-report
Market segments for Aviation Lubricants include:
1)By Type: Engine Oil, Grease, Special Lubricants And Additives, Hydraulic Fluid
2)By Aircrafts: Business Jets and Turboprop Planes, Large Commercial Jets, Piston Engine Aircraft, Defense Aircraft, Helicopters, Other Aircrafts
3)By Technology: Synthetic, Mineral Based
4)By Application: Hydraulic Systems, Engine
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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