Aerospace Lubricant Market To Witness Imminent Growth At CAGR Of 4.8%Till 2022
Grand View Research.com has announced the addition of "Aerospace Lubricant Market Analysis and Segment Forecasts To 2022" Market Research report to their Database.
The global aerospace lubricant market is expected to reach USD 998.1 million by 2022, 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 45.0% of total market volume in 2014. High oxidative stability, water contamination resistance, and reduction of downtime are factors that are driving base oil development to meet increasing aircraft specifications.
Browse full research report on Global Aerospace Lubricant Market: http://www.grandviewresearch.com/industry-analysis/aerospace-lubricant-market
Further key findings from the report suggest:
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Grand View Research has segmented the aerospace lubricant market on the basis of product, end-use and region:
Global Aerospace Lubricant Product Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)
Global Aerospace Lubricant End-Use Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)
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