Asia Pacific, mainly led by China, India, Thailand, and Indonesia, and significant aerospace lubricant market size contributor owing to rising air traffic, military and space mission investments in the region. Middle East & Africa (MEA) is witnessing remarkable growth due to urbanisation, and economic development, which has have resulted in increased airbus usage. Growing service industry and tourism in the UAE, Saudi Arabia, Qatar, and Oman are factor fuelling industry growth.
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Civil aviation, defence and space are the end users of the aerospace lubricant market share. Civil aviation dominated the end user base and accounted roughly more than 60% of the global volume in 2015. Increasing air traffic China & India, along with lower fares is analysed to be the key factor propelling aerospace lubricants market size for civil aviation. Rising investments on space mission by the U.S., India, Germany and France will favour industry growth. Furthermore, increasing military expenditure in fighter jets by Russia and China will further complement industry growth by 2024.
Global aerospace lubricant market share is consolidated due to limited number of manufacturers. Major companies operating in the business includes Castrol, Shell, Quaker Chemical Corporation, Fuchs Group, British Petroleum, Petrobras, Chevron Corporation, Exxon Mobil, DuPont, Phillips 66, and Sinopec. Other industry players such as Northrop Grumman and SpaceX provide spaceships and satellites.
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At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the aerospace lubricant market. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
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Industry players in aerospace lubricant market are involved in product development with value added characteristics. For instance, DuPont’s Krytox perfluoropolyether (PFPE), is desirable in the industry as it remains unaffected with temperature ranging from -710 F to 7500 F. It also helps in shock & vibration absorption, resistance to vapor loss in vacuum.
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