Aviation Lubricant Market: Overview
Aviation lubricants are used to improve performance of the engine by reducing frictions between two surfaces, resulting in more kilometers from same amount of fuel. Aviation lubricants play a vital role in overall maintenance and conditioning of aircraft parts such as engine, turbine, airframe, and bearings.
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Aviation Lubricant Market: Drivers and Restraints
Some of the key factors driving growth of the aviation lubricant market include increasing passenger traffic, aircraft orders, and military spending on aviation infrastructure. Increasing investments in defense by major global economies such as Russia, China and India, is expected to fuel the growth of aviation lubricant market in coming years. Moreover, increasing investments on space projects undertaken by research organizations such as Indian Space Research Organization (ISRO), National Aeronautics and Space Administration (NASA), Iranian Space Agency, Korea Aerospace Research Institute (KARI), and China National Space Administration (CNSA) is anticipated to spur the growth of aviation lubricant market during the forecast period owing to broad range of product application in spaceships. Furthermore, many of the developing countries are investing in modernizing their aviation defense vehicles, which is expected to complement the growth of aviation lubricant market owing to the increase in demand for these products. Additionally, these factors are pushing the manufacturers towards focused research and development activities to formulate user specific products with higher serviceability and viscosity.
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