Aerospace Lubricants Market Size To Reach $2.99 Billion By 2030

Aerospace Lubricants Market Growth & Trends

The global aerospace lubricants market size is expected to reach USD 2.99 billion by 2030, registering a CAGR of 5.0%, according to a new report by Grand View Research, Inc. Rising number of trade activities in Asia Pacific and Middle East region has resulted in need for expansion of aviation capacity further driving lubricant demand. 

Fuel economy improvement, supportive regulatory policies and fuel emission norms have been creating additional demand for lubricant. At the same, these factors have also been pushing producers to invest in R&D and formulate usage specific products with higher serviceability and viscosity. 

Increasing air passenger traffic as a result of rapidly developing civil aviation sectors in high growth Asian markets coupled with reduced airfares as a result of high competition from aviation companies is a key factor driving aircraft utilizations and miles. This is further expected to complement the global industry growth. 

Gas turbine oil was the leading product segment and accounted for 41.9% of total market volume in 2023. High oxidative stability, water contamination resistance, and reduction of downtime are factors that are driving base oil development to meet increasing aircraft specifications.

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Aerospace Lubricants Market Report Highlights

• Gas turbine oils dominated the market and accounted for the largest revenue share of 41.9% in 2023 pertaining to its significance in aerospace, acting as a lubricant, especially for aircraft gas turbine engines.

• The hydraulic fluids are anticipated to grow at a CAGR of 5.1% over the forecast period. The rising demand for automation and aerospace industries drives this growth.

• Asia Pacific aerospace lubricant market dominated the global market and accounted for the largest revenue share of 62.4% in 2023.

Aerospace Lubricants Market Segmentation

Grand View Research has segmented the global aerospace lubricants market based on product, and region:

Aerospace Lubricants Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Gas Turbine Oils

• Piston Engine Oils

• Hydraulic Fluids

• Others

Aerospace Lubricants Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Switzerland

  • Russia

• Asia Pacific

  • China

  • Japan

  • India

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • Saudi Arabia

List of Key Players in Aerospace Lubricants Market

• Aerospace Lubricants, Inc.

• IKV Tribology Ltd

• Nye Lubricants, Inc.

• Santie Oil Company

• Idemitsu Kosan Co., Ltd.

• Fuchs

• CASTROL LIMITED

• Eastman Chemical Company

• Shell

• Chevron Alkhalij